EXPLAINED ratings:

Guaranteed, ROP, Graded or Modified

On the Whole Cheat Sheet, if it says Guaranteed, ROP, Graded or Modified, all of these terms essentially mean the same thing. Different carriers, for some reason, have different terms they use for rating classes, but they all mean the same thing. It means. 2 year waiting period.  If the client dies of natural causes in the first two years, the death benefit will NOT pay out, the premiums will be returned to the beneficiary, plus 10% interest. 

Guaranteed, ROP, Graded or Modified rated policies pay about 30%-50% less commission as well. And cost about 40% more that a Preferred, Standard or Immediate Rating Class.