There are around 127 million individuals in the United States who are overweight and an added 69 million people who are obese.
With this heightened risk, life insurance companies are going to be increasing the prices for insurance policies.
Apply the answers to these questions to get a greater knowledge of life insurance for overweight people.
Life insurance, no doubt, is a great investment that you can make for those you love. It’s one unique way that you can guarantee that your household has the wealth that they demand, even if a horrible, tragic situation were to occur to you.
We know that might be kind of morbid and harsh to think about, but it’s one very important investment that you’ll make for your family.
Not planning for the inevitable is a terrible mistake to make and you never want to do that to your loved ones. Not having the coverage that they require would leave them with a massive amount of debts and other final expenses.
How Your Weight Can Affect What You Pay for Life Insurance Coverage
There are various parts that go into consideration when a person applies for life insurance – including a person’s weight. While many people who are overweight may be healthy in all other aspects, the truth is that added weight can still have an adverse effect on one’s overall life expectancy. Therefore, the life insurance underwriters take this into consideration when reviewing your application for coverage.
Today, it is estimated that more than 35 percent of Americans who are over age 20 are overweight. There are numerous reasons for this – watching too much TV, working at computers, and simply not exercising enough are just some of them.
One primary concern regarding those who are overweight is the effect that it can have on one’s cardiovascular system. With this in mind, the underwriters will typically want more information regarding your blood pressure, your cholesterol, your family history of heart disease, and your current exercise habits.
The underwriters also will be asking for additional information on your body’s build and body mass index. This can help them in determining whether your weight is in line with your height, or if you are considered more on the obese side of the equation.
In addition, questions will also typically be asked regarding whether your weight is the result of a disease, and also whether or not your weight has fluctuated a great deal over the years or if it has remained constant.
Why do life insurance companies treat people so differently?
The purpose of life insurance underwriting is to determine how risky it is to issue life insurance to a person.
Being overweight increase your risk of contracting many diseases so this increases the risk the life insurance business would have to pay out the death benefit.
The US Centers for Disease control and prevention report that being overweight increases your risk for:
- Type 2 Diabetes
- Sleep apnea and respiratory problems
- Liver disease
- Increased in blood pressure
- Heart disease
- Heart attacks
With all this in mind, a life insurance company has to increase the rates of life insurance for overweight people to make sure they are not at risk financially.
Other Factors that the Underwriters Consider
In addition to weight, life insurance underwriters consider other criteria as well when examining your request for coverage.
These include your gender, age, status of marriage, if you are a smoker, if you drink alcohol, income and occupation (if applicable), health history, family’s health records, and habits.
Smoking habits are a big factor because finding affordable life insurance for smokers who are in pristine health is already more expensive. So if you are overweight smoking is going to be a big strike against you.
There is also a very good chance that you will be required to undergo a medical test as part of the underwriting process. What this process entails is meeting with a professional paramedical individual who will be taking readings such as your blood pressure and heart rate. They will also discuss in more detail your health condition, health history, and family health.
In addition, you will also need to offer a urine and blood sample. These will be examined for particular types of health conditions that may be deemed risky to the life insurance firm in terms of posing a potential claim.
Once all of the information about you has been received by the underwriters, they will be equipped to give a more educated judgment about your coverage.
Upon making a decision, the underwriters will be ready to place your policy into a certain classification. This will also determine the premium that you will pay.
Does it matter if I am obese instead of overweight?
Yes, it matters dramatically. People who are overweight can get generally good rates on life insurance (not the best but good).
On the other hand, life insurance for obese people can be dramatically more expensive or they may not have the ability to get life insurance at all (depending on how obese a person actually is).
Obese life insurance will be significantly higher so getting out of this classification will be key to getting the best rates.
We might not be able to get you a good rate on a standard policy of you are obese. If this were the case for you we would need to turn to a no physical life insurance policy.
These policies do not expect a medical exam but do want you to complete a short health questionnaire. Depending on your specific case this may help you to get a lower monthly rate.
What are the best ways to get lower rates on life insurance?
Logically the best thing to do is lose weight. People with better weight for their height will get the top prices on life support. Get your other health stats in order. Your rates will get worse if you are overweight or obese and also have high blood pressure. Any other health condition should be as good as you can get it before purchasing an overweight life insurance plan. Finally, you will want to do is do business with an agent who has knowledge of which carriers are most forgiving of being overweight.
At InsureNow365, we work alongside people that are overweight looking to get life insurance all the time. This allows us great knowledge of the life insurance market and what are the greatest life insurance groups for people that have weight problems. By going with the right company and the right policy you can save substantially over similar coverage from the wrong insurance company. We have a passion for helping people in higher risk categories get the best rates. Whether that is someone looking for bipolar life insurance or is simply overweight. We want to see you obtain the best rates imaginable.
Can I get lower rates if I lose weight and already have life insurance?
YES! Instead of heading out and buying new clothes when you lose weight you should call your life insurance company. Many of them will lower your premiums once they verify that you have lost the weight. The other option is to get a completely new policy. If you drop enough pounds you can even get yourself out of the obese life insurance or overweight life insurance categories.
Do Weight Loss Surgeries Affect Your Life Insurance Rates
The life insurance company will want to look into your current health and if you have maintained your new weight since your weight loss surgery. Find out more about how different types of weight loss surgeries will differently affect your life insurance rates:
- Gastric Bypass Surgery
- Gastroplasty (Stomach Stapling)
- Gastric Banding Surgery
- Sleeve Gastrectomy Surgery
Where to Find Life Insurance
If you are seeking life insurance and you are overweight, the best thing you can do is work with an organization that has admittance to multiple insurance companies. That way, you will have the ability to examine different policies’ advantages, as well as different premium rates in order to determine which plan will truly work the best for you.
When you’re ready to purchase an insurance policy, we are here to help. We know the companies that have a center on higher risk applicants. Therefore, we can lead you in the best area up front, saving you both time and difficulty during the request process.
We can also help you in comparing the plans and policy premiums from the various carriers – all from the comfort of your home – without ever having to meet in person with a life insurance agent. And, you can get all the necessary info that you desire within seconds. Operating with one of our agents can spare you both money and time on your insurance policy.
In order to get the ball rolling, all you have to complete is our form on our page. If you have some issues along the road about how to compare plans, how to acquire premium quotes, or just about life insurance overall, we have specialists on staff who are available to serve you. Please feel the freedom to reach us directly at 888-229-7522 and we will help you get all the answers that you need to confidently move forward in purchasing the coverage that you need to defend the ones you love.
Anything could happen tomorrow – you don’t know what, which suggests that you should not wait any longer to get the life insurance that your family deserves. If you hold any questions at all about receiving life insurance, please contact us now. We are an experienced group of independent insurance agents. It’s our purpose to assure that you’re getting the top life insurance coverage possible.