Obese People: Getting Life Insurance, Is It Possible?

Life insurance is a tricky business, and it can be especially difficult to navigate if you are obese. While it is still possible to get life insurance if you are obese, it is likely to be more expensive and complicated. This is because insurance companies use height and weight ratios (known as Body Mass Index, or BMI) to determine premiums and coverage. Obese people are often considered high-risk applicants due to the potential for weight-related health issues such as heart disease, diabetes, and certain types of cancer. However, not all insurance companies use the same height and weight ratios, so it is important to shop around and find an insurer that suits your needs. There are also other options available, such as graded death benefit policies, guaranteed acceptance policies, and no-exam policies.

Obese people can get life insurance, but it's more expensive

Yes, obese people can get life insurance, but it will likely be more expensive. Life insurance companies use height and weight ratios (also known as Body Mass Index, or BMI) to determine the premiums they charge. This is because obesity is linked to several health complications, and having overweight or obesity can put you at higher risk of developing potentially life-shortening conditions, such as heart disease or diabetes.

Each insurer has its own underwriting process, which is how they assess an applicant's risk profile. Some insurers are more flexible about certain health conditions than others. If you are obese, you will likely be considered a “high-risk” applicant, which will make it more difficult to find affordable life insurance. However, every life insurance company uses different height and weight charts, so it is important to survey each major carrier to see who would offer the best rates based on your height and weight.

For example, a 6-foot-tall man weighing 295 pounds and a 5-foot-tall woman weighing 205 pounds may be considered a "standard" risk by one insurance carrier, while another carrier may consider them a "high-risk" application and offer them what is called a "table rating," which would cost them hundreds, if not thousands, of dollars more over the term of the life insurance.

If you are obese and have been turned down for life insurance, there are companies that specialize in dealing with insurance for people who are not in peak health. These companies may offer a "graded death benefit policy," which pays out depending on how long you live, with higher pay-outs the longer you live. However, these policies tend to be more expensive than standard life insurance policies.

If you are obese and seeking life insurance, it is important to be honest about your weight and to work with an independent agent who can shop your application to multiple different life insurance carriers. You should also be prepared for your medical exam by taking the exam first thing in the morning before you have eaten or drunk anything other than water, as your weight will be at its lowest at this time.

Insurers use height and weight ratios (BMI) to determine premiums

Insurers use height and weight ratios, otherwise known as Body Mass Index (BMI), to determine premiums. This is one of the first things a life insurance underwriter will consider. A high BMI can indicate a higher risk of developing potentially life-shortening conditions such as heart disease or diabetes. Therefore, a high BMI often results in higher premiums.

Each insurer has its own BMI scale, and not all insurers use the same height and weight ratios when determining their rate classes. This means that even if one insurance company considers an individual to be obese, another may not. For example, a 6-foot-tall man weighing 295 pounds and a 5-foot-tall woman weighing 205 pounds may be considered a "standard" risk by one insurer, while another insurer may consider them a "high-risk" application and offer a "table rating", resulting in significantly higher costs.

Some insurers also take into account other factors, such as age and sex, when determining premiums. Seniors carrying a little extra weight may be considered healthier and have a lower risk of mortality than their thinner counterparts, as a low BMI could be an indication of frailty rather than fitness. Additionally, males and females tend to have different body frames, with males generally having a larger frame and weighing more, so weight charts may vary between sexes. Some companies, such as Allstate, Mutual of Omaha, and Prudential, use a unisex weight chart, which can be more favorable for women.

It is important to note that being overweight or obese does not automatically disqualify an individual from obtaining life insurance. While it may result in higher premiums, there are insurers that cater specifically to high-risk applicants. These insurers may offer "graded death benefit policies", which pay out dependent on how long the insured lives, or suggest opting for a lower death benefit to make premiums more affordable. Additionally, individuals who are overweight or obese but do not have other health complications may still be able to obtain a normal rate, although they may not qualify for "preferred rates", which are reserved for those in good health.

Some insurers are more lenient than others when it comes to BMI

While BMI is a key factor in determining life insurance rates, not all insurers use the same height and weight (BMI) ratios when determining their rate classes. This means that even if you are considered obese by one life insurance company, you may not be considered obese by all of them, depending on their BMI scale.

For example, a 6-foot-tall man weighing 295 pounds and a 5-foot-tall woman weighing 205 pounds may be considered a "standard" risk by one insurer, while another insurer may consider them a "high-risk" application and offer a "table rating," which could cost them hundreds or even thousands of dollars more over the term of the life insurance policy.

Some insurers, such as Principal Life Insurance Company, use unisex build charts, which can be advantageous for heavier women as the range of acceptable height-to-weight ratios is higher for men. Other insurers, like MetLife, split their build chart into male and female categories for the best rate classes but switch to unisex categories for Standard and Table health classes.

Additionally, some insurers may make exceptions to their weight and BMI guidelines for athletes or fit individuals with a high chest-to-waist ratio. If there is a healthy reason for your BMI being outside the expected range, it is important to notify the company when applying, as they may confirm your eligibility for a Preferred rating.

Obese people can be denied preferred rates, which are reserved for those in good health

Life insurance companies use height and weight ratios, also known as Body Mass Index (BMI), to determine premiums and whether to offer coverage. A high BMI is one of the first things considered by a life insurance underwriter and can make it more difficult to get life insurance. However, not all life insurance companies use the same height and weight (BMI) ratios when determining their rate classes. For example, a 6-foot-tall man weighing 295 pounds and a 5-foot-tall woman weighing 205 pounds may be considered a "standard" risk by one carrier but a "high-risk" application by another.

Life insurance companies determine your rating category and the price you pay based on a build chart that's similar to a BMI calculation. The rating categories are typically Preferred Plus, Preferred, Standard Plus, and Standard, with Table Ratings for high-risk applicants. Obese people can be denied the preferred rates that are reserved for those in good health with no history of medical issues. For instance, if you are over the ideal weight for your height by more than a few pounds, you are unlikely to receive a Preferred Plus rating.

Each carrier uses its own weight guidelines with regard to BMI for life insurance rates, and some are more lenient than others. For example, a 6-foot man who weighs 195 pounds would be considered overweight according to a standard BMI calculation but would qualify for a Preferred Plus life insurance rating from MetLife. If he weighed 225 pounds, his BMI would be considered obese, but he would still qualify for better-than-Standard rates.

In general, the higher your body weight and BMI, the more your term life insurance is going to cost, regardless of the company. However, the cutoff point and other factors for each rating category are different between companies. For example, a 200-pound man who is considered overweight might get a Preferred rating from one company but a Standard rating from another.

Insurance companies may make exceptions to their weight and BMI guidelines for athletes or fit people with a high chest-to-waist ratio. The weight tables are only approximate guidelines, as companies don't want to exclude people who are very fit despite having a high BMI. If there's a healthy reason for your BMI being outside the expected range, notify the company when applying, so they can confirm whether you qualify for a Preferred rating.

Obese people with no health complications may be able to get a normal rate

While obesity can make it more difficult to obtain life insurance, obese people without health complications may be able to get a normal rate.

Life insurance companies use height and weight ratios, also known as Body Mass Index (BMI), to determine the premiums they charge and whether they will offer coverage at all. A high BMI can result in higher premiums because obesity is associated with an increased risk of developing potentially life-threatening conditions such as heart disease or diabetes.

However, obesity alone does not typically disqualify someone from obtaining life insurance. Unless an individual has severe weight-related health issues, such as limited mobility due to morbid obesity, they are unlikely to be rejected for coverage. If an obese person is an athlete or has a high BMI but a low body fat percentage, they may even be able to receive credits from an insurance company to qualify for the best life insurance ratings.

For example, a 6-foot-tall man weighing 295 pounds and a 5-foot-tall woman weighing 205 pounds may be considered a "standard" risk by some insurance carriers. These individuals would be viewed as completely normal and not obese. However, if they were to apply to a less forgiving insurance carrier, they might be considered "high-risk" and offered a "table rating," resulting in significantly higher costs.

Therefore, it is crucial for obese individuals to carefully choose the insurance company they apply to and work with an independent agent who can shop their application to multiple carriers. By finding the right insurer and being honest about their weight, obese individuals without health complications may be able to obtain life insurance at a normal rate.

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