Underwriting class

{
  "id": "MLC-T-INS-003413",
  "term": "Underwriting class",
  "field": "Insurance and risk management",
  "definition": "A category assigned to an insurance applicant based on their assessed level of risk, which determines the premium they will pay. Underwriters evaluate factors like age, health, occupation, and lifestyle to place individuals into a specific group with others who have similar risk profiles. Common life insurance classifications include preferred plus, preferred, standard, and substandard, with each successive class corresponding to a higher premium.",
  "url": "https://mlchart.com/terminology/insurance/underwriting-class/"
}