Getting life insurance shouldn’t be too hard. You find an agent, get an interview, undergo a series of tests, get a quote, and wait for approval. But why does it vary for overweight people?
Being overweight has put a strain on drawbacks and curbs among individuals. Unable to fit into nice clothes, only climb a couple of flights of stairs, run without getting out of breath, and walk accompanied by probing eyes are only a few things that raise doubts and questions to themselves. Adding to the bafflement, how would an overweight person respond when BMI and life insurance are correlated?
What Is Life Insurance?
Life insurance is a legally binding contract between an insurance company and a policy owner. The beneficiaries will get a financial benefit when the policy owner acquires terminal illness, permanent disability, or death. It eases the monetary burden brought upon by an unanticipated melancholy.
Premium plans vary company to company, and coverages may be death cover, terminal illness, or total and permanent disability. A broader field to cover means an increased cost in premiums.
What Is Body Mass Index (BMI)?
BMI is an individual’s height and weight ratio. Weight in kilograms is divided by the square of height in meters. It’s used as an indicator in determining the presence of body fat and potential health conditions that may prevail in the future.
Overweight is defined as the presence of abnormal or significant fat accumulation that may impede health. You’re classified as overweight when your BMI falls between 25.0 and 29.9.
According to the World Health Organization, more than 1.9 billion adults aged 18 years and older were overweight in 2016. Of these, over 650 million were obese. Given the figures, consequences follow as the rate continues to increase.
How BMI Affects Life Insurance
Being overweight doesn’t necessarily mean you’re ineligible to purchase life insurance. Most often, bodybuilders and prominent built individuals don’t encounter any issues in getting life insurance. Medical examinations are vital elements in determining your qualifications and the type of premium plan suitable for you.
Typically, BMI indicates how likely an overweight person is to pass away in the policy. The cash payout is the branding and face value of every insurance company. The greater the benefits, the more clients are enticed to avail of their life insurance offers.
Rating Categories And Underwritten Plans
Each company provides its rating category to which premium plan you belong. Either you’re preferred plus, preferred, standard plus, standard, or table ratings. Overweight people with no comorbidities usually fall in the standard rating. On the other hand, table ratings will surely guarantee high premium costs.
A fully underwritten plan requires a person to undergo an intensive interview and medical examination. A simplified issue plan has no such requirements because they’re made for a speedy agreement; they also might cost higher than the typical one.
Choosing Life Insurance For Overweight People
In today’s modern age, medical innovation and digital health are highly sought by the populace. With a few taps on the screen and a click away, facts and helpful insights are now within your reach. Here are the three tips for choosing life insurance for overweight people:
- Find A Trustworthy Company
Finding a trustworthy company is the key. You may look online or ask for recommendations. Nowadays, several companies are bringing down the barriers and offering people with BMI problems affordable and low-rate premiums.
Life insurance companies have their unique policies; premium plan costs and coverages vary. All inclusions and exclusions must be transparent. Looking for multiple options may also be a good idea. Make sure to get all the quotas and policy guides to help you decide further.
- Honesty Is The Best Policy
In a fully underwritten plan, there’s an investigation checklist that includes:
- Familial diseases
- Health and lifestyle
- Past medical procedures
- Social and occupational aspects
- Mental history/current cognitive state
- Other medical issues
- Medical examination provided by the insurance provider
One should be very honest upon answering the questions given. The interview and medical exams will render the eligibility for approval and the premium price to be computed.
To ensure legality, insurance companies have accredited hospitals and clinics where examinations are conducted. In fraud cases such as illegal paperwork and tampered results, serious offenses are implemented, and the entire policy will be revoked, no matter how long you’ve paid for it.
- Health Is Wealth
Figures do speak in the worldwide prevalence of overweight and obesity. While discrimination shall not be tolerated anytime and anywhere, an individual must be knowledgeable of the effects caused by increased BMI.
Researches have shown that most comorbidities and fatal diseases in the populace are related to overweight and obesity. The following conditions may be associated with overweight:
- Heart diseases
- Kidney diseases
- Cerebrovascular disease
- Diabetes mellitus
- Liver disease
Nowadays, there are rising cases of juvenile hypertension. Individuals 18 years old and below show raised blood pressure as well as abnormal cholesterol and blood sugar levels. These mild and acute conditions will continue to put stress and strain throughout adulthood.
Like a domino effect, they’ll affect the heart, liver, kidneys, and other organs. Systemic functions will follow later on, resulting in lesser life expectancy. Moreover, pre-existing conditions secondary to elevated BMI scores may result in higher premium rates.
Ensuring one’s health is more than just the model-like bodies and chiseled jawlines. Whether consulting for life insurance or not, overall health status should be one’s top priority. By consulting a doctor or any expert through digital health platforms and applying medical innovations, one can beat overweight and obesity.
The words BMI and life insurance are seldom heard in one sentence. People have vague knowledge about the correlation between both entities. Weight doesn’t matter, they say. But it has a significant impact on a person’s average life expectancy. Would you want to cut it short? Getting life insurance isn’t just for oneself but primarily for the surviving family in case of terminal illness, permanent disability, or death. Overall, health status must always be the top priority. When life insurance matures, you and your family will surely enjoy the fruits of your labor.