Life Insurance for Overweight & Obese People (Find Affordable Plan)

Having an overweight or obese body is no sin, however, it brings a lot of difficulties in life, especially when it comes to getting life insurance. But it is alright! You can still turn the tables later and get yourself fit, as many US citizens are trying their best to overcome this problem.

But, if you look at the darker side, you are at a higher risk of getting caught by several diseases. And this is why such conditions affect your overall insurance policy. But don’t worry because this article is to help you find an affordable plan for life insurance for overweight and obese people.

Overweight and Obesity Statistics

Did you know that according to NIH (2014), around 2 out of 3 adults in the US are obese or overweight? So this means that you are not alone. There are even the latest statistics updates, which you will see here, but before you jump to that area, it is better to understand the meanings of these terms.

Overweight vs Obese – What’s the Difference?

overweight vs obeseDespite the terms obese and overweight are used interchangeably, there is a slight difference between both of them that comes because of the Body Mass Index or BMI.

Generally, you are considered as an overweight person if your BMI is between 25 and 29.9, whereas, BMI results above 30 will make you fall in the obese section. Nevertheless, the two types are redeemed ‘alike’ in most of the insurance companies.

So now you know the difference, let’s talk about the statistics:

According to the Centers of Disease Control and Prevention – CDC, obesity is a costly and serious disease that is common in the US. For instance, as per the 2017-2018 statistics:

  • 4% of Americans are found to be obese and overweight
  • Most of them have been suffering from diseases like type 2 diabetes, heart conditions, stroke, and certain cancer types
  • Obese and overweight people have higher medical cost as compared to normal-weight people

Impact of Weight on Life Insurance

Life insurance organizations look at your current weight to calculate the life insurance cost. So a person with normal weight or BMI will have to pay the minimum cost, while, an obese or overweight person will be paying higher prices.

Life Insurance Classification

4 health class

Life insurance firms, through examining your weight, classify you into a particular category. Normally, there are four main types, and you can fall into any one of them.

Here they are:

1. Preferred Plus

The preferred plus category is set for those who have excellent health conditions. Also, normal-weight people are included in this kind. This means that to qualify for this category, your weight and health should be above the standard.

For example, you weigh better than the standard kept by the insurance company, and you are also free from any medical problems, like heart disease or diabetes, then you are considered as an ideal candidate for Preferred Plus.

Height plays an important part here because if you are above the ideal weight due to your height, just even a few pounds, then you will not be classified into this type. So you need to take care of yourself a lot to receive this rating.

Another essential thing is whether you are a smoker or not? Remember, you have to be a complete non-smoker to get yourself a ‘Preferred Plus’ badge.

2. Preferred

Preferred is one-step down to Preferred Plus. Life insurance companies will classify you into this group if you have been through any medical conditions in the past, or if you have a family history of moderate or common diseases. However, you must be in great health at the time you are applying for life insurance. So if you have all these characteristics, you are going to be rated as ‘Preferred’.

Smokers can also get similar ratings, depending on their tobacco usage. So, if you consume tobacco through cigarettes or cigars, you can qualify for this class. Nevertheless, your consumption must match the standard of the insurance company.

3. Standard Plus

‘Standard Plus’ comes after the ‘Preferred’ type. You are eligible for this category if you are in good health but your family medical history has been negative with only a single condition. For example, if your family members have heart conditions only, then you are a ‘Standard Plus’ life insurance policyholder. Nevertheless, multiple health problems in the family members won’t help you qualify for this rating.

4. Standard

You will be considered in this category if you have manageable health problems, such as blood pressure and cholesterol. Smokers and a bit obese or overweight people can also get a ‘Standard’ rating.

BMI Ratio is Important

BMi is importantYour BMI is an essential factor when applying for life insurance. The majority of life insurance organizations will make your insurance premiums by reviewing your weight and height.

Although BMI doesn’t provide accurate results of body fat in your body, or how physically fit or unfit you are, it does have an importance when it is about applying for life insurance in your selected insurance company.

The information is surely personal, but it is severely vital for your insurer, as it helps them to check and estimate any forthcoming medical conditions. And yes! They can do it by knowing your BMI.

On the contrary, it is important to understand that all insurance companies have different policies. Let’s suppose, your BMI is 28, and you have applied in two insurance companies ‘A’ and ‘B’ to get life insurance. ‘B’ may reject your application but ‘A’ approves it.

So you may ask yourself WHY?

Well! Simply put, the company ‘A’ may have different approval policies on the bases of BMI than company ‘B’.

However, you must keep in mind that this is not the case that is seen often. You have to make sure that your BMI matches most of the insurance companies’ benchmarks.

Don’t worry! This article will help match your BMI with most of the insurance organizations’ requirements. Just carry on reading.

Impact of Age on Life Insurance

Just like the BMI, your age is an important element to get life insurance.

The annual rate or premium of the life insurance policy is also set through your age. About an 8% to 10% increase in the premium of the life insurance policyholder depends on the candidate’s age.

For example, a male, age 45, has to pay $1,125 annual premium for life insurance that will provide a benefit of $1 million. On the other hand, a male, age 46, will pay $1,225 annually, while a 47-year-old male would pay $1,345 every year for the same coverage ($1,000,000).

The above example clarifies that if a person buys life insurance in the current year, he or she has to pay fewer premium rates, whereas, the more he or she waits, the premium cost increases.

So ever thought why such policies are common in most of the insurance companies? The reason is simple because every year, you become closer to your death, and your policy becomes expensive for the company.

Therefore, you must apply for life insurance as soon as possible to get low premium rates, especially when you are obese.

Life Insurance for Morbidly Obese People

Undeniably, there is a difference between having a bit extra pounds and being obese or overweight. As the two terms have discussed above, you must be eager to know about the word ‘morbid’.

This term is often used by your doctors, so if you have been hit with this word, then it means your weight may put you in a lot of trouble. ‘Morbid Obesity’ is surely an alarming word used by the doctors to signify that your weight has now become poisonous for your health. In other words, it is negatively impacting your body.

But how doctors rate you morbidly obese?

It is because of your BMI. If it’s between 35 to 40, or even beyond this range, then you are among the morbidly obese people with an enhanced risk of severe medical diseases.

Morbid obesity usually intervenes with your walking or performing day-to-day tasks abilities. Moreover, it harms your fundamental physical functions.

So if a person is morbidly obese, then it becomes quite difficult to get affordable premium rates on life insurance because he or she is on high health risks, such as:

  • Complete or partial disability
  • Liver disease
  • Hypertension
  • Cardiovascular disease
  • Cancer
  • Type 2 diabetes
  • Sleep apnea
  • Renal failure

How to Get Affordable Rate?

You can win over your obesity or overweight to get affordable life insurance rates. However, there are certain things you will have to do.

Lose Weight

It does sound hard but you should trust your strengths. Losing weight is neither a piece of cake nor an overnight game. It takes true determination, dedication, and hard work. It’s like hammering the iron until it gets into your desired shape. And this is the first thing you can do to have affordable rates.

However, you must keep in mind that you have to pick the hard way to get it done. As your weight is not normal, so you do need expert’s help to lose those extra pounds as quickly as possible.

So, here’s what you can do:

  • Find a gym, get a membership, and start working on your weight by taking help from trainers
  • Follow the diet plan and be strict on it. Remember, there is no turning back if you want affordable life insurance rates
  • Get in a proper routine, and avoid junk food
  • Avoid over-thinking to stay out of depression, as it is one of the main causes of obesity
  • Keep yourself motivated no matter what comes in your way

Yes! Losing weight is certainly the hardest way to get the job done, but its fruits are too sweet in the end. The consequences may not only help you get reasonable life insurance rates but also you will be healthy and happy.

Apply for Guaranteed Acceptance Policy

Guaranteed Acceptance Policy, also called the GI life insurance, or guaranteed issue is generally whole life insurance that has limited death benefits. It creates a cash value over time and the coverage is guaranteed as long as you continue paying the annual premiums. But in GI, the death benefits are less than $25,000.

This is another way to get affordable rates, as you don’t have to give any medical exams, also you are not asked about your medical history. In the ‘guaranteed acceptance policy’, the quotes are based upon your gender, location, and age. Therefore, you are safe from all the hurdles, however, the coverage is also limited to a certain amount.

Compare Online

Last but not least, you can always take advantage of our quote comparison service to find several US insurance companies offering different premium rates and death benefits. You can look for the comparison chart to approach the most suitable insurance organization as per your requirements.

There are obvious reasons why obese and overweight people are offered costly life insurance policies as compared to normal-weight people. Your BMI is the key factor in deciding your annual premium and coverage. But through your will, you can get affordable life insurance plans by working out on yourself and by staying healthy, or choosing other ways.

Linda Chavez

I'm a burial & senior life insurance expert, independent agent, Founder & CEO of Seniors Life Insurance Finder. I have been working in this sector since 2004 and established my own company in 2014. I have a team of seven members, and we are trying hard to share the knowledge we've gathered. We know how difficult often it is to find an affordable policy. Hence, we are doing our best to help you.