Obesity

What Are Your Options If You Are Overweight?

One of the biggest factors that many insurance companies use to gauge your health profile is your weight. Many providers will ask that you answer a series of health questions, or will require a medical exam before starting coverage. For people deemed obese, the cost of a policy can go up and some companies may not cover you at all. Others will not require a health screening, or will not take your weight into consideration when quoting a plan.

Why Does Weight Affect The Cost Of Insurance?

It may seem somewhat grim, but in a way, the life insurance companies are making bets on how long you will live. Since you pay them each month you are alive, and they only pay you if you die, it is better for them if you live for a very long time. For this reason, people who the provider decides will most likely live longer are given better rates, while those with a high risk of dying must pay more.

Weight has proven to be a reliable predictor of life expectancy. Unfortunately, heavier people do not usually live as long as people who are thin. There are, of course, exceptions to this rule, but obesity is generally a good rule of thumb that can tell a lot about your total health. Much like when you quit smoking, you will find that you have more choices and better plans available if you are not considered above average in weight.

When you are overweight, you are also more likely to develop other conditions that insurance companies consider risky. Heart disease, diabetes, and other complications are common for obese individuals, making insurance even more expensive. Reducing your weight can help you save on insurance premiums, as well as reduce your long term health risks and improve your quality of life.

Will My Rates Go Down If I Lose Weight?

If you are currently considered above average in weight, losing enough weight to qualify as average will allow you to request a re-evaluation of your risk profile. By reducing your body weight, you have improved your total health profile as well as increased your life expectancy. Since you now pose a lower risk to the provider, you will often find that this leads to lower monthly premiums and out of pocket costs.

If you are enrolled in a plan that does not factor in your weight, however, you won’t see any change in price or benefits. If you are on a guaranteed acceptance plan, for example, you may be paying a flat rate for a fixed set of benefits that do not take health into account. If you cannot change the cost of an existing plan, you may now qualify for a different kind of coverage, and it may be worth reassessing your insurance options.

What Qualifies As Over Weight Or Obese?

You may be wondering how insurance companies decide at what point you should be considered obese, or “above average.” The method used is the same as most doctors and even gyms, known as BMI, or body mass index. For body mass index, your height and weight are used to determine your risk for developing a number of conditions and lifespan.

Usually, a BMI of 30 or greater is considered obese, although providers can set their own standards. A BMI under 30 is considered healthy, and gives you the best chance at better life insurance premiums and coverage.

Explore Your Options For Life Insurance Coverage

Whether you are currently overweight, or are just exploring options for insurance coverage, Term Life Insurance can help you get quotes from a number of providers. If you are currently considered obese, you may still be able to find valuable insurance options. Request a quote here today, and discover the life insurance coverage options that you have available.