Health care costs continue to outpace inflation as more and more people seek ways to keep their insurance costs down. Many people talk about preventative care as a way to keep their health care costs in check. One of the most important factors that is taken into consideration when you go to buy life and health insurance is the overall state of your health. Therefore, it is no surprise that overweight people pay more in premiums than those who are not overweight.
Obesity in the United States has become an epidemic and insurance is one of the industries that is feeling the effects of this epidemic. When insurance companies have to pay more in medical costs for overweight individuals, everyone’s premiums go up. Those individuals who are considered obese usually see their own health insurance premiums being raised above and beyond the increases of the general population. One online survey found that individual insurance policyholders pay approximately 25 percent more in monthly premiums than those who are considered to be a healthy weight. While some people consider this unfair, the fact is that the Centers for Disease Control and Prevention found that people with a body mass index (BMI) of 30 or above had an 18 percent higher death risk and that risk continues to rise along with your BMI.
When it comes to life insurance, being overweight is one of the most common reasons a person is declined. While being a few pounds overweight won’t be a problem, being obese certainly will be a problem. According to life insurance expectancy charts, the percent you are overweight is directly proportional to your chance of dying at any particular time because of weight-related heart problems, diabetes, high blood pressure, etc.
If you are planning to lose weight in order to save on life insurance rates, there are a few things you may want to keep mind. First, while losing weight can definitely get you a better rate, you need to have kept that weight off for a while. If you have lost 10 or more pounds in the last year, your insurance company may average your current weight with your previous weight since people typically gain weight back. Also, make sure that even if you are overweight, you highlight positive family history like the lack of cardiovascular disease, diabetes, or high cholesterol. Insurers take more than just your height and weight into consideration when writing a policy.
Like all matters having to do with life insurance, there are exceptions to every rule. The key is to find an insurance agent who will work hard to find the best rates for your particular situation.