Life Insurance for Overweight People

Buying High BMI Life Insurance  

It’s important to understand that you shouldn’t have to pay significantly higher rates for life insurance simply because you carry a few extra pounds! 

The good news is that life insurance companies use varying criteria, which are not standardized across the industry.

We know which companies provide more lenient height and weight charts for male applicants and which carriers are better suited for females who may be heavier.

weight loss and life insurance

Is it beneficial to lose weight before applying for life insurance? Absolutely, shedding excess pounds is always a positive step.

However, it’s important to note that weight loss may not significantly impact your life insurance rates as you might expect. 

The reason is that most life insurance companies typically consider your average weight over two years.

If you lose more than 10 pounds within the 12 months preceding your application, you will receive partial credit for only 50% of that weight loss until you maintain your new weight for at least one year.

For instance, if you initially weighed 250 pounds and successfully shed 50 pounds in the past year, your rating would be adjusted to reflect a weight of 225 pounds instead of 200.

Insurance companies prefer stable and sustained weight loss and generally require evidence of maintaining this new weight for two years before granting full credit.

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Case Study on Fat Jack

What will happen if Jack has already lost weight for over two years?

Instead of being assessed at a standard rate because Jack was overweight, he is now eligible for a preferred rate class.

Notice the price difference when Jack applies for a twenty-year $500,000 policy, being overweight compared to being a fit ant and trim at 60 years old.

This shows how the life insurance weight chart can affect your premiums.

Wow, that is over $1,600 in savings per year for Fit Jack, with nearly $32,000 in savings over 20 years.

This cheaper rate is available because he fits within the height and weight tables.

Taking an exam for Life insurance

Should heavy people take a medical exam when applying for life insurance?

Most people think it would be best not to take an exam for life insurance for overweight applicants to qualify for coverage.

However, most stout people seeking life insurance should take the exam because it is their best opportunity to get affordable policies.

Since most life insurance companies require a medical exam, you can get more insurance offers through the exam application process.

Furthermore, many insurance companies that do not require a physical exam underwrite policies on a pass/fail basis.

So, more rotund applicants who fall outside the carrier’s published life insurance weight limits will be declined for coverage.

Life Insurance for heavy people with Medical issues

You may qualify for standard rates for life insurance being overweight, assuming you do not have any other significant medical problems. 

Many heavy people are also being treated for hypertension or cholesterol and can qualify for coverage, assuming their condition is well controlled.

Bulky diabetics who control their blood sugar levels well with diet or oral medications can qualify for standard rates.

If you have a more serious medical condition, seek an agent specializing in high-risk life insurance policies.

Life Insurance for overweight Seniors

As individuals age, it is common for them to gain a few extra pounds each year. Therefore, insurers often allow seniors to exceed standard weight limits if they have maintained a healthy lifestyle.

Some insurance providers even have specific height and weight charts that apply only to individuals above a certain age.

Additionally, senior applicants may qualify for preferred rate classes typically unavailable to younger individuals.

Many seniors purchase permanent life insurance policies such as universal or whole life insurance plans, which can also offer price reductions.

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Buyer Tip:

Cheaper Rates  for Permanent Life Insurance

• Since you pay more for your life than a term policy, you are allowed more lenient underwriting with a few companies.
• These companies will not “table rate” your policy because you have already committed to a higher premium towards lifetime coverage.
• People who are overweight and need long-term coverage can benefit from more liberal underwriting available on permanent life insurance.
• Several insurance companies offer a “table shave” program for people who would typically be assessed a table rating on term life insurance.
• This upgrade is usually only available on permanent coverage like guaranteed universal life insurance.

How Much Does Life Insurance Cost?