What is an “Underwriting Class”?

The cost of a long-term care insurance policy is based upon several factors:

  • your age at the time you apply for the policy,
  • the benefits you choose for your policy,
  • your premium payment option (e.g. 10-pay, “pay to age 65”, lifetime pay)
  • your state of residence,
  • whether you live alone or with a spouse, partner, or other family member,
  • and your health history.
Your health history determines your “underwriting class”.  Most long-term care insurance policies have 3 different “underwriting classes”:  Preferred, Standard, and Substandard.

Preferred Health Discounts are usually 10% to 15%, but can be as high as 35% with some long-term care policies.  

The better your health history, the lower your premium.
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About Scott A. Olson

Scott A. Olson, is the author of “The Guidebook for Making Long-Term Care Insurance Easier.” He is a licensed insurance agent and has specialized in long-term care insurance since 1995. He is licensed to sell long-term care insurance in over 40 states. Scott was born and raised in New Jersey and attended Rutgers University. Scott was a caregiver for a close relative for two years. That personal experience has made him acutely aware of how to help his clients design and choose a long-term care policy that will benefit them when they need it the most. Scott and his wife Carolyn live in Redlands, California. Scott and Carolyn have four sons.