Being overweight or in poor health can cause a person quite a struggle when buying term life insurance. If a policy is found it is a possibility that the premium will be high and could stay that way if the policyholder does not change their lifestyle. Living in poor health or overweight puts
up a red flag to insurance providers. They see people who live like this as a high risk and for that reason; they are subject to higher rates.
Americans are overweight, plain and simple. With the ease of life and fast food eaten on a daily basis, it is easy to see how people are in such poor health. Problems with obesity can cause life insurance companies too much money when they sign up policyholders that have conditions associated with their weight. These medical conditions actually increase a person’s risk for death and for that reason insurers are hesitant. Not all people who are obese are going to be in bad health. As a matter of fact, if you are otherwise healthy, then you may find a policy that fits your needs and saves you money. Those who are obese, yet in good health, can provide medical records and the insurance exam to verify this.
Being overweight or in poor health can lead to problems later in life. This is the scary part for life insurance companies. Even healthy, overweight policyholders can hold this risk. You may be in good health now, but what about in 5 years. Diabetes and thyroid problems can result as you become more and more overweight. High blood pressure and high cholesterol are also factors that can contribute to a higher premium. When this happens, you can find insurance companies who will cover you even with those mentioned medical conditions. It is sad, but true that the more that you weigh, the more that you will pay.
Some life insurance companies offer a preferred rate that, unfortunately, potential overweight policyholders will never see. Even those who are moderately overweight with as little as 20 to 30 pounds will not see the rate either. With moderate weight gain your premium will still cost more because you are looked at as a high-risk policyholder. This applies for term life insurance and permanent life insurance. The best way to avoid the high costs would be to shed some pounds, but that is easier said than done. Even if you did lose weight, could you be sure that your life insurance company would lower your premium?
There are insurance groups that cater to clients with specified medical conditions. With them they are a little more compassionate to the fact that a policyholder may be overweight or of poor health. A death benefit policy can be issued that will pay your beneficiaries in the event of your death. The longer you live, the more money is paid out. If you live for a period over 5 years your beneficiaries would receive the full 100% of the premium that you paid. It is an incentive to change your lifestyle and get healthy.