Jonathan Morris: Should a client take a rated quote?

When an applicant is told by an insurance company that they are not in perfect health, it can be a difficult message to hear. This is especially true, where the medical underwriting process has discovered an issue that the applicant was not previously aware of. Often people's first reaction is to question whether the life offices are simply trying to squeeze them for more money, since medical issues tend to result in increased premiums. These increased premiums are known as ‘rated quotes'.   The standard insurance price (also known as the standard rate or ordinary rate) quoted by insu...