Life insurance policies for which higher than standard premium rates are payable are said to be?

Life insurance policies that require higher than standard premium rates are referred to as rated policies. This designation indicates that the insurer has assessed the applicant as presenting a higher risk than a standard insured, often due to factors such as health issues, lifestyle choices, or occupational hazards. As a result, the insurer imposes higher premiums to offset this increased risk.

Rated policies are critical in the insurance industry because they allow individuals who may not qualify for standard rates to still access life insurance coverage. By paying a higher premium, these individuals can secure a policy that caters to their specific risk profile. This practice ensures that the insurer can maintain profitability while still extending coverage to those deemed higher risk.

The other options do not apply to the context of higher premium charges. Contingent policies typically involve conditions that must be met before the policy becomes effective, non-participating policies do not pay dividends and are priced accordingly based on standard risk, and conditional policies are based on certain requirements being met but do not inherently relate to premium rates.