Can Overweight People Buy Life Insurance

If your other health conditions, like blood pressure, cholesterol, and sugar levels, are under control, you can still get approved for a policy at reasonable rates.

Let us explore how being overweight affects life insurance, the factors insurers consider when underwriting policies, and how overweight people can get the best deal on life insurance.

Can You Get Life Insurance if You Are Overweight?

Yes, you can get life insurance with a high BMI from the best life insurance companies in India. The premium rates of term life insurance for obese adults are slightly higher than the premium rates for regular life plans. The life insurance plan may not offer the same benefits and have a few exclusions. 

How does weight impact life insurance premiums? 

Weight directly affects life insurance premiums. Insurers view being overweight or obese as a higher health risk, which can raise your premium. They usually check your Body Mass Index (BMI) to assess this risk. A higher BMI often means a higher premium. However, other factors like age, lifestyle, and medical history also affect the final cost.

This means that if you are overweight, you need to compromise on your life insurance policy regarding premium rates. You can buy a  life insurance from popular companies, but it will be expensive.

What is Body Mass Index?

Body Mass Index, or BMI, is a measurement that uses a person's height to determine the suitable weight for the individual. It uses various factors like age, weight, height, and gender to determine the appropriate weight for your body. A weight calculator is an offline or online tool that measures the body mass index value. It helps assess your health status using your BMI score. If your BMI is underweight, you should focus on gaining weight; if it is in the overweight category, you need to focus on losing weight.

How to Calculate BMI?

Here is how you can calculate your BMI before purchasing life insurance for obese adults.

BMI = (Individual’s weight in Kg)/ (Individual’s height in m)2

After calculating your BMI, you can refer to the following BMI chart for the suitable outcomes. It is recommended to have a body mass index value between 18.5 to 24.9, to get the most affordable premium rates.

How Does BMI Affect Your Life Insurance?

• BMI shows your health status: Insurance companies use your Body Mass Index (BMI) to check if your weight is healthy.

• Higher BMI means higher risk:
  A high BMI increases the chances of heart disease and other weight-related health problems. This makes insurers see you as a higher risk.

• Lower BMI can also be risky:
  Very low BMI can also signal health issues, such as underlying illnesses or weakness, which may raise concerns for insurers.

• Why insurers check BMI:
  People with high BMI may need frequent medical care, leading to higher medical costs. Insurers increase premiums to cover this higher risk.

• Higher health risk = higher premium:
  The more likely you are to face health issues, the higher your life insurance premium will be.

How to Save on Premiums if Overweight:

• Buy term insurance online:
  Buying online lets you compare multiple plans at once, helping you find better rates and benefits.

• Compare plans on one platform:
  Online comparison tools make checking premium amounts and coverage easy in one place.

• Improve your health:
  Losing weight and improving your BMI can help lower your risk. Once your health improves, you can apply for a new plan at lower premiums.

Do Insurers Only Use Overweight as a Health Indicator?

Insurers use a lot of other factors to assess an individual's health status before offering the plan. An individual with a higher BMI might be fitter than someone who smokes frequently. Thus, the other factors that you should also take into account are

• Age: Younger persons are less likely to be a responsibility to the insurer, so they are mainly provided with more affordable premium rates compared to older individuals. Therefore, you must always buy a term plan as soon as possible, as the premium rates increase with age.

• Family history: There is a higher probability of an individual having a genetic illness that might impact them in later life. For example, Parkinson's is an illness that jumps from generation to generation and generally affects people in later life. Hence, insurers sometimes ask for a medical history before deciding the premium rates.

• Alcohol and tobacco use: If an individual has a past of smoking or chewing tobacco or is a heavy alcohol drinker, it impacts the rates of premiums. Alcohol and tobacco consumers might have the ideal BMI, but their internal organs are often affected because of substance abuse. Various insurers offer special premium rates for non-smoking individuals. Thus, lifestyle selection also affects the premium rates of life insurance plans.

Wrapping It Up!

Life insurance for overweight can help you secure your loved ones against the uncertainties of life by providing a death benefit in case of your unfortunate death. A life insurance plan will also grow your wealth and help you save on your yearly taxes. You can compare term plans online based on their premiums, sum assured, policy term, and benefits offered within a few clicks from the comfort of your home.