MLchartDataset catalogue

Table shaving

Term · Insurance and risk management · MLC-T-INS-003270

An unethical practice in life insurance where an agent manipulates the age of an applicant on the application form to qualify them for a lower premium rate. This misrepresentation of age can lead to policy rescission or reduced benefits upon claim, as the insurer's underwriting decision was based on false information. It constitutes fraud and violates insurance regulations.

Table 1. Record
IdentifierMLC-T-INS-003270
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-003270",
  "term": "Table shaving",
  "field": "Insurance and risk management",
  "definition": "An unethical practice in life insurance where an agent manipulates the age of an applicant on the application form to qualify them for a lower premium rate. This misrepresentation of age can lead to policy rescission or reduced benefits upon claim, as the insurer's underwriting decision was based on false information. It constitutes fraud and violates insurance regulations.",
  "url": "https://mlchart.com/terminology/insurance/table-shaving/"
}

Record 3,398 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.