A rated premium means you are paying higher than the standard rate for your life insurance. This may be the case if you are considered a higher than average risk for life insurance.
You are accessed for life insurance based on the risk you present to the life insurance company of having to pay a claim. The higher the risk, the higher your rate for life insurance.
You may be rated for life insurance due to any number of health issues, such as, high blood pressure, high cholesterol, STD's, diabetes, etc.
I you are considered too high of a risk to insure for life insurance, the insurance carrier may decline you application for coverage.
Some reasons people are declined for life insurance may include use of illegal drugs, HIV/AIDS, old age, chronic health problems, kidney problems, liver problems, alcoholism, or obesity.
However, even if you have been declined for life insurance you may still be able to qualify for guaranteed acceptance life insurance. However, the rates are high and the amount of life insurance available may be limited to $20,000 or less.