Type of rating system in which one premium is applicable for all insureds regardless of age, sex, or occupation.

Federal legislation passed by some states in the United States to alleviate problems of simultaneous death unless the will specifies what to do under simultaneous death. If the insured and beneficiary die together, the insurance company pays the secondary or contingent beneficiary. If the policy owner has not named a secondary beneficiary, the payment goes to the insured’s estate.

Government and international organizations (e.g., U.S. Air Force, U.S. Army, U.S. Coast Guard, U.S. Marines, U.S. Navy, U.S. Public Health Service, National Oceanic and Atmospheric Administration, North Atlantic Treaty Organization).

Involving only one side.

Type of agreement in which only one of the parties is legally required to carry out the terms. Insurance contracts are unilateral because the insurance company promises benefits and only the insurer can be charged with breach of contract.
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A contract where only one of the parties makes a promise that is legally enforceable. An insurance contract qualifies as a unilateral contract because the insurer is the only one to make a promise.
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A contract such as an insurance policy in which only one party to the contract, the insurer, makes any enforceable promise. The insured does not make a promise but pays a premium, which constitutes his part of the consideration.

Entity that fails to meet the requirements of an insurable risk and falls outside the parameters of risk coverage using standard underwriting practices (e.g., high-risk individuals).

Category of individuals who have such a high risk of loss that an insurance company will not insure them.

Individuals who have no health insurance coverage either privately or via state or government programs.

1. Insurance coverage for damages as a result of an accident involving a hit-and-run driver or a driver who does not have insurance. 2. Under Medicare Secondary Payer guidelines, this is described as liability insurance under which the policyholder’s insurer pays for damages caused by a motorist who has no automobile liability insurance, carries less than the amount of insurance required by law, or is underinsured.