Term Life Insurance Articles
How Weight Plays A Role In Life Insurance Premiums And Costs
2010-11-14
Weight is one of the key factors affecting life insurance premiums. The equation is simple: The more you weigh, the higher your life insurance costs will be. Understanding how and why weight is a factor can help you avoid paying more than you need to for your life insurance premiums.
When deciding who to offer coverage to and how to calculate life insurance premiums, insurance companies look at a number of factors that tell them how risky of an investment you will be. One of these factors is family history of diseases and conditions. But perhaps the most important factor considered is personal health. This includes pre-existing conditions, tobacco use, weight and other factors.
Obesity is an oft-discussed epidemic in our country, and the fact that the number of adults who are morbidly obese is increasing means that the cost of life insurance is also going up. Being slightly overweight will usually not affect your life insurance costs. But if you are obese, you may have trouble getting cost-effective life insurance. Because obesity causes so many other potentially deadly health problems, insurance carriers consider someone who is obese to be a risky investment. In order to protect themselves from such an investment, insurance companies charge more for people with risky personal and family histories. This includes those who are obese.
Life insurance companies determine higher costs due to weight based on the body mass index (BMI) scale. There are different ranges that are considered healthy, overweight and underweight, and different premiums levels that correspond to each.
There are a few things you can do if you're facing higher life premiums due to weight. First and perhaps most obvious, you can work to lose weight and reduce your costs. However, it should also be noted that life insurance premiums are not written in stone, and there is some shopping around that you can do. While you work to reduce your BMI, you can shop around for the best life insurance rates. Some life insurance companies will even offer discounts to those who show evidence of even some weight loss, or a conscious effort to lose weight.
There are several factors that affect life insurance premiums. Weight is just one of the many things that contribute to life insurance premiums and costs, but it is one that can be addressed and changed. Because insurance companies consider those with weight to lose a risk, and because ostensibly their life-threatening condition will cost the insurance company more money, obesity is becoming one of the most prominent factors contributing to soaring insurance costs. Knowing your insurance company's policy on obesity can help ensure you avoid increased costs due to weight.
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Weight is one of the key factors affecting life insurance premiums. The equation is simple: The more you weigh, the higher your life insurance costs will be. Understanding how and why weight is a factor can help you avoid paying more than you need to for your life insurance premiums.
When deciding who to offer coverage to and how to calculate life insurance premiums, insurance companies look at a number of factors that tell them how risky of an investment you will be. One of these factors is family history of diseases and conditions. But perhaps the most important factor considered is personal health. This includes pre-existing conditions, tobacco use, weight and other factors.
Obesity is an oft-discussed epidemic in our country, and the fact that the number of adults who are morbidly obese is increasing means that the cost of life insurance is also going up. Being slightly overweight will usually not affect your life insurance costs. But if you are obese, you may have trouble getting cost-effective life insurance. Because obesity causes so many other potentially deadly health problems, insurance carriers consider someone who is obese to be a risky investment. In order to protect themselves from such an investment, insurance companies charge more for people with risky personal and family histories. This includes those who are obese.
Life insurance companies determine higher costs due to weight based on the body mass index (BMI) scale. There are different ranges that are considered healthy, overweight and underweight, and different premiums levels that correspond to each.
There are a few things you can do if you're facing higher life premiums due to weight. First and perhaps most obvious, you can work to lose weight and reduce your costs. However, it should also be noted that life insurance premiums are not written in stone, and there is some shopping around that you can do. While you work to reduce your BMI, you can shop around for the best life insurance rates. Some life insurance companies will even offer discounts to those who show evidence of even some weight loss, or a conscious effort to lose weight.
There are several factors that affect life insurance premiums. Weight is just one of the many things that contribute to life insurance premiums and costs, but it is one that can be addressed and changed. Because insurance companies consider those with weight to lose a risk, and because ostensibly their life-threatening condition will cost the insurance company more money, obesity is becoming one of the most prominent factors contributing to soaring insurance costs. Knowing your insurance company's policy on obesity can help ensure you avoid increased costs due to weight.
