1. 0 POINTS
    David RacichPRO
    Fountain Hills, Arizona
    Life insurance underwrites the health of the policy insured via various medical tests and the collection of attending physician statements. Those tests result in an underwriting score based on the debits and credits of an underwriting balance sheet. The parsing of classifications can be very specific like nonsmoking Super Preferred, Preferred Plus, Preferred, Standard Plus, Standard, Preferred Smoker, Standard Smoker, Tobacco user (pipes, chew, cigars, and snuff).  Then there are 16 substandard tables that measure impairments, recreational and vocational hazards.
     
    Answered on June 18, 2013
  2. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    The rate class of a life insurance policy can also be called the risk class, or health rating. It is the class that you are put in based on your health and other risk factors (family history, dangerous hobbies, health conditions, weight, and many other things figure in). The rate classes go from one step above Preferred to Table 8, with most Term policies. One table rating usually adds 25% onto the Standard rate, although this calculation varies among companies.
    Answered on June 19, 2013
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