determine your insurance health class
Your life insurance class rating is a key factor in calculating how much you’ll pay for life insurance coverage. Understanding how these ratings work and what they mean for your policy options will help you determine the best coverage for your needs.
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what is a health class for life insurance?
Life insurance health scores are levels used by life insurance companies to determine what rate will be used to calculate your premium. Qualifications are generally divided into four classes: Preferred Plus, Preferred, Standard Plus, and Standard. These rating class names and the factors that determine their class can vary between insurers, with many following similar rules. You will be placed in a class based on a number of factors related to your health and lifestyle.
life insurance ratings
Each of the life insurance companies has their own formula for deciding which life insurance rate class level you fit into. There are a number of factors, but in general, your life insurance health class is determined by your age, current health, and past medical history, plus some lifestyle choices. All of these factors are evaluated as part of your life insurance application. Many people are surprised to learn that in addition to their medical history, they will also be asked to disclose information about activities they participate in regularly or occasionally. This lifestyle information is used in conjunction with your health data to determine your risk of death during the term of the policy coverage.
A medical exam is usually required as part of the life insurance application process. The results of your medical exam are critical to your underwriting decision, as they relate directly to your insurance rate guidelines. The main reason your risk class matters is that the better your life insurance risk category, the lower the cost of your insurance premium. The various classes of life insurance typically include:
- Best Class/Preferred Plus: This is considered the best category that can be obtained for a life health insurance rating. most people in this category do not have a poor health history; are not taking any medications and are within the guidelines for height and weight. He is healthy and has no family history of disease. only about 5% of people qualify for this class.
- Preferred: This is considered the second best category to achieve in the life insurance health classes. he is considered to be in excellent health with some minor health issues that can be treated with medication, such as getting his cholesterol under control. is within the guidelines for height and weight. you may have a family history of cancer or other diseases. You also participate in hazardous occupations such as hazardous sports or hazardous work occupations.
- Standard Plus: You are considered to be in better than average health, but may have minor health issues. You may be slightly above the height and weight guideline, but you also don’t have a family history of disease.
- Standard: Although this may be at the bottom of the four general health classes of life insurance, it is considered to be the most common category. He is in average health and takes multiple medications. your height and weight guidelines do not meet the requirements, and you have a family history of cancer or other diseases.
- Your weight: Your body mass index (BMI) should be within the recommended range. this means your weight should be considered healthy for your height.
- smoking: Smoking significantly affects your rate.
- Your Cholesterol: Maintaining healthy cholesterol levels can keep your cholesterol lower.
- Your blood pressure: Your blood pressure should be within the recommended range to keep your premiums low.
- your driving record: Keep your driving record clean. reckless drivers are considered higher risk for life insurance. avoiding traffic violations can help lower your fare.
- Your leisure activities: People who participate in high-risk activities, such as snowboarding or skydiving, will likely pay higher premiums.
- Non-Tobacco/Nicotine Users refer to this table if they have not used cigarettes, pipes, chewing tobacco, snuff, nicotine patches, or nicotine gum in the past 12 months.
- Tobacco and nicotine users refer to this table if you have used cigarettes, pipes, chewing tobacco, snuff, nicotine patches or nicotine gum in the last 12 months.
qualify for the best life insurance rate
Many of the factors that determine your life insurance rate class are out of your control. Some, like personal and family medical history, may not play a role, but your lifestyle choices can significantly affect the amount of premium paid. key areas that are factors in determining your rate:
Please note that not all insurers will treat these factors equally. intelliquote® can help you find the right insurer for your needs and budget.
use of health impairment tables to predict your health insurance rate class
You must meet certain health and risk requirements to qualify for the best rates. We’ve created two health impairment tables, one for nicotine users and one for non-nicotine users, to help you determine which class you’ll most likely fit into. The information in these tables is based on the health classes used by some of the major life insurance companies. however, it is important to remember that rating factors may vary between different insurers.
The following life insurance health impairments chart is a general guide to some of the more common health impairments and how each relates to classes of life insurance. choose the life insurance health impairment chart below that best applies to you. Keep in mind that smoking can have a direct impact on determining your health rating and your resulting life insurance rates.
Please note that subscription requirements vary by company. final rates may also vary based on additional information collected during the underwriting process. You can quickly calculate your health score with the Health Class Estimator to determine your appropriate subscription class.
For help finding affordable life insurance coverage, use intelliquote’s online quoting service to compare premiums and plans from many of the top-rated insurers.