How Weight Impacts Rates for Life and Disability Insurance

When it comes to purchasing life or disability insurance, many factors play a role in determining your premium rates. One often overlooked but significant factor is weight. Insurers assess your overall health to determine the risk of insuring you, and weight—as part of your Body Mass Index (BMI)—is a key indicator they use.

Why Insurers Care About Weight

When you apply for life or disability insurance, the insurance company will evaluate your risk and likelihood of living a long, healthy life or becoming disabled. Weight is closely tied to several health conditions that can increase these risks, including:

• Heart disease
• Type 2 diabetes
• High blood pressure
• Stroke
• Certain cancers
• Joint and mobility issues

Similarly, being underweight can signal potential underlying health concerns like malnutrition, hormonal imbalances, or chronic illness. For these reasons, insurers use weight as a metric to assess risk.

How Weight Affects Life Insurance Rates

When you apply for life insurance, your premium rates are categorized into health classes such as Preferred Plus, Preferred, Standard, and Substandard. Your BMI often determines where you fall on this spectrum:

• Healthy BMI (18.5-24.9): If your weight falls within this range, you’re more likely to qualify for the best rates.
• Overweight BMI (25-29.9): You might still qualify for decent rates, but insurers may categorize you as higher risk, depending on your overall health and medical history.
• Obese BMI (30 and above): Obesity increases the risk of many health conditions, leading to higher premiums. Insurers may classify you into a substandard category or impose exclusions.
• Underweight BMI (below 18.5): Being underweight can also raise red flags and result in higher premiums, as it may indicate underlying health issues.

How Weight Impacts Disability Insurance Rates

Disability insurance protects your income if you’re unable to work due to illness or injury. Because weight can contribute to conditions like joint issues or chronic disease, insurers take BMI into account when setting rates. Higher BMI levels may lead to exclusions for specific conditions or increased premiums. For example:

• If you’re overweight, you may face exclusions for back or joint-related disabilities.
• If you’re obese, the insurer might add a surcharge or limit coverage options.

Other Factors Beyond BMI

While BMI is a common metric, it’s not the sole factor insurers consider. They also evaluate:

• Medical history: Conditions like hypertension or diabetes may carry more weight than BMI alone.
• Lifestyle habits: Smoking, alcohol consumption, and exercise habits are factored in.
• Family history: A predisposition to certain illnesses can influence rates.

Steps to Improve Your Rates

If your weight is affecting your insurance premiums, there are steps you can take to improve your health and lower your costs:

1. Adopt a Healthy Lifestyle: Regular exercise, a balanced diet, and adequate sleep can help you achieve and maintain a healthy weight.
2. Get a Re-evaluation: Some insurers allow you to retake a medical exam if you’ve improved your health since the original policy was issued. Typically you need to lose the weight and keep it off for at least a year for reconsideration of rates.
3. Work with a Specialist: Independent insurance brokers can shop around for the best rates and find insurers who weigh other factors more heavily than BMI.
4. Consider Guaranteed Standard Issue Policies if you are a medical resident: If weight is a major concern, a guaranteed issue policy might be an option, although these typically have higher premiums.

Weight is just one piece of the puzzle when it comes to life and disability insurance rates, but it’s an important one. Understanding how insurers view weight can help you make informed decisions and potentially save money in the long run.

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