Life Insurance Table Ratings

Life Insurance Table Ratings Understanding your risk to the insurance cómpany. Q: What is a table rating? &7 A: It's a premium increase for any individual who can't be approved at a standard rate or better rate. This is Steve. Steve was just approved for life insurance today! "Unfortunately, Steve, you've been rated a Table 4," said his life insurance agent. "So... is that good?" he replied. You're approved, so it's great! But, you'll pay more because the carrier sees you as more risky than average. Table Rating Guide Table 1: +25% Table 5: +125% Table 2: +50% Table 6: +150% Table 3: +75% Table 7: +175% Table 4: +100% Table 8: +200% Let's calculate for him.. Steve's Initial Premium: $100 Each Table Rating is 25% Extra so, Table 4: +100% Steve's New Premium: $200