Life Insurance for Overweight Individuals

Life insurance for overweight individuals isn’t as hard to find for as you think, provided that being overweight is your only health issue. However, being overweight in combination with other health conditions can make it hard to find affordable term life insurance or permanent whole life insurance options.

This article will not only provide you with real sample term life insurance rates by age to compare, but we’ll give you the insider tips on how to get qualify for those rates.

You can learn more about how to find life insurance for overweight individuals by using our free quote tool now to get a custom rate and compare with the data and rates we provide you in this article.

How Can You Be Denied Life Insurance Due to Weight

In most cases, insurance companies won’t deny insurance outright unless a person is overweight and has other health issues or family history concerns.

According to the CDC, obesity-related conditions such as heart disease, stroke, type 2 diabetes, and certain types of cancer, are some of the leading causes of preventable death.

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How does BMI affect life insurance? The chart below provides life insurance weight limits by height for each life insurance risk class.

These charts are often different from one company to another. For instance, State Farm life insurance life calculates its own life insurance underwriting risks in a different way than other insurers. If you are overweight, it is crucial to know which company will give you the best rate based on your height-to-weight ratio.

The table below provides you the average rates we found offered for a 20-year term, $500,000 policy.

Average Monthly Life Insurance Rates for Overweight Males & Females by Weight

Banner life insurance offers preferred rates to individuals who are 6’0” up to 207 lbs. AIG life insurance offers great rates up to 217 lbs, and Prudential life insurance will go up to 228 lbs for the best rate.

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Should I lose weight before applying for life insurance?

Any rapid weight loss can be a sign of another ailment, such as bulimia or depression. Even if you lose it in a healthy way such as by changing your nutrition and exercise habits, a rapid weight loss within a year will result in adding at least 50% of the weight back in the application.

Does weight affect health insurance too? The answer is yes. According to the NCBI, obese individuals can pay as much as $732 more in annual health insurance costs. Today, health insurance for overweight applicants often offer weight loss programs or weight management incentives.

However, a recent study at UPenn found premium based financial incentives do not motivate people to lose weight.

What will the underwriter ask?

Here are some examples of what the underwriter will ask you:

• How old are you?
• Do you smoke?
• What is your weight/height?

Even for no exam life insurance, you will need to provide written answers to these questions.

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Case Studies: Tailored Life Insurance Solutions for Overweight Individuals

Case Study 1: Traditional Term Life Insurance

Emily is a 45-year-old woman who is overweight and has a family history of heart disease. She wants to ensure that her family is financially protected in case of her passing. She decides to explore traditional term life insurance options.

Emily contacts an insurance agent who specializes in finding coverage for individuals with pre-existing health conditions. The agent helps her navigate the underwriting process and find an insurance company that offers coverage for overweight individuals.

Emily opts for a 20-year term life insurance policy with a death benefit of $500,000. Despite her weight and family history, she undergoes the necessary medical evaluations and provides her medical records for underwriting. The insurance company approves her application, and Emily receives her policy. She pays a monthly premium of $80 to secure financial security for her family.

Case Study 2: Guaranteed Issue Life Insurance

John is a 55-year-old man who is significantly overweight and has been declined for traditional term life insurance due to his weight and other health issues. However, he is determined to find a solution that provides financial protection for his loved ones.

John learns about guaranteed issue life insurance, a type of coverage that is available without a medical exam or health questions. He contacts an insurance broker who specializes in high-risk cases and helps him find a reputable insurance company that offers guaranteed issue life insurance for overweight individuals.

John applies for a policy and is approved without any medical evaluations. Although the coverage amount is lower compared to traditional life insurance policies, it still provides some financial security for his family. John pays a monthly premium of $150 for a policy with a death benefit of $50,000.

Case Study 3: Permanent Whole Life Insurance

Sarah is a 35-year-old woman who is overweight but is committed to improving her health and maintaining a healthy lifestyle. She wants to secure lifelong coverage that will provide financial protection for her family.

Sarah consults with a financial advisor who explains the benefits of permanent whole life insurance. They discuss the cash value accumulation feature of whole life insurance and how it can serve as an additional asset.

Sarah chooses a whole life insurance policy with a death benefit of $250,000 and pays a monthly premium of $200. Over time, the cash value of her policy grows, and she can access it through policy loans or withdrawals if needed. She has peace of mind knowing that her family will receive the death benefit upon her passing, and she has an additional asset that can provide financial flexibility during her lifetime.

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Life Insurance for Overweight Individuals: The Bottom Line

Hopefully, we’ve provided you the information on how to shop around to still get preferred rates even you are a few pounds overweight or more. We hope that we’ve also made the case that it doesn’t help to wait until you work off those pounds before you secure life insurance.

So get started with your journey to find affordable life insurance for overweight individuals quickly and easily by using our free quote tool now to find a quality custom rate in seconds.

References:

1. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4224588/
2. https://www.pennmedicine.org/news/news-releases/2016/january/premiumbased-financial-incenti

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