Underwriting is the process by which a life insurance carrier evaluates the risk of insuring an applicant and assigns a premium rate that reflects that risk. For Florida residents, understanding how underwriting works helps explain why two people with the same age can pay dramatically different premiums, and what you can do to obtain the most favorable offer available to you.
The underwriting process typically runs from the time you submit a completed application to the time the carrier issues a formal offer of coverage. That window can be as short as a few minutes — for applicants using accelerated algorithmic underwriting — or as long as 6–10 weeks for complex cases requiring medical records review.
The three primary databases checked during underwriting are often unknown to applicants:
The MIB is an industry database that stores coded records of information previously submitted on insurance applications. If you applied for life or health insurance in the past and disclosed a medical condition, that information may appear in the MIB. It does not contain your full medical records — only codes indicating prior disclosures. Carriers use it to check for inconsistencies between your current application and prior applications. You can request your MIB file at mib.com.
Carriers query national prescription databases (often through vendors like Milliman IntelliScript) to obtain your prescription history for the past 5–10 years. This reveals medications you are currently taking or have taken, which informs the underwriter about conditions you may not have mentioned. For example, antihypertensive medications indicate a history of high blood pressure; metformin indicates diabetes management.
Your driving record is reviewed primarily to assess lifestyle risk. Multiple DUIs, serious traffic violations, or a reckless driving history can result in a table rating or declination. A clean driving record has no negative effect.
| Rate Class | Who Qualifies | Premium Impact vs. Standard |
|---|---|---|
| Preferred Plus / Super Preferred | Excellent health; ideal lab results; no significant family history; clean MVR; BMI within optimal range | 20–40% below Standard |
| Preferred | Very good health; minor health factors (cholesterol slightly elevated, well-controlled BP); good family history | 10–25% below Standard |
| Standard Plus | Above-average health; some mild risk factors; good lab results | 5–10% below Standard |
| Standard | Average health for age; some risk factors present; average build | Baseline (1.0x) |
| Table 2 (Substandard) | Elevated risk — e.g., controlled diabetes, moderate obesity, well-treated heart condition | +50% above Standard |
| Table 4 (Substandard) | Significant risk — e.g., recent cardiac event, poorly controlled diabetes, prior cancer | +100% above Standard (2x) |
| Table 6+ (Substandard) | High risk — multiple serious conditions, recent serious events | +150% and above |
| Declination | Risk too high to offer coverage at any table rating | No offer; guaranteed issue may be available |
A table rating means the carrier is willing to offer you coverage, but at a premium above the standard rate because your risk profile presents elevated mortality. Common reasons for table ratings include:
Table ratings are assigned on a spectrum — typically Table 2 through Table 8 or higher, each adding roughly 25% to the standard premium per table. A Table 2 rating on a $100/month standard policy costs approximately $150/month; Table 4 costs approximately $200/month. Rates still vary by carrier — one carrier's Table 4 for a specific condition may be another carrier's Table 2, which is why shopping multiple carriers is essential for anyone with health history.
Accelerated underwriting is faster and more convenient, but it is not necessarily better for every applicant. For healthy applicants under age 50, accelerated underwriting typically produces the same rate class outcome as traditional underwriting — the algorithmic scoring and database checks often tell the same story as a physical exam and lab work.
For applicants with health conditions, however, full lab work can sometimes work in your favor. A paramedical exam with excellent current lab results may produce a better classification than the prescription database alone would suggest. An experienced insurance broker can advise on which approach is likely to produce the most favorable offer for your specific health situation. Florida residents with complex medical histories should consult an independent broker familiar with multiple carriers and their underwriting niches. For general Florida insurance resources, Sunstate Coverage provides additional consumer information.
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Start My ApplicationStandard full underwriting — including a paramedical exam, lab review, and records check — typically takes 2 to 6 weeks from the completed application date. Accelerated underwriting using algorithmic scoring can issue a decision in minutes to days for qualified applicants. Complex cases involving health history or large coverage amounts may take 6–10 weeks or longer.
Carriers routinely check three databases: the MIB (Medical Information Bureau), which records prior insurance application information; the prescription drug database (Rx history), which reveals current and past medications; and your MVR (motor vehicle record), which shows driving history. They also order an Attending Physician Statement (APS) from your doctor if your application discloses significant medical history.
Table rating is a system carriers use to offer coverage to applicants with elevated mortality risk at a higher premium than the standard rate. Each table typically adds approximately 25% to the standard premium. Table 2 adds 50% more than standard; Table 4 doubles the standard premium. Table ratings allow carriers to cover higher-risk applicants while pricing accurately for the additional risk.
Yes. Accelerated underwriting — also called non-medical underwriting — is available from most major carriers for eligible applicants, generally up to $500,000 to $1 million in coverage depending on the carrier. The process uses algorithmic scoring based on the prescription database, MIB, MVR, and credit-based insurance score rather than a physical exam. Not all applicants qualify; those with significant health history may be required to complete traditional underwriting.