Which one of the following statements is correct with regard to 'Declined Lives' under Risk Classification?
1
'Declined Lives' consist of those Individuals, whose Anticipated Mortality corresponds to the Standard Lives, represented by the Mortality-Table.
2
'Declined Lives' consist of those Individuals, whose Impairments and Anticipated Extra Mortality are So Great, that they could not be provided Insurance Coverage, at an Affordable Cost.
3
'Declined Lives' consist of those Individuals, whose Anticipated Mortality is Higher Than the Average Lives or Standard Lives, but are still considered to be Insurable.
4
'Declined Lives' consist of those Individuals, whose Anticipated Mortality is Significantly Lower Than Standard Lives, and hence, could be charged a Lower Premium.
5
None of the Above.