Term Life Insurance Articles
How Life Insurance Coverage Is Based On Health And Weight Factors
2010-11-24
If you have life insurance coverage, you may wonder how rates are calculated. Insurance carriers do not arbitrarily make up a figure and charge people what they want. There is a mathematical method in which they have determined the cost to charge for life insurance coverage for different people. There are many factors that make up the basis for statistical analysis. A person's health and weight, as well as family medical history, occupation, lifestyle, and hobbies all play an important role. However, the current health and weight of a person are the top contributing factors for deciding their mortality. Life insurance is all about being able to provide monetary coverage for someone in the event of a death. They need to be able to determine what a person's life expectancy will be to ensure that they have enough funds on hand to cover the policy value. They also will price premiums based on this life expectancy.
There is a definite link between life expectancy with regards to health and weight. Scientific studies are continuously being completed which show that persons who are obese have a shorter life span than someone who is of normal weight or overweight. The additional weight that one carriers can raise the chances of contracting illnesses such as diabetes, heart disease, cancer, and others which terminate life sooner. Even an additional twenty pounds of weight can increase the death rate by 15 percent for those persons in the 40 to 50 age category. An additional 40 pounds raises this rate to 45 percent.
Insurance companies use these figures to determine how much an individual will pay for life insurance coverage. They can use past statistical figures from death records to determine what ailments caused certain deaths and at what age they died. There are four weight categories for persons. They are normal, underweight, overweight, and obese. The more one weighs the higher the insurance cost and premiums will be. If this is added to a family related illness then the rates will go up even more.
Another method that is being used is a person's BMI number. This is the body mass index. This is stating that weight alone is not the only deciding factor in poor health. It matters most where the weight is actually distributed. If weight centers in the midsection, it is more harmful than if it is located in the arms, or lower body. One way that can help is to lose weight. It may be harder for some than others, but it can help to increase your life span and lower the rate that is charged by companies to provide you with life insurance coverage.
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If you have life insurance coverage, you may wonder how rates are calculated. Insurance carriers do not arbitrarily make up a figure and charge people what they want. There is a mathematical method in which they have determined the cost to charge for life insurance coverage for different people. There are many factors that make up the basis for statistical analysis. A person's health and weight, as well as family medical history, occupation, lifestyle, and hobbies all play an important role. However, the current health and weight of a person are the top contributing factors for deciding their mortality. Life insurance is all about being able to provide monetary coverage for someone in the event of a death. They need to be able to determine what a person's life expectancy will be to ensure that they have enough funds on hand to cover the policy value. They also will price premiums based on this life expectancy.
There is a definite link between life expectancy with regards to health and weight. Scientific studies are continuously being completed which show that persons who are obese have a shorter life span than someone who is of normal weight or overweight. The additional weight that one carriers can raise the chances of contracting illnesses such as diabetes, heart disease, cancer, and others which terminate life sooner. Even an additional twenty pounds of weight can increase the death rate by 15 percent for those persons in the 40 to 50 age category. An additional 40 pounds raises this rate to 45 percent.
Insurance companies use these figures to determine how much an individual will pay for life insurance coverage. They can use past statistical figures from death records to determine what ailments caused certain deaths and at what age they died. There are four weight categories for persons. They are normal, underweight, overweight, and obese. The more one weighs the higher the insurance cost and premiums will be. If this is added to a family related illness then the rates will go up even more.
Another method that is being used is a person's BMI number. This is the body mass index. This is stating that weight alone is not the only deciding factor in poor health. It matters most where the weight is actually distributed. If weight centers in the midsection, it is more harmful than if it is located in the arms, or lower body. One way that can help is to lose weight. It may be harder for some than others, but it can help to increase your life span and lower the rate that is charged by companies to provide you with life insurance coverage.
