Insurance sold through MetLife is associated with a risk class rating system. Risk classes in the products that MetLife designs and sells allow the company to take rational risks, charge appropriate premiums and fund all future promises outlined in insurance contracts. You should understand these risk classes before applying for insurance, since they affect what you pay for your policy through the company.
MetLife offers several risk class ratings on many insurance products. MetLife divides its risk rating into elite plus non-smoker, preferred plus non-smoker, standard plus non-smoker, preferred smoker, standard non-smoker and smoker. Each of these risk class ratings is associated with a different premium amount. Each risk class is associated with a higher risk to the insurance company with "elite plus non-smoker" being the least risk and "standard non-smoker" and "smoker" being the riskiest.
Your risk class is determined by your health and lifestyle. The insurance company uses urine and blood testing to determine how risky you are. MetLife then prices your premiums according to the risk you present to the company. If you do not fall into any of these risk classes, MetLife may deny you insurance coverage.
You may reapply with MetLife to change your risk class. If you are a smoker and quit smoking for 12 months, MetLife may change your risk class to "non-smoker." However, your risk class will not change to smoker if you later start smoking when you originally were rated as a smoker. You cannot hide your smoking or other lifestyle or health condition from the insurer, however, when you are signing the application and applying for insurance. The insurer may decline you coverage or change your premiums retroactively if they discover you have misrepresented your health condition at the time of application.
You may be declined for coverage if you do not fit into the risk classes set by MetLife. However, this insurance company also uses tables. A table rating is a sub-standard risk rating. The insurer may assume additional risks for insuring your life and charge an additional premium on top of the base premium normally charged for the associated risk class. This allows you to purchase insurance when you otherwise wouldn't qualify for insurance.