How Much Will Being Overweight Cost You in Life Insurance?

If you are looking into life insurance plans, you might be asked to pay more than you’d expect on your premiums due to unforeseen risk factors. Most people know that having a terminal illness, smoking, and chronic drinking can raise your life insurance premiums, but did you know that your weight might also carry negative consequences for your wallet?

Depending on how much extra weight you carry, these pounds could add a significant cost to the price of a life insurance policy. With obesity becoming more and more the norm in the United States, many people forget that being overweight can threaten to reduce your lifespan by increasing your risk of debilitating health problems such as heart disease and diabetes. It is because of these health problems that healthcare premiums are increased for the overweight and obese.

The way life insurance companies measure your weight risk is through comparing your weight to your height and build, an accepted form of figuring out your body mass index. Body mass index calculators can help you determine what life insurance underwriters consider obese by telling you the optimum weight and obesity categories for each gender and height before you start shopping for insurance. If you are overweight with average health, you will likely pay an extra $15 a month in life insurance over a 10 year term. If you have poor health and are overweight, expect to pay more than $40 a month. These costs represent a national average, so you may be able to find cheaper or costlier prices depending on your desired health coverage. People might even be turned down for life insurance because of their weight. Usually, people who have more than twice their recommended weight will be at a higher risk of having their application for life insurance denied.

Once you realize how much weight is measured as a negative risk factor, working out will make you feel like you are saving money. For a good motivation to lose weight, you might consider looking into life insurance plans more carefully.

Before you are issued a life insurance policy, your insurers will want you to complete a medical exam. This will consist of writing down your height, weight, medical history, and lifestyle habits. It is a good idea to get into an exercise habit a few months before the exam so that you can claim exercise is a part of your lifestyle, therefore reducing your premiums. Keep in mind that weight is just one factor in the medical exam. Smoking, excessive alcohol consumption, and poor diet will also be taken into consideration.

If losing weight before you buy life insurance is not a viable option, you may want to consider researching ahead of time to see which insurance providers are most lenient when it comes to extra weight will also help you save money.

Looking for life insurance can be a wakeup call for many that their weight might be the cause of health problems later in life. However, most overweight and even obese people can still get fairly reasonable life insurance. If you plan ahead and shop around, you may be able to get lower life insurance premiums.

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