A breakdown of Preferred and Standard rates

Life insurance is not as simple as choosing a plan and receiving it right away.  Life insurance carriers evaluate your health and life style extensively.  They look into things like:

1.Smoking/Tobacco Use

2.Height and Weight

3.Cholesterol

4.Blood Pressure

5.Driving Record

6.Family Health History

7.Substance Abuse

8.Hazardous Sports and Occupations

9.Travel

Risk Classes

For Non-Tobacco Users

For Tobacco Users

Preferred Plus

Preferred Tobacco

Preferred

Standard Plus

Standard Tobacco

Standard















There are
different classes of how someone can get ranked.  There is super preferred nonsmoker, preferred nonsmoker, standard plus nonsmoker, standard nonsmoker, preferred nonsmoker, and standard nonsmoker.  Below is a breakdown by nerdwallet dot com.
 

Super preferred nonsmoker
: This category is for individuals who are in excellent health.  You are at a healthy weight, you do not smoke, you have normal blood pressure and cholesterol, and a clean medical history. Carriers look for history of death or heart disease before the age of 60 in parents and siblings.  Your driving record counts, too. Insurance carriers look for a spotless background check as well.

Preferred nonsmoker: This category is also associated with optimal health.  But, this category does give some wiggle room if your blood pressure, cholesterol, and weight are not perfect.  A premature death of a parent or sibling from cancer or heart disease typically isn’t acceptable.

Standard plus nonsmoker: This category is for nonsmokers who are generally in good health but don’t quite make the preferred category. Treatment for high blood pressure may be acceptable, for instance, as long as readings are in a normal range.

Standard nonsmoker: This is usually the category that the average person falls into. Being overweight or being treated for elevated blood pressure may be acceptable, as would the death of one parent or sibling before age 60 from heart disease or cancer.

Preferred smoker: This category is for smokers who otherwise would qualify for preferred rates. If you have recently quit smoking, you still may get smoker rates. Typically you must be a nonsmoker for at least five years to qualify for the best nonsmoking rates, at least three years for the second-best rates and one year for standard nonsmoker rates.

Standard smoker: This is for smokers who otherwise would fall into the standard nonsmoker category.

The contemporary life insurance market is way more extensive than a source of income for beneficiaries when catastrophe strikes. With a plethora of options, these plans offer you and your entire family peace of mind, and often give your money investment opportunity to allow you to enjoy the money invested during your lifetime.

Choosing the perfect life insurance plan depends as much on your financial needs as it does on your health class rating. We will assess all factors and guide you through every option until we find the perfect plan for you.

 

GET A LIFE INSURANCE QUOTE
 
sources: https://www.quotacy.com/will-i-be-rated-preferred-or-standard/

https://www.nerdwallet.com/blog/insurance/preferred-standard-life-insurance-rating-categories/

Posted 10:00 AM

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Facebook
Twitter
LinkedIn
Blog
Google+
© Copyright. All rights reserved.
Powered by Insurance Website Builder