Weighing Life Insurance: Do Scales Impact Policy Premiums?

Life insurance companies use a variety of factors to determine eligibility and risk, and weight is one of them. While being overweight does not automatically disqualify you from getting life insurance, it can affect your rate and the type of policy you qualify for. Insurers use height and weight to assess an applicant's body mass index (BMI) and determine their risk class. They then use their own build chart to decide how BMI will affect eligibility and rates. While BMI is a useful tool, it is not perfect, as it does not consider body composition. Other factors, such as health conditions, family history, and lifestyle habits, can also impact life insurance rates. It is important to be truthful about your weight on insurance applications, as misrepresenting it could result in application denial or claim denial in the future.

Height-to-weight ratio and its impact on life insurance rates

Life insurance companies use height and weight underwriting guidelines to help determine an individual's rate class. These guidelines vary among insurers, but they are important factors in calculating the cost of coverage. While weight alone is not the biggest driver of premium costs, it is often critical information for insurers as it can be a symptom of other diseases or increase the likelihood of developing serious health conditions.

The height-to-weight ratio helps insurers determine if an applicant qualifies as overweight or obese from a medical perspective. Insurers compare an applicant's body mass index (BMI), calculated using their height and weight, against their own "build chart" to determine eligibility and rates. A high BMI can indicate a higher risk of developing weight-related complications, such as diabetes, heart disease, or sleep apnea, which may lead to higher insurance rates.

The CDC categorizes BMI ranges as follows:

• Underweight: Below 18.5
• Healthy weight: 18.4–24.9
• Overweight: 25.0–29.9

While BMI is a useful tool, it has limitations and does not consider body composition. Athletes, for example, may have a high BMI due to muscularity rather than body fat. Life insurance companies may make exceptions for such cases, provided the rest of the applicant's medical records are satisfactory.

In addition to BMI, other factors influencing life insurance rates include weight-related conditions, lifestyle habits like smoking or drinking, and family medical history. Insurers assess these factors to determine an applicant's overall health and the likelihood of developing health issues, which can impact the cost of coverage.

While being overweight may affect life insurance rates, it does not automatically disqualify an individual from obtaining coverage. Each insurance company calculates risk differently, and as long as an applicant is otherwise healthy, they can often qualify for a policy with a relatively low rate. However, weight-related or other health complications may result in higher rates or the need for a guaranteed issue policy, which tends to be more expensive.

To obtain the best life insurance rates, individuals should focus on maintaining a healthy BMI, being honest on their application, and providing relevant health information. Losing weight before applying for life insurance may result in lower rates, but insurers consider sustained weight loss over crash dieting. Overall, insurers assess multiple factors, including height-to-weight ratio, to determine life insurance rates, and it is important to prioritize overall health and provide accurate information when applying for coverage.

BMI and its limitations

Body Mass Index (BMI) is a useful measure for determining a person's weight classification and is calculated using their height and weight. While it is a good gauge of a person's risk for certain diseases, it has some limitations.

BMI is not a direct measure of body fat and does not account for differences in body composition. For example, a senior who has lost muscle tone may have a lower BMI than a muscular athlete, despite both being healthy. It may also not accurately reflect the health of extremely muscular people, such as athletes and bodybuilders, as muscle weighs more than fat.

BMI also does not take into account age, sex, or ethnicity. A woman tends to have more body fat than a man with the same BMI, and an older person tends to have more body fat than a younger person with the same BMI. As such, BMI may not give the detail necessary to determine whether a person's weight is healthy.

BMI does not reflect the location or amount of body fat, which can impact health. For instance, people who have fat around their waist and surrounding abdominal organs may be at more risk of health problems than those with fat in other areas.

Despite these limitations, BMI is still a useful tool for assessing a person's weight and health risk. It is simple to calculate and does not require any specialised equipment.

How to get life insurance if you are overweight

Life insurance companies do consider weight when evaluating an applicant and offering a rate, but being overweight does not automatically disqualify you from getting life insurance. Here are some steps to get life insurance if you are overweight:

Understand the factors that determine your insurance rate

Weight is one of many factors that life insurers use to determine your eligibility and risk. Insurers often use height and weight to assess your body mass index (BMI) and then use their own "build chart" to determine how your BMI will affect your eligibility and rate. Other factors that may impact the cost of your life insurance include weight-related conditions, lifestyle habits such as drinking and smoking, and your family medical history.

Shop around for the best rate

Different insurers will calculate risk differently, so it's worth comparing rates from multiple companies. While some companies may consider overweight individuals to be more likely to suffer from weight-related health complications, others may be more lenient.

Consider a guaranteed issue policy

If you are struggling to qualify for a traditional life insurance policy, consider applying for a guaranteed issue policy. These policies do not require a medical exam and do not factor in your health, but they tend to be more expensive and offer lower death benefit amounts.

Improve your health before applying

If you are young and have recently lost a significant amount of weight, you may be able to get a lower rate by waiting six months or more to apply for life insurance. During this time, you can focus on improving your health by lowering your blood pressure and cholesterol through diet and exercise.

Be truthful on your application

It's important to be honest about your weight when applying for life insurance. If you are purchasing a policy that requires a medical exam, the insurance company will find out your weight anyway. Intentionally lying about your weight could result in your application being denied.

The application process for life insurance

Step 1: Connect with a Licensed Agent

Firstly, you will need to connect with a licensed agent, who will ask you some initial questions about your health to estimate your policy cost. It is recommended to work with an independent broker agent as they can help you compare quotes from different insurance companies.

Step 2: Fill Out the Application

The next step is to fill out the application form with the help of the agent. You will need to provide basic information about your personal and family health history, as well as details about your lifestyle, hobbies, and financial situation. Be sure to be honest about your health and weight on the application. Misrepresenting this information could lead to problems for your beneficiaries in the future.

Step 3: Complete a Medical Exam or Health Questionnaire

After submitting your application, you will usually be required to complete a medical exam or a health questionnaire. A standard in-person medical exam is common, but there may be no-exam options available depending on your profile. Your agent will be able to advise you on this.

Step 4: Wait for Application Review

The insurance company will then review your application, which can take around four to six weeks on average. If you have chosen a no-exam option, approval may be faster, sometimes within a week.

Step 5: Sign the Policy and Pay the First Premium

Finally, once your application is approved, you will need to sign the policy and pay your first premium to activate your coverage.

Additional Considerations:

It is important to note that weight is just one of the many factors that life insurance companies consider when determining your eligibility and rates. Other factors include your age, gender, medical history, family history, and lifestyle habits. While being overweight may impact your rates, it is unlikely to result in a denial of coverage on its own.

What to do if you are denied life insurance due to weight

While being overweight does not automatically disqualify you from getting life insurance, it might affect your rate and the type of policy you qualify for. If you are denied life insurance due to your weight, here are some steps you can take:

• Shop around and compare quotes from different insurers: Different life insurance companies have different weight guidelines and criteria for determining eligibility and rates. By comparing quotes from multiple insurers, you may find one that is more accommodating to your situation.
• Consider a guaranteed issue policy: If you are unable to qualify for traditional life insurance, you may want to look into a guaranteed issue policy. This type of policy does not require a medical exam and factors in your health status. However, these policies tend to be more expensive and offer lower death benefit amounts.
• Work with an independent agent: Partnering with an independent life insurance agent can be beneficial as they are not tied to a specific carrier and can help you find the best policy for your needs. They can shop your application around to various insurers, increasing your chances of finding coverage.
• Be mindful of your health complications: Obesity is often associated with health complications such as heart disease, stroke, and certain types of cancer. If you have any weight-related health issues, be sure to disclose them to the insurer. This information will be considered during the underwriting process, and managing these conditions may help improve your eligibility.
• Improve your overall health: In addition to weight-related conditions, insurers consider other factors such as blood pressure, cholesterol, lifestyle habits, and family medical history. By addressing these areas and improving your overall health, you may increase your chances of qualifying for life insurance.
• Consider alternative options: If you are unable to obtain traditional life insurance, explore alternative options such as no-exam life insurance, group life insurance through your employer, or accidental death and dismemberment insurance. These options may provide some level of coverage, even if you don't qualify for a standard policy.

Remember, weight is just one factor in the life insurance underwriting process. By being proactive, honest, and informed, you can increase your chances of obtaining life insurance coverage, even if you've been denied due to your weight.

Frequently asked questions