What Is Preferred Plus? Definition

Why it matters

Standards differ by carrier, but usually include strong blood pressure and cholesterol readings and a healthy family history. Few applicants qualify. Many policies, especially final expense, do not offer it. Ask the carrier for its exact rules, since a small difference in a test can change the class. Ask each carrier for its list.

Source: naic.org

Related terms

Preferred: Preferred is an underwriting class just below preferred plus. It is for applicants in very good health, and it carries lower premiums than the standard classes do.
Standard Plus: Standard plus is an underwriting class between preferred and standard. It is meant for applicants in good health who miss a few of the preferred requirements.
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.
Build Chart: A build chart is a table that compares height and weight to acceptable ranges for each underwriting class. Carriers use it to decide whether an applicant's build supports a class.

All 241 terms

Why it matters

Talk to a licensed agent.