Simply Explaining Insurance #128- Underwriting Life Insurance

Life insurance premiums are based on a mix of 3 things. Your age, your current state of health and your immediate family history. While I don’t get to determine what your rate is, I am going to do my best to figure it out.

We have 8-10 different rates for these policies. An average rate, preferred rates, non-preferred rates, and nicotine rates. I ask a few questions during the quoting process to try and figure out which one you are going to earn.

I start with your age, and follow up with “do you have any diagnosis or are you taking any medication”. I will also ask your height and weight. With this information, I can determine with some degree of accuracy what you are going to qualify for.

I am not just going to tell you my best rate and start the process there. Our best rate isn’t easy to earn. I find full disclosure from the start, make the entire process easier for the buyer.