Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
38% - Moderately

Risk Class

Synonyms:insurance risk class
Filed Under: insurance
Tags: insurance

Definition of risk class

risk class
1. A grouping of individuals who present similar levels of risk to an insurer. Individuals are sorted into risk classes depending on one's gender, if one smokes or not, and if their risk profile classifies them as preferred, standard or substandard.

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Below is a listing of our most popular mortgage product inquiries made using our online mortgage application for clients in Stony Plain.

Mortgage Product Type Inquiries
Refinance/Consolidate Debt20.99%
Mortgage Pre-approval18.52%
No Money Down discontinued18.52%
First-time Home Buyer14.81%
New Purchase13.58%
Mortgage Renewal7.41%