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What is a tier rating?

April 26, 2017rating Tier

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What is a tier rating?

1 Answer

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When you apply for insurance the insurance company will underwriter review your medical conditions. If you have medical conditions that represent an unacceptable risk to the company it may decline to offer you coverage. If your conditions represent a risk greater than standard but are still insurable they may offer you insurance at a higher premium rate. These are called “tiers” and usually represent a percentage increase of the published rates.