Life Insurance Requirements: Preferred Plus Eligibility Criteria

Life insurance companies use rating classifications to determine how much an individual will pay for coverage. These classifications are based on the applicant's health, lifestyle, and family medical history. The healthiest applicants with the lowest risk factors are placed in the Preferred Plus category and receive the lowest rates. To qualify for Preferred Plus, an individual must meet several requirements relating to their health, lifestyle, and family medical history.

No tobacco use for 3-5 years

Life insurance companies view tobacco use as a significant risk factor, and as a result, they have created distinct categories for tobacco users, with rates that can be up to three times higher than those for non-smokers. The length of time since an applicant last used tobacco is a critical factor in determining their insurance rating classification and, consequently, their premium rates.

To achieve the best rating class, which is typically referred to as "super preferred" or "preferred plus", an individual must meet several requirements, including abstaining from tobacco use for a certain period. While the specific requirements vary across insurance companies, most require applicants to be tobacco-free for at least three to five years to attain the best rating class. This extended period without tobacco use demonstrates a reduced risk level, which is favourable when applying for life insurance.

The exact duration of tobacco abstinence necessary to qualify for the preferred plus classification depends on the specific insurance company and their guidelines. Some companies require a minimum of three years, while others mandate a five-year period of abstinence. This variation is due to differences in company policies and their assessment of risk factors.

It is important to note that insurance companies conduct thorough evaluations to determine an individual's eligibility for the preferred plus category. They may request a medical exam, review medical records, and conduct personal interviews to ascertain the applicant's tobacco use history. Being honest about your smoking history is critical, as providing false information could result in legal consequences and claim denials.

If you are considering applying for life insurance and aiming for the preferred plus classification, it is advisable to review the specific requirements of multiple insurance companies. Comparing their criteria and rates will help you make an informed decision about which provider is most suitable for your needs.

No family history of early death from cancer or heart disease

Life insurance companies use rating classifications to determine how much an individual will pay for their insurance. These classifications are based on the individual's health, lifestyle, and family health history. The healthiest people with the safest lifestyles are placed in the categories that qualify them for the lowest rates.

One of the classifications is called "Preferred Plus". People in this category are considered very healthy and have a good weight for their height. They don't smoke or use tobacco, don't have serious health problems, and don't have a history of serious health issues in their family. This means that they haven't had a parent or sibling who died from cancer or heart disease before the age of 60 or 65.

If you don't have a family history of early death from cancer or heart disease, you may fall into the Preferred Plus category, depending on other factors. This means that you have a lower risk of developing these diseases yourself and are therefore offered better insurance prices. However, it's important to note that life insurance companies have different requirements for their rating classifications, so it's always a good idea to compare prices from different companies.

Additionally, while family history is a significant factor, it's not the only one that insurance companies consider. They also look at your own medical history, lifestyle choices, occupation, and driving record, among other things. So, even if you don't have a family history of early death from cancer or heart disease, other factors may impact your insurance classification.

Overall, having no family history of early death from cancer or heart disease can be advantageous when applying for life insurance and may result in lower insurance rates. However, it's important to provide accurate and comprehensive information about your health and lifestyle to ensure you get the most accurate classification.

Blood pressure 130/80 or less

According to the American Heart Association, a blood pressure reading of 130/80 or less is considered to be within the normal range. This means that individuals with blood pressure readings in this range are generally considered to be at lower risk for developing hypertension-related health issues such as heart disease and stroke.

When it comes to life insurance, having a blood pressure reading of 130/80 or less can be advantageous. Life insurance companies often consider individuals with lower blood pressure readings to be less risky, which can result in lower insurance rates. For example, individuals who meet certain other requirements in addition to having a blood pressure of 130/80 or less may qualify for the "Preferred Plus" or "Super Preferred" rating class, which typically offers the best insurance prices.

However, it is important to note that life insurance companies also take into account other factors such as age, overall health, lifestyle choices, and family medical history when determining insurance rates. Therefore, having a blood pressure reading of 130/80 or less does not guarantee the lowest insurance rates, but it is certainly a positive factor that can contribute to more favorable rates.

Additionally, it is worth mentioning that the American Heart Association's guidelines for normal blood pressure are just that—guidelines. Some life insurance companies may use slightly different thresholds for determining risk levels associated with blood pressure readings. As such, it is always a good idea to shop around and compare rates from multiple providers to ensure you are getting the best possible terms.

In summary, maintaining a blood pressure reading of 130/80 or less is beneficial not only for your overall health but also for potentially reducing your life insurance rates. By combining this healthy blood pressure level with other positive lifestyle factors, you can increase your chances of obtaining favorable insurance rates and improving your overall well-being.

Total cholesterol 200 or less

Total cholesterol levels are just one factor that insurance companies consider when determining an individual's eligibility for life insurance and the premiums they will pay. While some insurers may offer their best rates to applicants with total cholesterol levels below 200 mg/dL, others may offer their best rates to those with levels below 230 mg/dL or even 275 mg/dL.

In general, insurance companies are more concerned with an applicant's ratio of total cholesterol to HDL ("good" cholesterol) than their total cholesterol level. A lower ratio indicates a lower risk of heart disease and is viewed more favourably by insurers. To calculate this ratio, an individual's total cholesterol number is divided by their HDL level. For example, a total cholesterol level of 200 and an HDL level of 40 would give a ratio of 5.0. According to the American Heart Association, a ratio of 5:1 or less is optimal.

It is important to note that each insurance company has its own guidelines for acceptable cholesterol levels, and an applicant's overall health profile, age, gender, lifestyle habits, and other factors will also be considered when determining their eligibility and premiums.

For individuals with high cholesterol, taking medication to manage their condition can be viewed positively by insurance companies, as it indicates that they are proactively treating their condition and reducing their risk of heart disease. Additionally, making lifestyle changes, such as improving one's diet and increasing physical activity, can help lower cholesterol levels and potentially improve one's eligibility for life insurance.

No history of cancer or cardiovascular disease

To obtain a life insurance policy with a Preferred Plus rating, applicants must meet several health and lifestyle requirements. This is the best rating class an applicant can qualify for, and it comes with the lowest insurance premiums.

One of the requirements to obtain a Preferred Plus life insurance policy is to have no history of cancer or cardiovascular disease. Applicants must not have had any cardiovascular problems, coronary artery disease, or cancer. This criterion also extends to family history, with insurance companies typically asking whether any family members have suffered from these conditions or died before a certain age (usually 60 or 65) as a direct result.

Additionally, applicants must have no history of diabetes, no alcohol or substance abuse within the previous seven years, and a clean driving record. They must also meet specific height, weight, and blood pressure requirements, as well as have normal cholesterol levels.

Overall, applicants for Preferred Plus life insurance must be in excellent health, with no serious health problems or family history of early death due to cancer or heart disease.

Frequently asked questions