The Effect of Obesity on Life Insurance

February 9th, 2010 Posted in Ski Holiday Insurance

Much like the rest of the world, Obesity rates in Canada are firmly increasing. In 2004, the Canadian Community Health Survey reported that 23.1% of people 18 and older (an estimated 5.5 million adults) had a Body Mass Index of 30 or greater, making them obese. Just beneath the obesity level but still heavier than average was another 8.6 million Canadians.

With so many more Canadians facing the reality of Obesity and the complications that go with it, such as high blood pressure, diabetes and coronary heart disease, this new reality can have a direct impact on their classification and their ability to get life insurance. Life insurance comes in four categories:

Preferred Rates: For persons in very good health and with an excellent family health history.
Standard Rates: The normal rate that an person is commonly classified.
Rated/Substandard: Given to applicants who have a greater risk level.
Declined: No insurance given.

Standard cover would be granted to a healthy man who weighed 250lbs and had a height of 5′9″ – this is established on an in-house inquiry completed by some of the life insurance companies.

When deciding the category a person comes under, insurance companies look at the risk variables associated with health problems that are often part and parcel of obesity. If you are obese find yourself a decent broker as they are able to help procure a unbiased premium for you.

Lots of insurance companies, ironically enough, use the same height and weight tables for males and females, so a covering letter describing lifestyle issues or other variables can really help. Simplified Issue Life Insurance is another choice for obese customers. These policies have no medical examinations and hardly any health questions. With an improvement in costing options over the last few years they are not as poor value as before.

For more information, visit our instant life insurance quote calculator.