Life insurance is one of the best safety nets that you could ever purchase for your loved ones. It’s one of the only ways that you can ensure that your family will have the money that they need, even if something tragic were to happen to you. When you apply for life insurance coverage, the company is going to review dozens and dozens of different factors when they are deciding how much they are going to charge you for your insurance protection.
One of the most important factors that they are going to review is your health. Before the insurance company approves your application, they are going to require that you take a medical exam, unless you have chosen to purchase a no medical exam life insurance policy, which will come at a higher premium rate, and the results are going to impact how much you pay.
The medical exam is going to look at your blood pressure, your heart rate, and your weight. If you’re an overweight applicant, you probably know that you’re going to pay more for your life insurance policy. Being overweight can put you at risk for some serious health complications, like cardiovascular problems or diabetes. These health complications are going to mean that you’re a higher risk to the insurance company, and they are going to offset that by charging you higher premiums.
Life Insurance Companies and Weight Charts
Before you purchase life insurance, you should know that every company is going to use a different weight chart. At one point, just about every company was using a standard weight chart, like the BMI chart. These charts are outdated and are not a good indicator of the applicant’s health.
Because every company is different and has different charts, then you could receive drastically different rates depending on which company that you choose. With some companies, you might be considered “normal weight,” but with other companies, you’re going to be considered “overweight,” which means that you’re going to get higher premiums. It’s essential that you find a company that is going to look at your health favorably and gives you the best rates possible.
Another thing that you should know what you’re going through the application process is that you can request that the medical exam include actual measurements, instead of just relying on your height to weight ratio. You can have the nurse or paramedic measure your chest and waist, which could reveal more about your health than your weight.
Getting Cheaper Life Insurance
One of the most common reasons that people don’t buy life insurance is because they assume that it’s going to be too expensive to fit in their budget. Luckily, there are a couple of ways that you can lower your insurance rates, even if you’re overweight. Making a few simple changes can save you thousands of dollars every year on your life insurance coverage.
The first thing that you should do, overweight or not, is to cut out any tobacco that you currently use. If you’re listed as a tobacco-user, then you’re at a higher risk of being diagnosed with cancer or having a heart attack. That is going to translate into higher premiums. In fact, you’re going to pay at least twice as much for your life insurance versus what you would pay if you didn’t use tobacco. Cutting out those cigarettes can save you thousands and thousands of dollars. If you’re looking for extra incentive to quit, your life insurance should give you the encouragement that you need.
Another way that you can save money is to slow down on your way to work. When you apply for coverage, the insurance company they are going to pull your driving records. If you have any accidents or speeding tickets on your driving record, then you’re going to be considered a “high-risk” applicant, which means that you’re going to pay more for your coverage. Laying off the gas pedal will save you money on your life insurance plan (it can also save you money on your car insurance as well).
The best way to guarantee that you’re getting the lowest premiums is to compare dozens and dozens of quotes before you decide which one is best. Because every company is going to use different medical underwriting, you’re going to receive drastically differing rates depending on which company that you choose. Finding the best company is the difference in getting an affordable policy or one that’s going to break your bank every month.
There are hundreds of companies that you can choose from. Instead of wasting your time calling those companies yourself, let one of our agents do all of that work for you. At LifeInsuranceUnited.Com, we are a group of independent insurance agents, which means that we work with dozens and dozens of highly rated companies across the nation. Our experienced agents can bring all of the best rates directly to you. We know which companies are going to offer you the best rates as an overweight application.
Life Insurance for Overweight Applicants
Because you never know what’s going to happen tomorrow, you shouldn’t wait any longer to get the life insurance coverage that your family deserves. If something tragic were to happen to you, and you didn’t have life insurance, your family would be responsible for a massive amount of debt and other final expenses. Losing someone that you love is never going to be easy, but being left with an enormous amount of debt is going to make the whole situation that much worse.
If you have any questions about getting life insurance while being overweight, please contact one of our agents today. We would love to answer those questions and ensure that you’re getting the best life insurance plan possible.