If you are reading this article, probably you are looking for information that will help in understanding that why it is so difficult to get life insurance for overweight people. The insurance companies consider height and weight indexes to settle on the premium amount that will be charged from the customers and also to find out the possibilities to offer life insurance cover to people. If you are overweight then it may be slightly difficult for you to get life insurance of your choice as there are conditions that will not be sufficed in your medical certificates.
Why is it Difficult to Get Life Insurance for Overweight People?
It is considered that every medical condition has a larger impact on the life plan for obese people. Obesity in itself is an unhealthy condition that can invite a number of diseases especially as one grows up with the age. Some of them are- diabetes, heart attack, kidney problems, cardiovascular ailments, sleep apnea, joints pain etc. In some of the worst cases, these conditions may cause severe shortening of life span of an individual who has a condition of obesity. This is one reason that the insurance companies check the body-mass index (BMI) of its clients primarily. People with a BMI count of more than 30 are considered to be unhealthy and susceptible to other life threatening diseases over the period of time. The insurance companies do not want to take such risks that is why they have made difficult norms for the overweight people.
Why is it Necessary for Overweight People to Take Life Insurance?
Life insurance for overweight people is as much important as the life insurance for any other common person. However some researches stress that for overweight people life insurance is much more valuable than anyone else! As they are on the higher risk of some serious ailments it is all the more important for them to provide a financial cover to their dependents and families.
Life insurance policies play a very effective role in safeguarding the lives of dependents of the policy holders in case of their sudden demise or severe illness. Life insurance policies can provide up to 75% replacement cover of your monthly salary in case of illness or serious injuries. The benefits of these policies can also be used to cover day to day living expenses or to pay off the debts and bills. One can also avail the policy benefits for inculcating the personal hospital expenses and medical bills if required.
Similarly in case of the sudden death of the policy holder, the dependents of the person get remuneration from the insurance company.
Know Your BMI to Assess Whether You are Overweight or NOT:
It has to be understood that more is your weight the more is the price of your insurance! Your BMI is a measure of deciding whether you fit into the “ideal weight” category or not. This BMI index is irrespective of only height or only weight. For example, 30 years old, 6ft tall man weighing 170 lbs will get a normal life insurance cover while the same man if he turns 280 lbs in 5 years will have to pay extra amount for purchasing the insurance policy. In order to know your position on the scale of body mass index, you need to understand the mathematical calculations. The easiest way to avoid the hassle of maths is to download any “BMI calculator” app in your phone and enter the details as required.
If your BMI lies in between 18.5 to 25, you are categorized as a normal person and do not need to worry at all about the insurance policy prices.
If your BMI is in between 25 to 30, your category changes to overweight. But this is a moderately overweight category and the insurance companies generally tend to give a lease to the customers having BMI up to 30.
If you have BMI more than 30, then you really need to think about it. BMI >30 is an indication of poor health and overweight condition. Such people are medically considered more at the risk of ailments that can be life span shortening. Therefore, in case of life insurance for overweight people, the companies raise the price of the premium.
What can be done?
The price of life insurance for overweight people is significantly high but there are measures that can be taken to lower the cost of your insurance premium:
Try to reduce your weight. Not only it will make you healthier but also help you in reducing your insurance policy expenses. If you are in a BMI category of >30, then you should try to at least come down to the category of <30.
Take short term insurance policy if you need one immediately. So that later on you can either work on your finances or your weight.
Do an advanced research for the insurance companies that provide lower rates.
Finally Compare Rates
This is the most unavoidable part of shopping any life insurance plan. We can help you to get up to 75% discount, get quotes from us.