Live Your Legacy
Home » Client Resources » Articles » Insurance Optimizing Articles » Life Insurance Ratings Explained

Life Insurance Ratings Explained

 Tweet This Page  Recommend This Page   Google +1

Simply put, the healthier an individual is the better rating he or she will receive. A better rating translates into lower premiums, since the life insurance company believes that the insured individual will live a longer, healthier life and thus not cost the company any money for a longer period of time. 

So how exactly do these ratings work? There are two main classes of individuals: smokers and non-smokers. Within these two classes are categories, namely, Preferred, Select, Standard, and Table. The table below outlines exactly what this hierarchy looks like, for both classes. Preferred Best is the highest rating an individual can achieve and Table 10 is the worst. The Preferred Best rating is reserved for those in society with the very best health. Factors that help determine an individuals overall health include, but are not limited to, age, gender, use of tobacco, individual health, family health history, type of profession, lifestyle characteristics, and even things like where an individual travels for leisure and/or business. So, for example, maybe an individual has a history of medical problems in his family which could bump him or her down to a Standard rating. Another individual may travel regularly to a high risk country, which would also lower his or her rating. The worse one's overall health, the lower the rating one will receive. The worst rating of all, Table 10, means that the insured will likely die very shortly. 

Smoker

Non-Smoker

Preferred Best

Preferred Best

Preferred

Preferred

Select

Select

Standard Plus

Standard Plus

Standard

Standard

Table 2

Table 2

Table 3

Table 3

Table 4

Table 4

Table 5

Table 5

Table 6

Table 6

Table 7

Table 7

Table 8

Table 8

Table 9

Table 9

Table 10

Table 10

Complete the following form, or call us toll-free at 888-854-7526 if you would like to speak with someone or get more information.

Request More Information About "Life Insurance Ratings Explained"
Day Phone*
   
 

Legal | Privacy Policy | Insurance Quote | Careers | Contact Us | Staff Login | RSS | Sitemap | Download Our Brochure

©2007-2014 RetirementGeeks.com

2840 Plaza Place • Suite 206 • Raleigh, NC 27612

Toll-Free 888-854-7526 • Local 919-881-2850 • Fax 800-785-1070

info@llgfinancial.com