What Is Build Chart? Definition | Epic Life Glossary

Why it matters

Each carrier has its own chart, and the numbers differ by class and sometimes by age. Being above or below the range can raise the premium or lead to a decline. Agents often check the chart before submitting a case to choose the best carrier for the client. Charts are not public for all carriers.

Source: naic.org

Related terms

Underwriting Class: An underwriting class is the group a carrier places an applicant in after review, such as preferred or standard. Each class has its own premium rate, with healthier groups paying less.
Risk Class: A risk class is the category of insured people a carrier uses to group applicants with similar expected risk. It decides which premium rate the applicant pays.
Preferred Plus: Preferred plus is usually the best underwriting class a carrier offers. It is for applicants in excellent health with very good build, clean records, and no tobacco use, and it carries the lowest premium.
Standard: Standard is the underwriting class for applicants with average health and risk for their age. It is the benchmark that other classes are priced against.
Underwriting: Underwriting is the process a carrier uses to review an application, judge the risk, and decide whether to offer coverage and at what price. It looks at health, age, habits, and history.

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Why it matters

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