Life insurers increase the rates on their policies for those who are over their preferred weight class. Your weight class is relative to your body frame and height. You can bring down your life insurance premiums by shedding pounds and getting into better shape.
Health Hazards of Being Overweight
Even if you are comparatively healthy, being overweight still carries inherent risks. Your excess weight can cause hypertension, diabetes and heart problems. Folks who tussle with obesity are considered at risk for developing various sorts of cancers, particularly those that are related to hormones (like breast cancer) and the guts (like colon and prostate trouble).
Each may result in life-threatening situations. Apart from the fact that extra weight can shorten your life, it may also be the cause of other problems. For instance, individuals who are very large frequently develop respiratory issues, skin conditions and even infertility. If you carry a lot of excess weight, your health is exposed to various chronic hazards that can affect your chances of finding cheap life insurance coverage.
How Weight Impacts Your Rates
Obviously, weight isn’t the sole factor used to figure out your fitness and possibility of contracting illnesses. Height and body build play a large role as well. One without the other does not give sufficient information to life insurance companies to know whether you are a good business risk. For example, an individual who is 5’9″ that lounges on the couch all day while munching potato chips may reach 250 pounds. In contrast, a 6’2″ weightlifter who goes to the gym every day may also weigh 250 pounds.
One is likely to be healthier than the other. Your weight alone cannot show which.
Your height and complexity of your body are major factors in the way insurance companies calculate your insurance rates. In many cases people who are overweight are far more likely to develop illnesses and other health problems. As a result, life insurers will increase the rates on their policies for people that are over their preferred weight class. Your weight class is based on your body’s frame and height. It’s used to be considered the right weight for an individual inside the group with the lowest mortality rate (and therefore, the least significant risk for the insurer).
Each life insurance company will use different information to work out the rates they charge. The weight classes in which they categorize folk will rely principally on the information and actuarial processes they use to ascertain rates of mortality.
Obesity And Your Life Insurance
More people deal with obesity today than ever before. While being obese can cause major medical issues and higher life insurance premiums, obesity can basically hinder you from being insured. The majority of life insurance companies consider obesity a major risk and will refuse to supply a policy. Or, they may furnish rates that are so impractical, just to prevent some potential clients from applying.
Lowering Your Rates By Losing Pounds
In the final analysis, you may bring down your life insurance premiums by losing weight and getting into shape. Life insurance firms reward individuals who choose to live a healthy and active lifestyle. In truth, many insurers will be offering money discounts or deductions on premiums if you enter a weight range that they consider perfect for your height and build.
Contact your insurance company and ask them for a weight and height chart.
By losing some weight, you are able to save money on premiums and live healthier at the same time.
Kade Phillips is an active contributor of insurance tips and articles, and is a contributing writer for some insurance comparison websites run by Kanetix. If you wish to get life insurance quotes, visit the Kanetix website today! If you live in Canada, please visit Kanetix Canada to compare various life insurance rates.