Classifications

Predicting which class you probably fall into is important for receiving accurate life insurance quotes, especially when you’re shopping online. It may be tempting to select the “preferred plus” class for yourself in order to see the lowest rates, but don’t set yourself up for disappointment if you don’t receive that rating.

Underwriters require applicants to submit a number of tests to determine your rate. This may include medical records, a physician statement, EKG and Home Office Specimen (SMAC).

Keep in mind that nicotine usage does not only refer to cigarette smoking, but also nicotine patches, nicotine gum and smokeless tobacco — anything that puts nicotine into your bloodstream. Occasional cigar smoking does not count if you smoke 12 or less per year.

While every life insurance company has its own guidelines for requirements for the above classes, here are some predictors:

Preferred Plus No Nicotine

It’s possible to be in good health and still not qualify for Preferred Plus. This category carries very stringent health qualifications and is reserved for folks who are expected to live the longest.

Here is the ideal candidate for the Preferred Plus No Nicotine class:

• You are the ideal weight for your height, with a Body Mass Index (BMI) of roughly 25 or less.
• You have an excellent health history with no serious or chronic illnesses or ailments.
• Your immediate family has no history of cardiovascular disease or internal cancer before the age of 60.
• You’ve never smoked, or if you have you’ve quit for at least five years.
• You don't participate in high-risk recreational or occupational activities such as hang gliding, rock climbing, motorized racing, off-shore drilling, mining, etc.
• Your recent financial standing is excellent with no bankruptcy in the last few years.
• You have a healthy LDL cholesterol level (about 220 or less) and LDL/HDL ratio (about 5.0 or less).
• You have good average blood pressure readings of 140/85 or less.
• You have a very clean driving record with no more than one or two moving violations in the last three years and no DUIs or reckless-driving convictions in the last 5 or more years
• You’ve never required treatment for drug or alcohol abuse.

If you can’t meet all the above requirements, don’t worry. Most folks can’t, and there are still plenty of good life insurance rates out there.