Is there a big difference between a standard rate and a preffered rate in life insurance?

Question

I am a recovering alcoholic and am told that I may have to pay a standard rate. prefferd rate for $200,000. is $567.00

Answer 1

The difference can be substantial.  You won't know until they complete the underwriting process.

Answer 2

preferred rate is for what i call a super person...no habits..perfect health etc...where standard is more expensive because you have had issues in the past...because of health issues...i can't get insurance....used to manage an insurance office and be licensed also..

Answer 3

it's all based upon your health.  it can be a lot higher, but it depends what category you end up in...they will let you know after they underwrite the policy.  You can accept it or not.  Each year you can apply for a new rate, depending where it is today.  good luck.

Answer 4

It depends on the company.  Some companies, it's possible that the standard rate is lower than another company's preferred rate.