subject: When your BMI Increases, so does your Life Insurance Rate [print this page] When your BMI Increases, so does your Life Insurance Rate
Life insurance is the ideal way to provide for your family when you are no longer around to provide for them. It is a great way to show them that you really care. However, too often we end up paying higher premiums on our life insurance, forcing us to compromise on the death benefit. One of the most common reasons behind higher premiums is higher Body Mass Indices or BMI's. Let's learn more.
Why a high BMI will increase your life insurance rate
BMI is a body fat ratio that is derived out of your height and weight numbers. According to The Centers for Disease Control and Prevention a BMI of 30 or more is considered obese, and a BMI between 25 and 30 is considered overweight.
Let's understand the impact of a high BMI:
During a recent study, researchers found that men and women with BMI's between 22.5 and 25 have the longest life spans.
High BMIs are associated with serious health risks such as cancer and heart disease and can seriously shorten your life span.
A BMI between 30 and 35 can reduce your lifespan by 2-4 years, and BMIs between 40 and 45, can reduce life spans by up to 10 years.
Life insurance companies make the most revenue out of people with longer life spans. They value healthy customers who are able to pay premiums well into their retirement years, than those who die from illnesses in their younger years.
A low BMI will therefore increase your life span, but a high BMI will cost you higher premiums. Those who have higher BMI's should therefore work on bringing it down.
How to get your BMI down and qualify for a better life insurance rate
If you have a high BMI and want to qualify for better premiums, the only way out is to bring down your BMI. However, there is no quick-fix method of doing this. Further, life insurance purchases should never be put off. So as a first step, go ahead and buy a policy at a high rate. Term life policies are cheaper than whole life policies and just as effective. If you are serious about bringing your BMI down, get yourself a term life policy that will cover you for about 5 10 years, which is a more than enough time period to bring your BMI down.
Once your life insurance policy is in place, you need to get serious about bringing your BMI down. Simple health, lifestyle and diet changes will make a huge difference. Remember to be consistent and most importantly, keep a record of your progress, along with supporting medical records and notes from your physician. They will all come in handy when you reapply for life insurance later. They will serve as proof, and assure the underwriters that you are serious about your health and are doing all you possibly can to improve it.
Wait for a span of 2 3 years, and if you are able to show consistent results, reapply for a policy.
Enjoy a better, longer life with a lower BMI
The associations between mortality and BMI & morbidity (ill health) and BMI are real and cannot be ignored. One needs to be more careful especially one you are in the market for life insurance. The Life insurance companies consider those who are able to keep their BMIs low for longer periods as their best customers. So remember to maintain your healthy lifestyle throughout your term. A lower BMI will not just guarantee you a lower premium; it will also keep you healthy and give you a better quality of life. Your family will stand to gain the most by having you around for much longer!
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