Life Insurers Use The Body Mass Index To Tighten The Belt On Fat
People
Overweight people are in the firing line again. Life insurance
companies are increasing premiums up to four fold for fat
people. They've always charged more for those of us who
over-eat, but during the last year the penalties have got worse.
In moves to tighten the belts further, the life insurers are
lowering the weight limits they use to categorise people. This
tougher move means that those who are merely overweight and
would have previously qualified for a standard premium, are now
penalised with higher premiums - and the premium rapidly rises
the more overweight they believe you are.
Height and weight are just two of the questions you have to
answer when you apply for life insurance. From them, the life
company calculates your Body Mass Index and if that exceeds the
limits they define as acceptable, they might ask for a doctor's
report. In bigger cases they might ask you to have a medical
examination. If this confirms that your weight is of concern,
then you can expect your premium to be loaded by at least 50%
and as much as 400% if you're really obese. Recent research
shows that around 25% of applicants will experience problems
getting life cover due to their weight. In extreme cases the
insurer will even refuse the application.
In an acknowledgement of normal middle age spread, the insurance
companies do take your age into account when deciding your
premium. They accept that people naturally tend to put weight on
as they age. If you're young and overweight, however, they'll
certainly hit you hard. So overweight and 38 will be hit much
harder than overweight and 58.
For example, a non smoking healthy man aged 35 asking for