Obesity becomes an issue when it leads many health issues including diabetes and heart issues. Furthermore, obesity also has links to many types of cancer.

These potential risks means that obesity can have an impact on an individual’s ability to obtain life insurance and potentially higher the cost of their premiums.

Life insurance companies assess various factors when assessing an application in determining the final premium, and obesity is one of them. Here’s how obesity can affect getting life insurance:

Health Questions:

Health questions are a major part of a life insurance application. During this process, the insurer asks about the applicant’s height and weight to calculate their Body Mass Index (BMI). If an applicant’s BMI falls within the obese or morbidly obese range, it may negatively impact their insurability and premium rates.

Underwriting:

Life insurance underwriters evaluate an applicant’s risk profile to determine their insurability. Obesity can be considered a risk factor, especially if it is severe, because it is associated with various health conditions such as diabetes, hypertension, heart disease, and sleep apnoea. These comorbidities can increase the likelihood of premature death.

Premium:

Premium Costs: Individuals with obesity may be charged higher premium rates than those with moderate BMI levels. In some cases, parameters determining extra premium varies from Insurer to Insurer. As specialist brokers with wide underwriting experience, we know who to apply for you to get the best possible outcome.

Improving Insurability :

If you are overweight or obese and are concerned about obtaining life insurance, you can take steps to improve your insurability. This may include losing weight, managing related health conditions, and maintaining a healthy lifestyle. We have had clients who got better rates after modifying lifestyle and improving BMI.

Gastric Sleeve/ Gastric band surgery and Obesity

Recently we see more people come to us with previous history of bariatric(stomach) surgery. It has become more popular in Ireland, as an effective measure to control obesity. Many people also opt for cheaper gastric sleeve surgery options available in international locations like Türkiye. However, Insurance companies are careful in their underwriting process for such people with surgical history. They would ask questions about last one year weight recordings, pre surgical weight and any present complications of surgery. Most of the times, there will be an extra medical loading for the applicants in view of the complications including a reversal of the obesity in some cases.

What we do as Specialist Broker?

As specialist broker, we have great understanding of underwriting limits of each insurance company. Some providers also have their restrictions from reinsurance companies, who take on partial risk from them. As your specialist broker, we work for you and negotiate for you. This includes gathering relevant medical information to provide to the life company, to get the best possible outcome.

How do we make a difference to get your life cover?

As an experienced team of specialist financial advisors, we do a detailed fact find exercise with you even before considering your insurance company. We also get a full history of your health, including any past medical information or investigations carried out in relation to your condition. With our understanding of underwriting, we successfully reduced the loading on a client with a diagnosis of hypothyroidism (condition where thyroid gland is underactive and slows down metabolism) coupled with high BMI.

Check out our testimonials:

Finally, if you have any questions in relation to this you can reach me personally on 01 582 3525 or email me at joseph@financiallife.ie

Disclaimer: The information provided in this blog post is for informational purposes only and should not be considered professional advice. It is advisable to seek expert financial advice for personalized guidance regarding life insurance.

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Finally, if you have any questions in relation to this you can reach me personally on 01 582 3525 or email me at joseph@financiallife.ie

Disclaimer: The information provided in this blog post is for informational purposes only and should not be considered professional advice. It is advisable to seek expert financial advice for personalized guidance regarding life insurance.