What Is a Rated Life Insurance Premium?

What Is a Rated Life Insurance Premium?

During the underwriting process, an insurance company will determine whether or not you qualify for life insurance and, if so, at what rate classification. At this point, the company may determine that the applied for coverage cannot be issued due to an applicant’s health or lifestyle risks. If that’s the case, the company is likely to offer the applicant insurance on a modified (i.e., rated) basis.

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