When you are buying life insurance, several factors will determine your ultimate cost and how much coverage you can get. The most important factors life insurance companies consider when issuing a policy are your age, your smoking habits, your overall health, and your weight.
You may be able to quit smoking, but there is little you can do about your age and your overall health, especially if you have a hereditary condition such as high blood pressure or diabetes. However, your weight is something that you can usually control, and it may make a large difference when the cost of your life insurance is determined.
People who are overweight run higher statistical risks of diabetes, stroke, and heart disease. Knowing this, insurance companies frown on individuals whose weight exceeds that of the standards established by the medical profession. How much you are overweight may have a direct effect on how much more you have to pay for life insurance, but some companies view any deviation from standards as a reason to charge more for premiums.
Life insurance companies published height and weight standards which are used in determining whether you are considered overweight. During your medical examination, you will be weighed and your height measured, and these figures will be compared to industry standards.
For example, a woman who is five feet, six inches tall can weigh between 120 and 159 pounds, depending on frame size, according to Met Life’s height and weight chart. These standards were revised in 1983 for Met Life, due to revisions in the research regarding “healthy” weight. Many companies still use these standards for evaluating overweight in prospective clients.
However, many companies vary when considering what is a “healthy” weight, often by several pounds. For example, for a six-foot male, the maximum weight for Prudential is 213 pounds; for Transamerica, the same male can receive preferred rates only if he weighs no more than 205 pounds. For a five foot, five-inch female, Prudential allows up to 179 pounds, while Transamerica allows only 170 pounds. It is easy to see that companies are not consistent when considering how weight affects rates.
A newer way to measure “healthy” weight is through the use of BMI, or body mass index. Many health insurance companies have begun to use this measure when calculating health insurance premiums, although few life insurance companies use this standard at present.
Most companies which use BMI consider a reading between 18.5 and 24.9% to be healthy; between 25 and 29.9% is overweight and will result in higher premiums; anything over 30% is considered obese and may result in rejection of a life insurance application. While BMI does correlate somewhat to height and weight charts, it theoretically removes some of the subjective judgment of “frame size.”
However, BMI may not work for someone, like a body builder, who has a large amount of muscle. In this case, the individual is better off seeking the help of a dedicated agent who can explain the weight issue to the company.
Life insurance companies may relax these standards somewhat when assessing an elderly person. Because other health issues may take priority, the elderly will probably be paying higher premiums anyway, so life insurance companies tend to ignore weight unless it is truly high. Further, most elderly people tend to be less likely to be obese.
Overweight is not the only problem which can cause you to have higher life insurance rates. Some companies view underweight as a serious problem, too, and may deny coverage if you are too thin. Underweight can often be a symptom of other health problems, so someone with a BMI of less than 18%, or with a weight substantially lower than the charts allow, will probably be subject to more rigorous medical questioning than a person of normal weight.
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