What Is Standard Plus? Definition

Why it matters

It is common in term and whole life. Minor issues such as slightly higher blood pressure or a build outside the best range can place someone here. Not all carriers offer this class. The premium is higher than preferred but lower than standard. Compare carriers, since rules differ. Ask for the class name on any quote you see.

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: 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 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

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