Worried that your weight will impact your life insurance premiums?

Ross Quade | General | 6 Jan, 2016 | No Comments

 

If you’re getting ready to find coverage and are wondering whether or not weight will be an issue, you’ve come to the right place. Here at TermLifeInsurance.com, we understand first hand just how difficult it can be to find straightforward answers to your coverage questions.

 

Which is why we’ve broken down everything you need to know when it comes to weight and life insurance coverage.

 

Why Do Insurers Care About Weight?

First and foremost, let’s go ahead and address this one right off the bat. Why do insurers really care about weight, especially if you don’t possess any major health risks?

 

SEE ALSO: Life Insurance Rate Classes: Here’s What You Need To Know

 

Although a grim subject by nature, life insurance providers need to know about weight because it is by far one of the most important indicators of your health. Being overweight can lead to adverse health effects and has been shown to lead to a shorter lifespan.

 

Does The Amount Of Weight Matter?

However, if you’re like a lot of people you are probably wondering how much is too much? After all, are life insurance providers going to charge you an arm and a leg for being a few pounds overweight?

 

Highly unlikely, a good rule of thumb is to take your weight into consideration by your overall BMI as this number gives a more holistic picture of your health. Generally, any BMI that is above 30 will be considered obese by insurers, which means that you can expect to pay higher premiums and more for coverage.

 

SEE ALSO: What Are Your Options If You Are Overweight?

 

On the other hand, a BMI under 30 is considered healthy and will give you the best chance at better life insurance options and premiums.

 

Is It Possible For Premiums To Decrease?

Now that you have a better idea about how weight will impact your coverage options, you may be wondering if it is possible for your premiums to ever decrease.

 

After all, if you are classified as overweight by one insurer does that mean all insurers will now classify you as overweight?

 

Certainly not! In fact, it is possible to move to a better rate class and qualify for lower premiums if your health improves. Depending upon how much weight is lost, you can improve your options significantly, saving you hundreds possible even thousands a year.

 

However, keep in mind that if you are currently enrolled in a plan that does not factor weight when it comes to coverage, you will not see any decrease in your premiums. In addition, if you are currently on a guaranteed acceptance plan with a fixed flat rate, dropping weight is unlikely to affect your premiums.

 

What’s The Best Way To Find Affordable Coverage?

So, what’s the best way to find affordable coverage? Should you plan on keeping your existing plan or begin searching for alternatives?

 

While there’s no single right answer here, the best thing you can do for yourself by far when it comes to life insurance coverage is to explore your options. Every insurer is unique, which means that there is no set standard to the exact amount you can expect pay for coverage.

 

To begin getting a better idea of your options, be sure to request a quote here today.

 

Featured image via healthwaysfit




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