Being overweight or obese doesn’t only affect you physically, mentally, and socially. Unfortunately, being overweight can significantly influence your lifestyle as well as reduce your financial security. Securing life insurance with obesity can be a challenge that can add to your financial stress.
But there is hope for getting life insurance. Read on to learn tips for achieving a healthier lifestyle despite your wait. Then, we’ll explain why and how insurers take into account your height and weight when setting your rate and how you can find the best and most affordable coverage.
Weight and a Healthy Lifestyle
What constitutes a healthy weight varies by individual. Some bodies operate best at a certain weight, while others need more weight to be at their best.
But there comes a point when your weight can interfere with the lifestyle you wish you could live. If you find yourself opting out of activities because you don’t have the strength and endurance to participate, it’s probably time to make a change.
Eating a Healthy Diet
Diets are frustrating, and many people become discouraged when they lose weight, only to put it right back on again when they take a break from their diet.
That’s why healthy eating must become a lifestyle instead of a short-term solution. Look at food as fuel to support your activities. Don’t turn to food as a crutch to help you through stress, nerves, or boredom.
Get rid of unhealthy snacks. If you keep them in your home, you’ll eat them. On the other hand, if you fill your fridge with healthy snacks like fruits and vegetables and keep your pantry empty of chips and candy, you’ll have no choice but to eat healthy foods.
Exercising to Lose Weight
While some people argue for healthy eating over exercise, both are essential for optimal wellness.
Obesity makes working out challenging, if not impossible, and then the lack of exercise contributes to obesity, and it’s difficult to break the cycle.
If you’re unable to exercise because of your weight, you’ll have to start with a diet until you lose enough weight that you carry your body weight to start exercising.
Start small and build a little more strength each day. Join a gym or exercise group to give yourself accountability.
Your quality of life will increase as you become better able to participate in it physically.
Life Insurance and Obesity
Your weight doesn’t matter when it comes to car insurance, so you may wonder why it’s a big deal with life insurance.
Life Insurance Risk Calculations
All types of insurance calculate your risk before offering you a policy. Their goal is to make money on you, and if they have to pay a claim, they lose money. So, the higher the risk they’ll have to pay a claim, the higher your insurance premiums will be.
When it comes to operating a vehicle, your weight doesn’t have a measurable impact on your risk of having an accident the same measurable way other factors do, so insurance companies don’t ask for your weight when writing you a policy.
However, your weight has a direct correlation with your health. Therefore, life insurance companies focus on your health because it is one of the most significant indicators of their risk in writing you a life insurance policy.
Term Life Insurance for Overweight Individuals
Term life insurance is one of the most important types of insurance you can get. It protects your family from financial ruin if something happens to you while you have more debt than assets. Term life insurance can also ensure your family can maintain the same lifestyle they enjoyed when you were providing for them.
When you apply for a term life insurance policy, one of the elements of your health that they’ll take into consideration is your weight. Even if you’re healthy in every other area, you could end up in a high-risk category just because you’re overweight.
If you’re overweight but healthy, you’ll likely qualify for a policy, but you’ll pay more than you would if you fit into the criteria for optimal weight.
If you’re morbidly obese, you may find it challenging to find an insurance company that will write you a term life insurance policy.
Whole Life Insurance and Obesity
Insurance companies offering whole life insurance policies will also often request your weight before writing a policy. And as with term life insurance policies, if you’re overweight but healthy, you’ll likely be eligible for a policy, but you might not be able to secure life insurance if you’re morbidly obese.
If you can’t get a standard policy, you can still get a guaranteed issue life insurance policy. This kind of coverage is limited and is usually just enough to cover funeral expenses. Still, it’s better than nothing, and if you don’t have a way to cover end-of-life costs, a guaranteed issue policy can take that burden off your next of kin.
Saving Money on Insurance Despite Your Weight
Don’t give up if you’ve tried to find life insurance and failed. You may just need to look around a little to find the company that’s a better fit for your situation.
Compare Life Insurance Quotes
Life insurance companies set their own criteria for health. While one company may label you as obese, you may fit into the overweight category at another. You may find that some insurance companies use weight as one of their most essential considerations, while others don’t.
Lose Weight for Better Life Insurance Options
If you’re close to fitting into a lower-risk life insurance category, you might want to try to lose weight before applying for coverage. And if you’ve previously been denied coverage, try again after reaching a lower weight. Even a few pounds could make a difference, just as these body mass index (BMI) insurance charts show.
Lower Your Risk to Insurers
Weight is only one factor that makes up your life insurance eligibility and rates. If you’re trying to save money on life insurance, you should also consider improving other areas of your health that could lead to lower premiums.
For example, if your blood pressure is high, work with your doctor to lower it. You may even discover that the same strategies you use to lower your blood pressure will also help you lose weight.
Your weight directly impacts your lifestyle and finances, but focusing on healthy eating and exercise will help you save money and lead a more fulfilling life. It’s worth the effort.
Melanie Musson writes and researches for the insurance comparison site, ExpertInsuranceReviews.com. She’s passionate about helping others understand how their health and wellness directly impact their options for life insurance.