Weight and life insurance

Mon, 30 Oct 2006

Weight and life insurance are now inextricably linked. A large waistline could up your premiums, and a tiny one could also, depending on the health risk you represent to insurers .

When it comes to most life insurance policies (including term insurance, income protection insurance and critical illness cover,) health risks mean higher premiums. For instance, overweight people represent higher risk to most insurers. According to a recent report by the Department of Health, in the year 2010 a fifth of UK adults and a third of UK children will face obesity . This is supported by figures from the Association of British Insurers (ABI) who claim that obesity is soaring every year.

This trend is reflected in health insurance and life insurance. Body Mass Index (BMI) is now a major consideration for insurers. BMI exposes fatness or thinness, and this will be reflected in premiums. BMI indicates the impact of weight on health more clearly to insurance companies . However, a high BMI doesn’t always mean obesity, and the accuracy of BMI to determine premiums is being discussed within the life insurance industry.

Industry underwriters apply an underweight or overweight rating for BMI below 18 or above 30, making premiums more expensive. The influence of weight on insurance cost, currently measured by BMI, has never been more clear.
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