Rated Life Insurance Explained
A rated life insurance policy is a policy is also often referred to as a substandard policy. A person with less than average health or who has a high-risk occupation may receive a rated or substandard life insurance policy. This would result in a higher premium rate if you choose to accept the life insurance policy. Often times, the rating may be an additional percent of the total premium or a flat extra amount of premium per $1,000 of death benefit.