What determines your rates?

Mystery Unveiled!

For more information, call 800-472-5367 or email insurance911@yahoo.com

At age 45, 50% of the American Population is expected to live 37.7 years to age 82.7. The insurance company wants to know which 50th percentile you are in.  If you CHOOSE to exercise regularly, eat properly, submit to regular physical exams and avoid risky behavior you can offset some genetic attributions of diseases (family history under age 60) such as diabetes, cancer and heart disease.  By exhibiting control of your weight, cholesterol and blood pressure, you are a candidate for a preferred rate class. The better the rate class the better the rate.

Underwriting is the practice of assigning a weighted numerical  value to a plethora of risks that will affect the likelihood of you surviving your life expectancy. In consideration will be your income and lifestyle, medical history, family history and general health, as well as hazardous vocations, avocations and travel.

The underwriter will determine your rate class based on your life expectancy and the evaluation of the above risk factors. The underwriter will “sign off” by writing their name under your risk; Hence the name “underwriter”.

Assessments of risk, which may qualify you for a rate class for one company, may not qualify you for the same rate class with another company ALSO; the rates within a company’s rate classes (P+) are not the same in another company’s (P+) rate class. That is why you need a broker to work with you after you have printed the spreadsheet of winning bids off my website (www.InterNetInsuranceMan.com)

On my rate calculator, you will find life insurance companies use these NON-TOBACCO rate classes:

  • Preferred Plus (P+) also known as preferred elite which may show irreverently as P++
  • Preferred
  • Standard Plus(R+)
  • Standard (R)
  • Substandard ( on request only call me 800-472-5367)

I do not provide a “Health Analyzer” on my web site as it takes me six months to train my staff how to evaluate and disclose health conditions on the application. Don’t expect accurate results if you are not aware of the minutiae in determining your rate class. When you apply for coverage with any company you will be offered the best class available. For example, you apply for standard rate (R) with William Penn/Banner and you were previously rated with XYZ for your diabetes; William Penn may offer you STANDARD PLUS(+) because they are the “go to guys” for diabetics exhibiting an A1c under 7.0. If you had a nasty case of COLON  CANCER then Protective Life or HARTFORD are your “go to guys” for a Standard rate class; I can represent your case to these companies as they do not entertain direct business. In short call a good broker with your bid sheet or click “ask for more information.”  We will work with you as your broker.

Life insurance rate classifications

While shopping on line do your self a favor and guess which rate class you feel you will qualify. If you exercise regularly, watch your diet enjoy a clean DMV and family history then you are probably P+ ! If you take meds for Cholesterol & High Blood Pressure you are probably still P+ but it depends on the insurance company. Print the spreadsheet then call me or e-mail me with your comments in the message box and I’ll customize your bids with the most competitive rates.

How do I qualify for the rates on the spreadsheet?

Life insurance companies will require that you submit to a medical exam and request  copies of your DMV & medical records from your attending Physician. We do all that for you if we are your broker.

This is a typical Guideline for the following rate (non tobacco) class.

Preferred Plus (P+)

  • Height/weight example 6’0 male 207 Female 180 ( just ask me for break points)
  • Excellent health history and family  history.
  • Parents and siblings exhibit no history of cardiovascular disease or internal cancer before the age of 60.
  • Quit smoking more than 3 years ago. Celebrity Cigar ok 1 per month
  • no hazardous vocation or avocation.
  • No bankruptcy or discharge of debit within past 5 years.
  • Cholesterol level <220 and total ratio < 5.0.
  • Blood Pressure <140/85.
  • Clean DMV record with no more than two moving violations in the last three years and no DUI/DWI or reckless-driving convictions in the last 5 years.
  • No Rehabilitation for drugs or alcohol.

Preferred (P)

  • Elevated blood pressure of about 145/90 or less
  • LDL Cholesterol of 260 and LDL/HDL ratio of 5.5
  • Anti depressants are okay!

Standard Plus (+) AKA Select

  • Elevated blood pressure of about 150/92 or less
  • LDL Cholesterol of 270 and LDL/HDL ratio of 6.5
  • Controlled diabetes with or without medication
  • Cancer survivors (breast, Colon)

Standard, No Nicotine

  • Elevated blood pressure of about 150/95 or less
  • LDL Cholesterol of 300 and LDL/HDL ratio of 7.9
  • Asthma
  • Cardiac Events over 5 years
  • Multiple Sclerosis

You can apply for your Life Insurance Policy now and then in six months to one year ask the life insurance company to re-examine your rate. If you have exhibited control or improved in your medical condition, you may be entitled to a lower rate.