1. Determining the value of risk of an individual or organization. 2. Establishing a year’s cost of a specific unit of insurance.
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Any procedure used to compute the premium rate which a particular insured or class of Insureds is charged for a given coverage.

Rate applied to risks of similar characteristics or a specific class of risk. For group life insurance the three rating classes for group premiums are (1) manually rated premiums, (2) experience-rated premiums, and (3) blended premiums. See also blended rates, experience rating, and manual rate .

Insurance handbook that includes suggested ratings and background information for each impairment shown.

Time during which a set of health insurance rates is guaranteed.