How Does BMI Impact Life Insurance Rates?
Jul 20, 2023
Jamie Fleischner

Jamie Fleischner

20 Jul, 2023
BMI, or Body Mass Index, can have an impact on life insurance rates.

Life insurance companies assess various factors to determine the risk associated with insuring an individual, and BMI is one of the factors considered. BMI is calculated using a person’s height and weight and provides a general indication of whether an individual is underweight, normal weight, overweight, or obese.

Life insurance companies typically categorize BMI ranges into different risk categories. When you apply for life insurance, you will be approved at a different category such as preferred plus, preferred, standard plus, standard, etc… The better the risk class, the lower the premium.

A higher BMI is considered to be at a higher risk of certain health conditions, such as heart disease, diabetes, and hypertension. These health conditions can increase the likelihood of premature death, which affects life insurance rates.

If you ve a high BMI, you may face higher premiums or be subject to additional underwriting requirements before being approved for life insurance coverage. The exact impact on rates will depend on the specific insurance company’s underwriting guidelines and rating system.

It is important to note that BMI is just one factor considered by life insurance companies when determining rates. Other factors, such as age, overall health, medical history, lifestyle choices (such as smoking), and family medical history, also play a significant role in the underwriting process.

Discuss your BMI with your insurance broker if your higher BMI is due to being more muscular. For instance, if you are a body builder and have low body fat but a higher BMI, you can relay this information to the insurance company for consideration.

If you are categorized in a higher premium rate and subsequently lose weight, the life insurance company may reconsider your risk class. Typically they will require that you not only lose the weight but keep it off for at least a year. At that time, you may reapply and request a better risk class.

For more information about life insurance, to run life insurance quotes or to request a quote, contact Set for Life Insurance today!

 

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