The rate you'll pay for your life insurance rate is determined, in large part, by the rate class you qualify for. If you qualify for the best rate class (often referred to by most carriers as "preferred plus"), your rate will be the lowest available. There are many different rate classifications and which one you qualify for will be determined by the life insurance company's underwriters, and will be based on your individual health, lifestyle, and family history profile. Since qualification criteria varies among the numerous insurance companies, it is not uncommon for an individual to qualify for different rate classes at different insurance companies. Since AccuQuote has access to many different insurance companies and their published and unpublished guidelines, we can help you select which one will likely offer you the best rates. Even the names of the rate classes can vary by company, but generally, here are the most common rate classes:
- Preferred Plus – In order to qualify for preferred plus rates you cannot use any tobacco (most companies require between 3-5 years tobacco-free) and you must be in overall excellent health with no history of drug or alcohol abuse. In addition, you must have a good driving record and must not engage in hazardous activities. You must also have no history of heart disease (sometimes cancer) among your parents or siblings prior to their age 60.
- Preferred – Generally, to qualify for preferred rates you must also be in excellent overall health, not use tobacco (generally at least 1 year tobacco free, sometimes more), have a good driving record, and you must not participate in any hazardous activities. The main difference between Preferred and Preferred plus is that the blood pressure, cholesterol, and family history guidelines are a bit more lenient.
- Standard – Standard risks refer to people who have had some minor health impairments. Examples of someone that would qualify for standard rates would include people who have somewhat elevated cholesterol levels or who are overweight. Some carriers also offer a hybrid between standard and preferred, which is called Standard Plus. The guideless for this class are somewhere in-between the two classes.
- Substandard – This rate class (actually a series of several rate classes) encompasses people that have more than minor health problems. An additional charge will be added to these people's premiums depending on the risk factors involved.
Keep in mind that underwriting guidelines vary among life insurance companies. Insurance companies determine how much you'll pay for a policy by placing you into one of several rate classifications, including preferred plus, preferred, and standard. Which one are you?
STEP 1While it is impossible to know your rate class with 100% certainty until your case is evaluated by the underwriter, the following is provided to give you some general guidance as to what you might expect.
Take a look at the following major categories to see where you stand.
| Preferred Plus | Preferred | Standard | |
| Height & Weight | maximum height/weight | maximum height/weight | |
| Tobacco Use |
No tobacco use in the past 5 years |
No tobacco use in the past3 years (only for preferred non-smoker) |
No tobacco use in the past year (only for non-smoker) |
| Blood Pressure | 140/85 without medication | 140/85 with medication or 150/90 without medication |
150/90 with medication or 155/95 if age 41-60 or 160/95 if age 61 or higher |
| Cholesterol | 230 without medication and HDL ratio under 5.0 |
250 with or without medication and HDL ratio under 6.0 |
300 with or without medication and HDL ratio under 8.0 |
| Driving Record | No more than 2 moving violations in the past 3 years and No DUI/reckless driving in past 5 years |
No more than 2 moving violations in the past 3 years and No DUI/reckless driving in past 5 years |
Ba1, Ba2, Ba3 Questionable |
| Family History |
No parents or siblings diagnosed with heart disease/cancer before age 60 | No parents or siblings died of heart disease/cancer before age 60 | Not applicable |
| Citizenship | US Resident for past 3 years (or permanent visa/green card) | US Resident for past 3 years (or permanent visa/green card) | US Resident for past 3 years (or permanent visa/green card) |
STEP 2
I addition to the criteria above, if you have been treated for any of the ailments on the following chart, you'll find a check mark corresponding to the best rate class for which you're most likely to qualify. Treatment received for two or more of the problems listed below may classify you for a higher rate class, or it may cause you to be declined for life insurance.
| Preferred Plus |
Preferred | Standard | Non-Standard | |
| Alcohol/Substance abuse | ||||
| Arthritis (Osteo) | ||||
| Arthritis (Rheumatoid) | ||||
| Asthma (allergy) | ||||
| Asthma (steroid meds) | ||||
| Bronchitis | ||||
| Cancer (basal cell) | ||||
| Cancer (not basal cell - after 5 years) | ||||
| Cardiovascular/Heart Disease | ||||
| Crohn's Disease | ||||
| Depression (situational) | ||||
| Depression (on-going) | ||||
| Diabetes | ||||
| Emphysema | ||||
| Epilepsy | ||||
| Hepatitis A or B | ||||
| Hepatitis C | ||||
| Kidney/Liver Disease | ||||
| Mental Illness | ||||
| Mitral Valve Prolapse | ||||
| Multiple Sclerosis | ||||
| Stroke | ||||
| Ulcerative Colitis | ||||
| Vascular Disease |
Our web quoting engine provides you, the consumer, with the opportunity to see the prices for various different rate classifications, based on YOUR selection of a rate class on our quote request page. Your decision to view the prices from multiple insurance companies based on a rate class that you selected is, in no way, indicative of whether or not you may qualify for that particular rate class. Automated quoting is a very inaccurate process. This is why we also ask you to provide significant additional information, beyond that which is necessary for a simple perusal of rates via the web, so that we can spend the time necessary to create a CUSTOM quote for you, which we have proven over 20 years to be significantly more accurate relative to what ultimately will be offered to you by one or more insurance companies. This custom quote is ordinarily provided to you via telephone, often after a telephone conversation with one of our licensed agents. We take pride in having a comprehensive knowledge base of information regarding not only the published underwriting guidelines of each carrier, but also understanding that the guidelines are sometimes flexible. We use our extensive experience in dealing with the insurance companies to help guide our customers to apply to the insurance company most likely to issue them the best rate for their individual health and lifestyle profile.