How Health Classification
Affects My Quote
What is a health classification? Why is it important? The answers to these questions are important in understanding the cost of life insurance. The health class you are assigned to will be the most important factor in deciding how much premium you are asked to pay.
Most life insurance companies have up to fifteen or twenty health rate classifications. The best and most commonly heard rate classes are Preferred Best, Preferred, Standard Plus, and Standard. These are the best rate classes. Below these health classes are many more classes known as table ratings.
To get the best rate on your life insurance you would need to be placed in the Preferred Best rate class. However, only about 2 percent of the population will ever be in good enough health to be considered for this health class.
The purpose of any life insurance company's underwriting process is to determine which rate class you fall into. They look at your health history, your family health history, and any number of other factors to determine how healthy you are. The healthier you are, the better rate class you will receive, and the lower your life insurance premiums will be.
Part of what makes WholesaleInsurance.net a valuable resource to anyone purchasing life insurance is the knowledge we have about different life insurance companies' underwriting requirements. Our expertise in this area will help you get the best policy at the best price from the life insurance company best suited to your needs.
