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Explaining The Life Insurance Rate Classes Today, I want to breakdown the life insurance rate classes so hopefully will it make a little more sense. Life insurance rate classes can be confusing. Life insurance companies use rate classes to define your risk.  The best rate class equates to the lowest the risk-i.e. mortality. Most life insurers will usually have the same levels of rate classes but will just use different names.  For example, Prudential calls their best rate class Preferred Best, while ING ReliaStar uses the name Super Preferred and then American General call their best rate class Preferred Plus.  […]