Whether you are applying for term life insurance or permanent life insurance, being overweight or obese can pose an issue when it comes to life insurance. Being overweight is considered a health risk by insurance companies, but you just need to shop for the best life insurance for overweight or obese people.
69% of adults 20 years old and older in the U.S are either overweight or obese. Approximately 127 million are overweight, and 69 million are obese. Insurance companies have been increasing the rates for life insurance because of this increased risk.
Finding an insurance carrier for overweight people can be tricky, but you can get life insurance even if you’re denied life insurance due to weight. Your best chance of success is to work with a company that has access to many insurance providers. This will enable them to compare different policies and premium rates to determine which plan is best for you.
LIFE INSURANCE FOR OVERWEIGHT OR OBESE – DOES MY WEIGHT MATTER?
Life insurance companies use underwriters to determine how risky it is to issue a life insurance policy to you. The more you weigh, the higher you can expect the rates to be. Being overweight increases your risk of having other medical problems which also increases the risk that the insurers would have to pay out the death benefit.
Being overweight increases your risk for:
- Heart disease
- Heart attacks
- Type 2 diabetes
- Liver disease
- Respiratory problems
- Kidney disease
- Pregnancy problems
If you have any significant health complications because of your weight, your life insurance premium may increase.
LIFE INSURANCE FOR OVERWEIGHT OR OBESE LIFE INSURANCE ELIGIBILITY
Your weight is considered when you apply for life insurance. While many overweight people may be healthy in all other aspects, the added weight can have an adverse effect on life expectancy. This is why underwriters consider your being obese or overweight when reviewing your application for coverage.
The underwriters will also look on your body’s build and body mass index. This can help them determine if your weight is proportional to your height, or if you are more on the obese side. Life insurance high BMI or when you are overweight or obese expect your premiums to be higher.
The cost of life insurance increases the more you weigh.
An overweight issue is complicated because most people who are overweight also have related health problems such as hypertension, high cholesterol, and diabetes.
WHAT WILL THE UNDERWRITER ASK ME WHEN I APPLY?
Here are some of the questions the underwriter will ask you when you apply:
- How old are you?
- What are your height and weight?
- Has your weight changed considerably for unexplained reasons?
- Do you smoke?
- Do you have any other health-related problems?
- Has anyone in your family died from a genetic disease? What aged did they die?
Weight seems to be a very sensitive issue, but you need to be honest about your weight. Do not be tempted to under-report on your life insurance application because any dishonesty on your application may lead to the insurance company denying a death claim.
DOES BEING OBESE INSTEAD OF OVERWEIGHT MATTER?
Yes, it matters much. If you are overweight, you can generally get good life insurance ratings. But if you exceed the life insurance weight limits or when you’re obese life insurance can be more expensive.
Your application may even be declined depending on the severity of obesity. Obese life insurance has significantly higher premiums; that’s why you need to get out of this classification to get the best rates.
If you are obese, we may not be able to get you a reasonable rate on a fully underwritten standard rated policy.
You may need to turn to a no physical life insurance policy. These policies do not require a medical examination; you will only need to answer a short health questionnaire.
Insurance companies use the body mass index to determine the level of risk. Statistics show that obesity poses an increased risk of dying prematurely.
Obese people tend to develop more health problems compared with those who are slightly overweight. Excessive weight is currently linked to 400,000 deaths annually in the U.S according to the Journal of the American Medical Association.
WHAT ARE THE BEST WAYS TO GET LOWER RATES ON LIFE INSURANCE?
The best thing to do is to lose weight (we understand this is easier said than done).
Consult a doctor to get your health in order. You will get a poor rating if you are overweight or obese and also have other health issues.
People with the right weight for their height get the best life insurance rates.
Purchase the best life insurance policy you qualify for right now, and you can often lower rates after you lose weight in the future.
Many insurers lower the premiums once they verify that you have lost weight. If you lose enough weight, you can get yourself out of the overweight or obese life insurance categories.
At Life Wealth Win, we work with people who are overweight looking to get life insurance all the time. This enables us to have more knowledge of the life insurance market. We know the best life insurance for overweight applicants. By choosing us, you can have substantial savings. We can help you get the best rates.
Here are some tips for getting the best life insurance for overweight or obese:
- Take your medical exam in the morning while you are in a fasted state.
- Avoid taking drastic weight loss programs. The insurance company will add 50% of the pounds you lost on your weight list.
- Advise your agent that you are adopting an exercise regimen and healthy eating plan to lose weight.
- Look for an insurance broker who can help you find the most favorable insurance company.
THE BEST LIFE INSURANCE FOR OVERWEIGHT OR OBESE PEOPLE
The first thing you must do is decide how much life insurance you need. A typical recommendation is to purchase at least ten times the amount of your annual income. The term of your life insurance policy should be the same as how long your financial needs will last.
You need to plan for the following to make a wise decision:
- Cost of living
- Future needs like college tuition
- Outstanding debt
- Family business cost
- Funeral expenses
- Number of years your loved ones will live independently
Things you need to consider in selecting the proper life insurance policy face amount is:
- The total amount of your debts
- The total amount of monthly expenses
- Your long-term financial goals
If your life insurance proceeds can address these three things, you found the best life insurance for you.
If you are searching for the best life insurance for overweight or obese, the best thing you can do is work with a company that has access to many insurance providers. This will enable them to compare different policies and premium rates to determine which plan is best for you.
At Life Wealth Win, we work with top-rated life insurance carriers in the market today. We know which companies are lenient on people who are overweight or obese. We can guide you to save time and frustration in the application process.
Click on the QUICK QUOTE FORM below for instant life insurance pricing. Call us at (888) 435-4342 if you have other health issues or questions.