Being overweight or obese can make your life insurance premiums more expensive. That should come as no surprise, since being overweight puts you at risk of developing a wide range of health issues.
In this guide, we'll cover everything there is to know about getting life insurance for overweight people. We'll also answer some of the most frequently asked questions on the topic.
Life insurance is designed to pay out a death benefit to your loved ones if you pass away during the coverage period. So, insurers carefully assess your risk of dying while you're covered by their policy. People with high morbidity rates get charged more expensive premiums because they expose the insurance company to a higher level of risk.
Being overweight can cause you to pay $14 more than healthy individuals per year. Meanwhile, being obese can drive up the cost of your policy by $111.
During a process called underwriting, insurers classify applicants into various risk classes. They'll usually charge higher life insurance rates to people they put in a poor health class.
Here are some of the usual categories available:
Keep in mind that not all life insurance companies will put you in the same category depending on your height-to-weight ratio. If you get put in an unfavorable risk class by one insurer, you can try applying for a policy from a different company and see if they put you in a better category.
Athletes who have a high BMI but a low body-fat percentage may still qualify for the best life insurance ratings. Some life insurance companies also make exceptions for people with a high chest-to-waist ratio even if they are overweight.
If you have a specific reason why you don't fall into the ideal range, notify the company when you apply for life insurance. They'll take this into account and confirm if you qualify for preferred ratings. Insurers also put your age into account, so you may still get a high rating if you're young even if you're a little overweight.
Having a high BMI put overweight people at risk of developing the following health conditions:
Since policies tend to last for decades or more, life insurance underwriters need to look at diseases you're prone to developing later in life. That's why they'll put you in a high-risk category if you have a particularly high BMI.
According to the Center for Disease Control and Prevention, 42.4% of American adults were considered obese in 2017-2018. This is a serious condition and it's more common than you might think – but how do life insurance companies classify people as overweight?
Insurers typically consider you overweight depending on your body-mass index (BMI). This is calculated by dividing your weight (in kilograms) by the square of height in meters.
Here are the body-mass index categories, plus their corresponding risk assessments:
Classification | BMI | Risk Category |
Underweight | 18.0 | Usually increases with decreasing weight |
Normal Weight | 18.5 to 24.9 | Very low |
Overweight | 25.0 to 29.9 | Normal to increased |
Obese Class I | 30.0 to 34.9 | Elevated |
Obese Class II | 35.0 to 39.9 | Elevated |
Obese Class III | >40.0 | Very high risk |
Note that the ideal height-to-weight ratio varies depending on the insurance company. So, it's best to get life insurance quotes from various insurers to find the best rates.
Aside from your BMI, some life insurance companies have maximum weight limits per risk category. They usually follow a weight chart to determine if you fall under an ideal height and weight range.
Life insurance companies typically ask applicants to take a medical exam as part of their life insurance application. During this exam, a nurse or an attending physician will check the applicants' height and weight.
Alternatively, some applicants only need to answer a questionnaire about their overall state of health. Whether or not applicants need to take a medical exam will depend on the type of life insurance they're applying for.
Here are some of the usual questions:
Once the insurer knows your height and weight, they can compute your BMI and begin checking if your build falls within the acceptable range.
There are several ways to ensure you get the best life insurance rates. Here are some tips you can follow when you apply for life insurance coverage:
People who are borderline overweight or obese should consider briefly fasting before their medical exam. This ensures that they're not carrying any extra pounds when they step on the weighing scale.
If you managed to lose a significant amount of weight, you'll need to maintain it for the next 12 months before the life insurance company will take it into consideration. They'll want to know that this is a lasting weight change and not something you did to get affordable premiums.
Note that some companies can give you "half-credit" based on recent weight loss. For example, if you weighed 200 pounds a few months ago but now weigh 160 pounds, they may consider your weight as 180 pounds instead.
To get an affordable policy, it's best to seek help from an independent agency. They can help you get life insurance quotes from various companies so you can easily find the one that offers you the best insurance rates. They may even help you find a company that specializes in offering policies to obese people.
If you have an existing policy but have lost significant weight since you applied, you may ask your insurer for a reconsideration. Note that this process may involve retaking the medical exam.
If your exam shows that you now fall within an acceptable weight category, then your insurance company may consider charging you cheaper premiums in the future.
If you plan to lose weight in the next year, you can opt to get an annual renewable term life insurance plan in the meantime. This policy will only be valid for one year.
After it expires, you can apply for another policy and get better rates. This is usually easier than asking your insurer to recompute premiums for a whole life insurance plan.
Having a less-than-ideal BMI can make getting a life insurance policy a little more complicated. In this section, we'll answer some of the most frequently asked questions about insurance for overweight people.
Yes. In general, getting a fully underwritten life insurance policy (with a paramedical exam) is still more affordable than buying a simplified-issue or guaranteed-issue policy (with no exam).
Note that some life insurance companies may specifically ask you to take a paramedical exam for a simplified-issue policy. This can happen when you put in a very high number when answering questions about your height and weight.
It's unlikely that you'll get denied life insurance due to your weight alone. Usually, only people who have chronic health conditions related to their weight can be denied a life insurance policy.
However, if you have a BMI of over 46, you might get denied life insurance coverage. Ask your life insurance agent for advice on getting a policy if this is your situation.
Lying to a life insurer can cause your policy to be canceled. Your loved ones may also be denied the death benefit if you pass away.
There are several ways that insurers use to verify the information you provide them. If you're applying for a fully underwritten life insurance policy, then your insurer will still find out about your real height/weight during the paramedical exam.
However, individuals who are applying for simplified-issue or guaranteed-issue life insurance won't have to go through the same process. That doesn't mean that your life insurance company won't have any other means to check your height/weight, however. The life insurance company can check your physician records to confirm any information you've disclosed.
The bottom line is, you need to be honest with your life insurance company when disclosing information about your health and overall physical fitness.
If you lost weight from surgical methods, getting coverage might get a little more tricky. Having a recent major operation can cause your application to get postponed or denied altogether. You'll likely be asked to wait until you've fully recovered from your surgery before applying for a policy.
Some life insurance companies may still put you in a good risk category provided that your condition is manageable. A lot of overweight people are being treated for high blood pressure or high cholesterol, but get affordable coverage.
If you have a more chronic illness like diabetes, you should take a step further. Try to look for an independent agent who specializes in helping people with your condition. You should also be prepared to apply for multiple companies just to make sure you get the best rates.
If you fail to qualify for a traditional life insurance policy, you might still find alternatives. Here are some of your options:
While these types of insurance won't give you the same level of protection as traditional policies, it's still better to have them. The proceeds from your life insurance policy can still help your loved ones cover your funeral expenses and pay off your outstanding debts.
Being overweight doesn't have to stop you from getting an affordable policy. Insurance companies differ in how much they charge people who are considered to be overweight and some of them are more lenient than others. So, as long as you shop around and work with a reliable agent, you'll be able to find the best rates.
If you need more information regarding life insurance for overweight people, get in touch with Wesley Insurance, LLC. We'll help you get quotes from the best life insurance companies so you can compare rates and get affordable coverage.