Day: May 20, 2021
20 May, 2021 | armandhammeresse | No Comments
There’s a very simple reason why life insurance for overweight individuals usually costs so much more than comparable policies for people whose weight isn’t too outrageous. On top of this, there can be certain restrictions by some life insurance providers that will stop an overweight person from obtaining a policy even in normal situations. Some companies like Harris life insurance actually have guidelines that a person must lose a certain amount of pounds to qualify for a life policy. If you fall under this category, it’s time to call your agent and see what kind of extra coverage you might get. You may find that you are in fact eligible for much more coverage than you realize.
Is Life Insurance For Overweight Individuals Really Worth It?
The reason why some companies underwrite these policies for overweight people is because they assume that the person is more prone to serious illness or death because of their excess weight. It’s a risk that the company feels they have to take in order to protect themselves from paying out too much if the person became seriously ill or even died as a result of being overweight. This is where having a weight-loss surgeon is extremely helpful. He or she will work with the underwriter to create a plan that will push the premium rates down in order to keep the company solvent, but at the same time allow you to receive the coverage that you need to stay healthy.
One interesting scenario that shows why having a surgeon to perform a procedure to get your weight loss on track can save you money in the long run is if you are in a high risk group to begin with. If you have certain medical conditions such as diabetes or heart problems, you could easily be declined life insurance if you are considered a risky risk. In cases such as these, having a quick weight loss followed by a check up by a qualified doctor could be all it takes to get approved for a policy after having been refused previously.