What is Table Rating and how does it work?
Table Rating is a system used by insurance companies to charge for an additional risk for people who cannot qualify for Standard Rates due to health history. The table rating system increases costs by a percentage of the standard rate and is represented by numbers or letters. Most life insurance companies charge 25% of the standard rate for each table. So, if you are rated Table B (2 tables) that means the premium will be 50% more than the standard rate. In other words, a $1,000 annual premium becomes $1,500. Table ratings stay in effect for the life of the policy.
