BMI'm Overweight And Paying A Premium For It: Obesity And Its Effect On Life Insurance Policies

Life insurance is as scary as it is necessary, but what happens when you are forced to pay double the premium for your policy? Double stuff Oreos, double cheese burger, double the money…

Obesity increases your likeliness of heart disease, diabetes and high blood pressure, making you more likely to claim on your insurance. The excess weight being carried by the individual can also put extreme pressure on joints, leading to hip and knee complaints. Insurers are wise to this fact and will charge you accordingly.

The ‘normal’ BMI or Body Mass Index, is between 18.5 and 25. However, if your BMI is over 30 then you risk not only heart disease (amongst other illnesses), but paying a much higher life insurance premium. According to Norwich Union, a non-smoking, thirty five year old male who is 5ft10 and weighs 12stone would pay £14.40 when assuring £200,000 over 15 years. A man of the same age and height, but who weighs 20stone would pay £25.20 for the same policy. Obese candidates are looking at bigger waistbands and emptier wallets.

Insurers also take into account social factors of depression and pressure of feeling accepted. Obesity can lead to suicide in some people and these additional risks are factored into the policy premium. The levels of obesity are rising not only in the older generations but more worryingly, the younger generations as well. This is something parents, the government, food manufacturers and the medical profession should be brought up on.

However, obesity is not the only thing that will increase your premium. Smokers should be prepared to pay more than their healthier cousins. In fact smoking is such an unhealthy habit that smokers should be aware that they may be rejected by some insurance companies entirely. Smoking has been a chief concern for many years, with educative and persuasive techniques employed to encourage the public to quit. It is now equally important for obesity, another lifestyle choice, to be tackled in such a high profile manner. If the rising levels of obesity are not brought under control the public will be the ones paying the rising costs.

Although the premiums may be increased for some, the payout remains a stable. The Association of British Insurers’ (ABI) spokesman, Jonathan French, claims that "the sum assured is not affected in any way by the reasons for claims - they're a constant which is set at the beginning of the policy." This provides some reassurance for those taking out the more expensive policies. It seems as though our lifestyle choices are being reflected in the cost of life insurance quotes. By making healthier choices you are not only decreasing the cost of your policy but adding longevity to your life and increasing the quality of it.