substandard insurance

  • Insurance of persons who do not meet the standards set for insurance at regular rates. Substandard insurance may be issued for physical, moral, or mental reasons, or because of occupation, residence, etc.

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).