Weight and Life Insurance Rates

Your weight affects your Life Insurance rates. In addition to the many other factors considered your weight matters when you apply for a policy. If you are overweight the underwriter will not award you one of the Preferred rate classes. Being significantly overweight will mean not qualifying for the standard rate either.  You could even be charged an additional amount, this is often called a ‘table rating’ in reference to the height/weight tables the underwriter uses.  Because weight plays such an important role in our health, those who are morbidly obese are denied coverage entirely.

Should you delay applying if you want to slim down? That depends. For most people, the answer is no. If you need Life Insurance, please get it. Don’t put off buying coverage even if it means paying a bit more.  The cost to your loved ones if you go without coverage is just too high! If you already have Life Insurance, it might make sense to hold on to your current policy while you lose the pounds and then apply for a new replacement policy.

Pregnancy Weight

Generally, when a pregnant woman applies, her pre-pregnancy weight is used. This means it is to your advantage to apply right away and not delay until after the baby is born. If you do wait then your post-baby weight will be what determines your rating.

Bodybuilders

Yes, underwriters know that muscle weighs more than fat. For those who work out and build muscle the underwriter usually has the discretion to take other factors into consideration to offset your higher (but still healthy) weight.

Too quickly isn’t good!

If you lose a considerable amount of weight rapidly, know that when you apply the underwriter will usually add back half of the pounds lost in the last year when making their calculations. This crediting ‘penalty’ makes sense when you think of how common it is for someone to lose weight rapidly and then hit a setback and gain it all back and then some. The best way to lose weight is slowly by making lifestyle changes you can stick with for the long term.

Be truthful

Be upfront with your agent about how much you weigh. Unlike the DMV that will take your word for it, Life Insurance companies will require proof through the form of an exam. The paramed exam consists of height and weight measurements, a blood pressure reading, and samples of blood and urine.  If you weigh more than stated the underwriter will wonder why you gained so much without noticing.  You don’t want to give the impression you might have an undiagnosed illness.

The good news is that each company uses different height and weight tables. If you work with an independent agent and let them know your true weight upfront they can help you select the company most likely to offer you the best rating.