First of all, I do not want to make anyone upset or angry because of this article. It is a known fact that more than two-thirds of adults in the United States are overweight or obese. There can be significant implications for being overweight for long-term health. Such a condition can obviously affect life insurance. People get worried about how some extra pounds will impact how much you pay for burial insurance.
Similar to the people with pre-existing conditions, the insurer might charge higher premiums or even deny to accept the application if the applicant is considered high risk. This has to be kept in mind that every case and every insurance company is different, so different companies deal with the cases accordingly.
Apart from practicing healthy living habits, a burial insurance plan is considered a significant investment. This insurance policy guarantees the family members or the loved ones of the policyholder that there will be insurance to cover the funeral and other final expenses.
Being overweight might make you think that you cannot qualify for the burial insurance, which is certainly not the case. If one does not plan or have a final expense insurance policy for their family members can be a costly mistake that could end up leaving them with massive debt from burial expenses. Weight is obviously one of the factors that can affect the payment rates of your burial insurance.
Burial insurance lowdown when you are overweight
The majority of the burial insurance companies have some sort of height to weight ratio guideline. In addition to that, there are a few companies that have no height to weight limits, no matter what the condition is. When we look at these aspects, the outlook becomes promising even for obese people.
Most of the burial insurance plans have an extremely liberal height to weight limitation. Most of these companies accept applicants that are severely overweight. Even if you exceed the limitation, there are some carriers that have no limits at all.
The actual reality is that being overweight will almost never force you to endure a waiting period on your policy or pay an increased amount on premium. This must be kept in mind that no matter how much you weigh, you will not have to take a physical or medical exam. No one will come to your home and weight you. With the final expense life insurance, there are only health-related questions.
If you are overweight at present, you can at least make a start to the path to correct it, considering how it can affect your health. You would not be required to lose weight to secure the most affordable funeral insurance. Even if you are overweight, obese, or morbidly obese, you can be taken care of by the company.
Underwriting for weight issues
First of all, this has to be kept in mind that overweight contributes greatly to diabetic and heart-related issues in many ways. Those are actually separate issues that have their own impact individually on the burial insurance plans.
Build a chart
A build chart is a life insurance guideline that dictates the maximums and minimums of weight according to each height. Take an example that if you are 5’1″, your weight limit will be lower than somebody who has a height of 5’5″. The build chart is different for every insurance company, and there are some carriers that have no build chart at all.
The burial insurance companies with build charts usually have very lenient standards. This means that they allow their applicants to be overweight greatly without any kind of penalty. One thing that will blow your mind is that there are actually some final expense insurance companies that actually have no build chart at all. Therefore, with these companies, you can weigh literally any amount. The reason is quite simple that they do not care about your weight.
How weight impacts life insurance rates
The life insurance companies determine the rating category that you fall into, and thus the prices that you qualify for is based upon a build chart that is similar to BMI calculation. The available rating categories are:
This category is basically reserved for the people who are in excellent health with no history of any sort of medical issue. If you are over the ideal weight for your height by more than a few pounds, then you are most likely not to receive this rating.
If you had a minor issue or have a family history of some type of medical condition, but otherwise you are in great health, then there are many chances that you will qualify for the preferred rating. Often there is a preferred category for smokers that would have qualified for the best rates except for their usage of tobacco.
The standard plus health class mostly includes the individuals that are in good health but have a negative family history or a single condition that exempts them from the qualification for the preferred rating.
This category is for the individuals of average health that may have a couple of issues that are common but manageable like blood pressure or high level of cholesterol. There is also a standard rating for smokers. You have to keep in mind that if you are a little more overweight, and if you are obese, then that rating you are likely to receive is standard.
Why life insurance companies have BMI requirements
The life insurance companies set rates that are based upon how they determine risk factors in an applicant, or how likely the policyholder is to pass away during the term of the policy. There are various conditions that are linked to obesity increase the risk of mortality like:
High blood pressure
Fatty liver disease
Even if you have not developed any of these conditions yet, the insurance company will not offer you a preferred rating if you happen to fall outside their weight limits, because a high Body Mass Index (BMI) increases the chances of contracting a medical issue at later age.
A life insurance policy can be extended for many years or even the entire lifetime of the policyholder, and the insurer can’t adjust the premiums. Therefore, they need to determine the risk based on the current information of the applicant.
How to get the best burial insurance when you are overweight
There will be a number of questions that will be asked from you about your health and lifestyle, and the insurance company will typically confirm your answers that are based upon the physician’s records and medical exam. Though it is necessary that you should be honest, one of the simplest ways to get the best life insurance rates is to include all relevant information that is related to your health.
You are likely to qualify for a good life insurance rating if you adhere to a consistent diet and exercise program. Other than that, you get yourself monitored by your doctor on a regular basis and have no issues that are related to your weight.
If one assumes that the only issue in your application is you being overweight, often you will still qualify for the best life insurance rates. The applicants that even have a high BMI and are placed in the obese category can get a good rating. Usually, it is weight-related issues like if you have diabetes or a family history of heart attacks, which will cause you to get a low rating.
Weight-related questions in the life insurance application
Present weight and height
It is preferred to be honest about your build, but you have to make sure to include any other information that is relevant, e.g., if you have a high BMI but particularly low body fat percentage, the insurance company may give you credits and improve your rating.
Changes in weight in the past year
A crash diet is something that could help you get the best life insurance rating, as you will only be credited with half of any recent weight loss, and the insurers get concerned about the sudden changes in your weight. If you have started exercising or dieting that has caused you to lose your weight, it is preferred to disclose this in your application even if the insurance company doesn’t ask about it.
The nonsmoker has to pay a higher life insurance rate, particularly if he/she is overweight and is not able to qualify for the preferred tobacco rating.
Last doctor’s appointment
If the applicant is not under the regular care of a physician, this could hurt the chances of receiving the best ratings, as obesity is related to other health issues. The life insurance companies would like to know whether the applicant is regularly monitored for the complications that could possibly arise.
Any other health or mobility issues related to weight
If the applicant has any sort of trouble with mobility or had medical issues in the past of being obese, it is highly likely that the applicant would not qualify for the best life insurance rates.
Be honest about your weight in a life insurance application
Your weight actually matters when you want to get a very good insurance rate. Mostly the insurance policy doesn’t have a requirement of the medical exam but expects total honesty when you are filling a health questionnaire. It depends on your weight; this could certainly help you to get a lower rate.
Even overweight people can get a better and cheaper life insurance weight by revealing their real measurements. Therefore, it is essential for the obese person to ensure that real and true information is given to the insurance representative so that they can recommend you the best possible policy.
Any misinformation regarding your height and weight can massively affect the cost of your burial insurance policy. Besides this, honesty is a trait that can save you money and get the best available policy in the market that is based on your weight.
If your death occurs in the first two years of the policy, the insurance company has the right to contest the death claim. This means that they will review the health records to assure that your answers match up with your doctor’s medical records. Lying on the application could cause the policy to be canceled.
Get an insurance representative
With various insurance companies to choose from and the representatives that are competing for business, it is very important for you to get the policy that is best suited for the current health and weight conditions that you have.
The best option among all can be working with an individual insurance agent who basically isn’t attached to one company. Such an agent may bring a lot of advantages that include shopping for so many different insurance companies on your behalf and making comparisons so that you can get the best deal among the best burial insurance policies that are available in the market.
These agents can also help in recommending the best available funeral trusts that directly pay the burial expenses to the funeral home that is selected by you. In this way, they are able to protect your life insurance altogether. Other than that, the agents can solely focus on the individual needs that can protect you and your family members in case of death.
Avoid waiting for a better insurance rate
It has been noticed by several insurance agents that many overweight clients die while waiting for a better insurance rate that suits them. There were some clients that never picked a life or burial insurance because they thought the current policy isn’t favorable for them at all.
Often times, the people tell themselves that they will lose weight so that they can qualify for a better-priced policy. One has to keep this thing in mind that this doesn’t always happen. After all, we are human beings and may not be able to achieve our fitness goals.
It is therefore recommended to take the best burial insurance policy so that you will be able to avoid the gamble with the future of your family members or the loved ones. This will ensure you spend the rest of your life peacefully once your insurance plan is in place. Compare us with Globe Life Insurance or Colonial Penn. The average cost of a funeral is approximately $8500.00.
Hi, I’m Mitch Winstead with Advanced Mutual Group. I have been helping people with burial insurance for over 20 years. We have top rated carriers with the best rates. We have Mutual of Omaha burial insurance and AIG burial insurance. All of our policies are state-regulated. If you have questions about this article or would like a quote with no obligations, please call our office today toll-free at 1-866-598-8170. Or our email address is firstname.lastname@example.org
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