For example, if you are in
better than average health your rate will be lower than someone with health problems are of average health.
In most cases though, even individuals in average or
less than average health can still qualify for more competitive term life insurance rates in the open market.
«With
higher than average health expenses and steady increases in the cost of living, senior and disabled homeowners are fighting harder than ever to make ends meet and still pay their property taxes.
Standard Plus Rating Class: The premium rate class available on life insurance policies for applicants that are determined by underwriting to be of slightly
better than average health.
Banner is very liberal with various health issues and have a unique «table rating» program which makes them very inexpensive in comparison to other companies for those with
less than average health.
Preferred Rating Class: One of the best premium rate classes available on life insurance policies for applicants that are determined by underwriting to be in better
than average health.
Preferred Plus Rating Class: The best premium rate class available on life insurance policies for applicants that are determined by underwriting to be in better
than average health.
These are rates offered by insurers for people in much better
than average health and the savings can be significant.
After that, standard plus for better
than average health, and then standard for those with normal health.
However, if you are over age 45 and in better
than average health, there is a strong likelihood that low cost level term life insurance offered through the open market will be more cost effective.
To qualify for these ratings, you have to be in average to better
than average health.
However, if you have a health problem, you may or may not be approved for coverage since these plans are usually for people in average or better
than average health.
If you're in better
than average health, some companies may even approve you without even providing a medical exam.
Even though level death benefit whole life insurance policies are usually available to people in better
than average health, a medication for blood pressure, cholesterol, or both will not prevent you from being approved.