Insurance   A layperson's glossary of insurance terminology.

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what is...
RATE
The cost of a unit of insurance, usually per $1,000. Rates are based on historical loss experience for similar risks and may be regulated by state insurance offices.
ALSO SEE: UNIVERSAL LIFE INSURANCE, RENEWABLE TERM INSURANCE, INSURANCE SCORE, FIXED ANNUITY, CREDIT RATING, CREDIT SCORE, DEREGULATION, LOSS COSTS, CAPACITY, ACTUARY

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