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 Posted: Wed Nov 04, 2009 7:24 am Post subject: Life insurance health classes and rates |
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I wanna know about the different health classes and the factors that determine life insurance rates.
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Clivedixon
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| Posted: Thu Nov 05, 2009 9:08 am Post subject: |
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I'd need to control my blood pressure, but still I've achieved the preferred rate. I'm not overweight, but I've seen people who're overweight or may have slight variations in cholesterol. Yet such people would qualify for preferred rates. So, all I can say is that you may achieve preferred rates with most carriers even when you possess a minor risk.
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#PalinRome
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| Posted: Fri Nov 06, 2009 7:28 am Post subject: |
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| Some people have told me that they achieved a 'super preferred' rate, but I guess that's a rare thing. The standard rate is the average rate. People who have issues regarding their weight would generally qualify for this level. If you quit smoking and apply for coverage within an year, there's a probability that you'd qualify for this 'standard' level. |
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steven
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| Posted: Sat Nov 07, 2009 4:32 am Post subject: |
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Underwriters are going to look at an assrtment of factors. Weight, height, health, health history, family history.
When it comes to your health it's going to depend on how much you end up applying for. Smaller amounts have fewer underwriting requirements.
Since there is no universal set of risk classes (I think this is what you mean by health classes, also known as underwriting classes in some circles) you've asked a question that cannot be answered.
Is there something that has you worried you might not get a good rate? |
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BNTRS
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| Posted: Sat Nov 07, 2009 6:15 am Post subject: |
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The super preferred rate is also known as the 'preferred best' rate. If you don't possess any pre-existing medical condition, then you shouldn't have any problem in achieving this rate.
Non-smokers who don't have any problem associated with their cholesterol levels, blood pressure, weight and height would usually be allowed to have this rate if they possess a good credit record as well as a good driving history. It's just that the insurance carrier needs to be sure of their risks. Roddick |
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roddick
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| Posted: Sat Nov 07, 2009 9:54 am Post subject: |
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| Quote: | | The standard rate is the average rate. |
There's a standard plus class which is just above the standard class. If you aren't smoking for the past couple of years, you could find yourself in this class. Obviously you'd need to have a good family health history and your weight and height have to be proportionate.
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anonymous12
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| Posted: Sat Nov 07, 2009 2:42 pm Post subject: |
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| But not every insurer has a standard plus class or a preferred best class. This is why the attempt to hammer down the risk classes is a fool's errand. |
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BNTRS
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| Posted: Mon Nov 09, 2009 10:52 am Post subject: |
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This is probably the information that I was looking for..
I've been told that the life policy applicants who fail in qualifying nfor the favorable health classes are put in a table rating category. I'd like to know more about such table ratings.
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Crossbreed
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| Posted: Mon Nov 09, 2009 9:06 pm Post subject: |
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| Table ratings are an additional premium assigned on top of the standard risk class. Most table ratings are expressed in letters or numbers (e.g. A-J or 1-10). Each additional number or letter is usually a 25% increase in premium on top of the standard rate. As an example, a Table D (Table 4) rating would be double the standard premium. |
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dgoldenz
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