Medical Underwriting Classifications. What you MUST Know BEFORE you apply for life insurance.

The more important consideration is not which company is the least expensive but which company will give you the best underwriting decision. A preferred from most companies will beat a standard from any company. Therefore, it is in every consumer’s interest to present the best health profile they can.

​Many consumers don’t understand health underwriting options and considerations. Below is a summary of the four primary life insurance classifications:
 
Preferred Plus or Best: Most difficult to qualify for.
Exceptional health; normal height & weight, normal cholesterol & triglycerides, normal blood pressure, clean medical history, clean driving history & no family history of parents dying from cancer or heart disease prior to age 50. Each insurance company has a chart that defines normal.
 
Preferred
Excellent health; similar to preferred plus but allows for weight and lab leeway. All doctor & hospital visits resolved with no pending open  items such as new labs, scans, tests, doctor follow ups required or medication management concerns.
 
Standard Plus
Above average health; you have minor health issues or concerns but not life threatening. If you are otherwise healthy but not more than +/- 25 lbs overweight, you may qualify for this rate but not preferred.
 
Standard
Average health; could be overweight, higher blood pressure, cholesterol, triglycerides or a family history of cancer or heart disease prior to age 50.
 
Application
It does not matter which rating you apply for, each underwriter decides on your rating.
What you should do; if anything needs to be explained, create a cover letter with details.
 
Underwriting
Underwriters will give you the best rating you qualify for.
What you should do; don’t leave any health issues open ended. Provide cover letter if needed.
 
Medical records
Doctor notes & records are very important and tell your story.
What you should do; remember doctors are trained to document all aches, pains, complaints and concerns. When you apply for life insurance, you may need to address all of these issues and to document that they have been satisfactorily resolved.
 
Para med interview and exam process
Know in advance the questions that you will be asked and know answers in advance. Have a detailed list of doctors & medications available for examiner.
What you should do; treat your interview like a deposition, just answer the question. You don’t need to volunteer any information, if the examiner needs clarification, they will ask.