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Did you apply for life insurance and get table rated?
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Chances are if you are reading about life insurance table ratings, you applied for life insurance expecting one price.....only to receive an approval at a more expensive rate, right?
Most people visiting this page just waited 6-8 weeks for life insurance underwriting approval and the approved rate is twice as much as your original quote. %$&*#$!! We know how you feel....But
Here's How We Can Help You:
Life Insurance Underwriting - If the life insurance quote you received from your prior agent was wrong, chances are that the insurance agent did not properly qualify you upfront...it happens all the time with some insurance agents.
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Why We Are Different:
We spend the time with you upfront asking you underwriting questions and gathering accurate information so that you get realistic life insurance quotes....the first time!
You'll see from our life insurance quote request that it is very detailed. We also call you to confirm your information before we quote you....
Don't worry though, there is NEVER any obligation or pressure with our service. If you change your mind, simply tell us to close your file, no problem.
After we receive your information we will provide you with accurate life insurance quotes.
Keep in mind that each table rating assigned to you by a life insurance company represents almost 25% more to the price you pay. If we can save you 1 table by getting you to the right company, you will save a lot of money.
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Are You Currently paying for a Table Rated Policy?
You may be able to pay less! If you are with the wrong life insurance company, or your health has improved, or some time has passed, it may be possible to get a life insurance company to approve you at a better life insurance rate! Let us try for you....There's nothing to lose.
What is a Table Rating?
A table rating is an additional charge that life insurance companies assign to your life insurance policy if you have a health problem now or in the past.
As a consumer it is important for you to know that life insurance companies handle table ratings differently. While one life insurance company may assign a table rating due to a health issue, another life insurance company may not charge you extra for the same health problem.
Every table rating assigned will add 15-25% to your life insurance cost!
As experts in impaired risk life insurance, we'll help you get the life insurance you need at the best possible life insurance rates based on your specific health history...Let us help you.
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Table Rating Overview:
Life insurance companies use underwriting manuals to determine the life insurance premium you will pay for your life insurance coverage.
Many times, if you have a health issue, life insurance companies may add an extra charge to the cost of your insurance, aka a life insurance table rating.
Table ratings are assigned to you based on the type and severity of any health issues you have. Each table rating will add 15-25% to the cost of your life insurance.
Life Insurance underwriters assign table ratings from 1-16 to your file.
The good news is that table ratings are negotiable in many cases if you get to the right life insurance company! We'll help you get there.
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Do You Want to Overpay for your Life Insurance??
Of course not! You want to get the life insurance coverage you need at the lowest possible price, right??
Example:
We'll use diabetes life insurance underwriting as an example.
With diabetes life insurance underwriting, the general rule of underwriting is that if you have good control, etc.. the life insurance companies will assign you the standard rate plus an additional Table 2 rating on top, adding 50% to your cost!
Well, that is terrible...Here's why.
There are now a number of life insurance companies that took the time to better understand diabetes, understand consumers with good control vs those that ignore doctors advice.
If you take care of yourself, have good diabetes control, take your medications as directed, it may be possible to get "standard" life insurance rates with some life insurance companies.....potentially saving you 50% or more!!!
Our diabetes life insurance underwriting guidelines will help you get there!
Life insurance table ratings are subject to negotiation.... sometimes!
Life insurance underwriters will determine your life insurance rate according to the life insurance company guidelines, and possibly additional table ratings as required by reinsurance underwriting manuals.
There are times when the underwriting manuals may say that your life insurance rate should be a table 4 rating.....That's where we can help.
Sometimes, we are able to negotiate a lesser table rating with a life insurance company and save you money on your life insurance premiums.
So, what the heck is a table rating and how will it affect my life insurance rates???
A table rating is assigned a number, typically between 1-16. The higher the table rating is, the more expensive your life insurance coverage will be. Life insurance companies add table ratings to your price as the health issue risks become more significant....But guess what???? Every life insurance company is different, and some life insurance companies charge more for their table ratings than other life insurance companies!
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How Much Extra $$$ will this table rating cost me?
Each table rating assigned to your policy will typically (MORE ON THIS BELOW) increase your premium by approximately 25% to the price of the standard rate.
Table Rating Example: An insured with a health impairment goes through life insurance underwriting and is offered a "non-smoker table 2 rate".
If the standard rate was $1,000, a table 2 rating would add approximately $500 to your life insurance premium, increasing your premium to $1500 per year. ($1,000 premium x 25% = $250 per table rating x 2 table ratings = $500. The $500 would be added to the $1,000 = $1,500 per year.
If the underwriting offer was a Table 4, it would add $1,000 to the price ($1000 x 25%=$250 x 4 = $1000) bringing the total to $2,000 per year!
Have You Been Table Rated???
If you have been through life insurance underwriting and received a table rating, we definitely need to speak.
Sometimes we can do better for you if you are not with the correct life insurance company.
The flip side is that sometimes an insured will receive a table rating offer that is very aggressive. If you already have the best rate available, we'll tell you that.
Call us today at 800-909-2040 to discuss or take a minute to complete our Life Insurance Quote Request There is never any obligation or pressure with our life insurance service. We'll give you the information you need in order to make an informed decision about your life insurance.
But wait.....there's more to Table Ratings
Table Ratings may vary depending on which life insurance company you go to....that's right, there is no simple answer to each case, here's why:
Things that affect Life Insurance Table Ratings:
- Table Rating Percentage - Some life insurance companies charge 25% per every table, while others charge 15-20% per table. Even though some companies charge a lower % per table, they may be less aggressive with underwriting and ultimately cost you more money. Look at the total cost to you vs. what the table rating % is.
- Standard Plus vs Standard - "Standard plus" rates are generally speaking less expensive than "standard" rates. Some life insurance companies will base their table ratings off of the standard plus rate, while others will base the table rating off the standard rate....to make if even more confusing, there are some health impairments where a life insurance company will only use the standard rate when determing the price you pay! We'll help you get the best life insurance rate based on your individual circumstances.
- Table Rating Duration - The length of time that a life insurance company will charge you the table rating may vary depending on the company...Some companies may charge you a table rating for the entire term of your policy, or may charge the table rating for a period of time such as 5 or 10 years. The table rating would then drop off and your rate would be the "standard" rate for the rest of the term.
- Table Shave Programs - Some life insurance companies offer "table shave" programs....as an example, some companies will offer the standard rate to anyone who qualifies for a table rating of 1-4....the catch is that the table shave programs will only apply if you buy permanent insurance, not term insurance....It is important to know that if you are table rated for your life insurance policy, it may be in your best interest to compare the cost of a permanent life insurance policy at the standard rate vs. a term life insurance policy at a table 4 rate...
- Underwriting Expertise - Life insurance companies will review your medical history, health impairments, and current health in order to determine the life insurance rate they will charge you, that's where we can help. If there are positive factors that may improve your rate, we bring that information to the underwriter's attention....sometimes it is possible to get a life insurance underwriter to make a better offer than the original offer...if a life insurance company offers you a table 4 rate, and we get them to issue that policy at a table 2 rate, you will save $$$$.
- Life Insurance Company Niche - Each life insurance company has its own area of expertise...some companies are very aggressive with certain health issues such as prostate cancer, heart disease, diabetes, etc. while others are very conservative and charge more....we know the life insurance companies and the expertise of each life insurance company. We'll get you to the best life insurance company based on your specific health issues.
Life Insurance Quote Request - (This will open a new window, giving you secure environment to submit info)
What to expect from life insurance companies:
The best way for us to help you is to have you submit our
Life Insurance Quote Request
or
Give us a call at Toll Free 800-909-2040
At LifeInsuranceAdvisors.com, our life insurance service is a no pressure, no obligation service. We'll give you the information you need to make an informed decision about your life insurance. Call us today at Toll Free (800) 909-2040. Thank you.
If You have health issues, it is important that we know about those health issues in order to provide you with the most accurate term life insurance quotes possible. You will find more information here about health issues such as:
Alcohol Related, Angioplasty, Asthma, Bipolar, Blood Pressure, Build, Cancer, Crohn's, Depression, Diabetes, Family History, Heart Disease, Hepatitis, Liver Enzymes, Melanoma, Sleep Apnea, Tobacco Use, Ulcerative Colitis, and many more Impaired Risk Life Insurance topics.
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