Everyone knows that taking in too many calories and not exercising enough can cause us to become overweight. What many people don’t know is that being overweight can affect the cost of your health insurance and life insurance. People who are overweight are typically charged higher rates by life insurance and health insurance carriers, while individuals who are seriously overweight may be denied coverage entirely.
Being overweight can cause an individual to be more prone to medical conditions such as certain cancers, heart disease, type II diabetes, arthritis, stroke, breathing problems, and depression. All of these conditions can be extremely costly to treat, which is why life insurance and health insurance carriers charge overweight individuals higher rates.
One of the most common reasons why people are denied life insurance coverage or are charged significantly higher rates is due to them being overweight. Individuals who are overweight have a likelihood of dying at any given age that is roughly equal to the percentage that a person is overweight. For example, if a person is substantially overweight, the person is more likely to die at a given age than a person of the same age who is not overweight. This theory is based on the fact that overweight individuals experience much higher rates of health issues such as heart problems, diabetes, and high blood pressure. In terms of life insurance, being overweight is viewed as a strain on your cardiovascular system, which life insurance underwriters will view as an elevated risk. These underwriters want to see that an individual has a good family history, good cholesterol, low blood pressure, and that they exercise. A person who is seriously overweight will most likely fall outside of this category.
Individuals that lose their extra weight and maintain a regular exercise routine will be able to lower their health insurance premiums over time. Whether or not they will qualify for life insurance or reduced premiums will depend on how the underwriter evaluates the person’s medical history and other factors. Either way, losing excess weight is good for your health, and also saves you money.