The cost of life insurance depends on a number of factors, but few have a greater weight than, yes – your weight. Because insurers see overweight or obese applicants as high risks, many will deny coverage coverage or simply take out life insurance rates that are extremely high. Read on to learn more about why your weight is important.
Extra pounds = higher prices
Most insurance companies will assess how much body fat you carry by calculating your body mass index (BMI).
- By using your height and your weight in this calculation, they can determine if applicants are overweight or obese.
- A BMI between 25 and 29.9 is considered overweight.
- A BMI over 30 is considered overweight.
If an applicant's BMI is very low (below 1
Not only will you need to spend more on life insurance, but being overweight or obese puts you at risk for conditions such as coronary heart disease, type 2 diabetes, high cholesterol and more.
Use the following tips to achieve a well-balanced diet and a healthy body.
- Avoid high-fat foods high in calories
- Monitor your c alcohol intake. Your ideal daily calorie needs largely depend on your age, gender, and activity level
- Visit choosemyplate.gov/ to learn more about healthy eating habits that keep you trimmed
Centers for Disease Control and Prevention reports that nearly 35% of American adults are classified as overweight, making them "high-risk" applicants to life insurance providers. Find the lower life insurance rates you want by maintaining a healthy weight.
If you are considered overweight or obese according to the CDC guidelines, your life insurance rates may be higher than if you meet their criteria for a healthy weight, but that does not mean that you cannot or should not buy life insurance. It just means that it is more important to shop to ensure that you get the best prices for your construction and health profile.
Should You Lose Weight Before Applying For Life Insurance?
If you need life insurance, the best course of action is to apply and get the coverage you need as soon as possible. Waiting until you lose weight is seldom a good option as it leaves your family unprotected.
Losing weight immediately before or after you apply will not lower your prices either. An insurer rarely gives you "full credit" for weight loss in the last 12 months. This means that if you weigh 240 kg at the medical examination but you weighed 280 kg a few months ago, they will not use 240 in your height-to-weight chart. What they use depends on the company. Some companies may do something called a "half credit", which calculates your weight for the table as your current weight plus half of the weight you recently lost. In this example, this means that your weight for the table would be 260.
Reuse or reconsideration after losing weight
If you have lost weight but still have higher prices than you want, or if you If you lose weight in the future, you may be able to reduce your life insurance premiums even after you have insurance. Simply apply again after maintaining a lower weight for a year or more. Your rates may come back lower, especially if the insurer offers better rates to people who have lost weight. A second option is to make a petition to your life insurance company so that you can take your medical examination again one or two years after the insurance takes effect. This is called reconsideration and it can lower your premiums if your health has improved.
We are here to help
Just because you are overweight does not mean they can not get life insurance. That's what we're here for. We can work with different insurance companies to get the coverage needed. And if someone loses weight in the future, we will work with the insurance company to get an updated medical examination and premiums.
Ultimately, consumers should not let their weight deter them from protecting their family and everything that is important to them. Contact us today if we can help.