In the United States, one-third of adults are considered overweight. Another one-third are considered obese. Being overweight or obese is linked to a host of dangerous health conditions such as diabetes, heart disease, cancer, stroke and high blood pressure. As a result, many insurance companies use weight as an indicator of an individual’s overall health. It’s an additional risk to offer coverage to individuals with serious health conditions, which is why it can be more difficult for overweight and obese individuals to find life insurance coverage. But don’t despair, you can still get life insurance if you’re overweight or obese! Here’s what you need to know before applying.
How Do Insurers Define Overweight?
Every insurance company has its own life insurance weight chart that guides their definition of overweight and obese. Body mass index (BMI), a number calculated using an individual’s height and weight, is typically taken into consideration. A BMI of 18.5-24.9 is considered healthy for adults, a BMI of 25-30 is considered overweight and a BMI of over 30 is considered obese. BMI is not always accurate because it doesn’t consider muscle mass or body fat distribution, but it is one of the factors insurers consider.
Can You Get Life Insurance if You Are Obese?
You may not be rejected for life insurance coverage based on your weight alone. Your health history, lifestyle habits, family medical history and other indicators of overall health will play a role in your ability to get coverage as well as the rate of your premium prices. Some insurers may just have you pay more in premiums rather than denying you coverage.
If you do get denied life insurance due to obesity, losing weight may help you qualify for coverage or reduce your rates. However, you shouldn’t wait until after you lose weight to get insured, as that leaves you and your family without coverage throughout the duration of your weight loss journey and for as long as a year afterward. Some insurance companies will have you maintain your new weight for a year before lowering your rates or reconsidering your coverage. If you reapply for coverage during that first year, the insurer may only adjust your rate to recognize 50% of your weight loss.
Other Life Insurance Options for Overweight Applicants
Losing weight may not be a viable option for you, but there are a few other avenues you can consider.
- Life Insurance Through Your Employer
For those who don’t qualify for other types of life insurance, group insurance through work can be a helpful alternative since you won’t need to submit health information. However, know that a group policy may not provide the amount of protection you and your family need. Additionally, your coverage will end when your employment does.
- Term Life Insurance
Because term life insurance policies expire after a predetermined length of time, they’re often less expensive than whole life insurance policies. Plus, should you decide to lose weight, you will still have coverage in the short term. Then, once you’ve lost the weight, you can reapply for whole life insurance.
- No Medical Exam Life Insurance
Some whole life insurance policies do not require a medical exam as part of the underwriting process. This allows for a quicker and less invasive application process. Americo Financial Life and Annuity Insurance Company (AFL) helps seniors find life insurance coverage that’s affordable, offers flexible benefit options and doesn’t require a medical exam. Get your free online quote today or contact an Americo agent with any additional questions you may have.