With your own medical records and your family medical history, the company determined which risk category you in are. Insurance companies generally share its customers into four risk categories: preferred, standard, low quality or insurable. Here is what means that each category:
You can pay the life insurance bills, property taxes, take care of a spouse or create a legacy for your love one to help at your death. But the advantage of your life comes at a price of premiums you pay for it. And that cost in large part determined by which the life insurance company holds your remaining life expectancy at the apply. That is the risk you represent for them. Here are your opinion categories and reasons.
B. preferred – are a low risk. Youre not sick; You have no high-intensity activity or hobby. and you have a good testimony. You pay a lower premium.
B. standard – you are an average risk. You can have not had some issues of health in the past but of a terminal illness or a high-risk activity or hobby. You pay an average premium for all other similarly situated insured clients.
B. standard – have a high risk job, such as pilot, scaffolding workers or divers; or have a chronic disease such as diabetes, heart disease or high blood pressure. You pay a higher premium.
B. insurable – you have a terminal illness. They are a high risk. In fact, you can categorize different insurance differently. And that can mean lower premiums. So, it pays to shop around.
If you have had a disease or health condition, it is advisable to work to find with people in similar situations, the best deal with a professional. He you will receive offers from many different insurance companies. Unfortunately once you have rated poor by a company must open set, that all the other insurance when you apply for coverage.
Curious about your life expectancy? Actuaries and statisticians have tracking average life expectancy and the factors that was for decades, which tends to increase or decrease life expectancy. Our sex and genetic make-up are key factors in predicting longevity. Other factors – habits of health and activities – are in our ability to change.
Look at the statistics you see properties at http://gosset.wharton.upenn.edu/mortality/perl/CalcForm.html.