|
|
|
Canadian life insurance companies publish their rates using various health categories. While individual companie have different names for these categories, the industry standard database of life insurance companies' prices published by Compulife® which you can access on the right side of of this page, places these quotes into four categories: Regular, Regular Plus, Preferred, and Preferred Plus.
The insurance companies do not publish (even to brokers) their complete criteria to determine which health category you fall into. As a result, there is no foolproof way to determine which health category you actually are.
Some of the things that are taken into account are your current and past health history, your family health history, and your finances. Your health history includes many markers that will be measured during a paramedical exam, such as blood pressure, triglicerides, and many other factors. Since generally we don't know these factors ahead of time (and even if we did, the companies tend not to publish their guidelines anyway) once again we are left with no easy way to determine which health class we will be in.
Our recommendation is to assume 'regular' health if you are in good health. We recommend you also use regular health for your quotes even if you consider yourself in very good health. Most Canadians who are in good or very good health will receive 'regular' rates, so it tends to be the best assumption.
Note however, that if you actually qualify for the better 'preferred' health class that the insurance companies will issue your policy at these better rates anyway. There's nothing you have to do. If you apply at regular rates but qualify for the preferred, your policy will be issued preferred automatically.
Ultimately, we recommend you assume regular rates if you are in good health, as that's the rates you are most likely to receive. |
|
|
|
|
Instant Canadian life insurance quote on prices
|
|
|
|
|
