There are a number of factors that go into life insurance rates. But once you get beyond age and tobacco use/non-use, there is perhaps nothing as important as your health classification.
Life insurance companies generally have several rate classifications. At the healthiest (and least expensive) end of the spectrum is what insurance companies call "Preferred Plus" or "Preferred Best". This rate classification is reserved for only the healthiest individuals. Depending on the insurance company, only 5% to 12% of people fall into this category. Athletes and those who pay close attention to their diets often fall into this category.
The second best rate class is call "Preferred". In order to qualify for this rate class, you have to be free of any major health issues and your build (height and weight) has to be within a certain acceptable limits. You might fall into this group if you take good care of yourself, exercise regularly, and watch what you eat.
Next on the list is a class called "Standard Plus" or "Select". Usually, individuals that are otherwise healthy but don't quite have the build for "Preferred" rates will fall into this classification.
Finally, we have "Standard" rates. To qualify for this rate class, you should be relatively healthy with few (if any) health issues. Height and weight requirements are typically relaxed even further than they are for the "Standard Plus" class. With modern advances in medicine, it is now possible for individuals with certain medical conditions to qualify for standard rates. Depending on the type and severity of these conditions, some insurers will underwrite and issue policies as "standard". Carriers vary by the different conditions that they will allow, but we work with insurance companies that will issue policies as standard for such conditions as: diabetes, high cholesterol, hypertension, history of cancer, asthma, bronchitis, clotting disorders, colitis, depression, anxiety, and epilepsy/seizures.
When you search for rates on our website, take your health class into consideration. If you need some help figuring out what health class you are likely in, feel free to call our office for a free no obligation, no pressure consultation.
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