Life Insurers Use The Body Mass Index To Tighten The Belt On Fat People
Below is a MRR and PLR article in category Finance -> subcategory Insurance.
Life Insurers Tighten Premiums Using BMI
Summary
Overweight individuals face increased premiums from life insurance companies, with rates rising up to fourfold in recent years. This trend comes as insurers lower the weight limits used to categorize applicants, penalizing more with higher costs.Article
Life insurance companies are increasingly targeting overweight individuals by raising premiums significantly?"sometimes up to four times higher. While they've always charged more for excess weight, recent changes have intensified the financial impact.
Stricter Weight Limits
Insurers have tightened their criteria by lowering weight limits, meaning even those previously regarded as having a standard risk due to being merely overweight now face higher premiums. The penalty increases with the degree of perceived overweight.
Calculation and Consequences
Applicants must provide height and weight details, from which the insurer calculates the Body Mass Index (BMI). If your BMI exceeds their acceptable range, they may require a doctor's report or even a medical exam. Confirmed concerns can lead to a premium increase of 50% to 400% for severe obesity. Nearly 25% of applicants encounter issues securing coverage due to weight, with some applications even being denied.
Age Considerations
Insurers recognize age-related weight gain by adjusting premiums accordingly. Younger overweight applicants, however, are subject to harsher penalties. For instance, a healthy 35-year-old non-smoker requesting a $150,000 policy might find their monthly premium jumping from $18.77 to $35 if overweight, or $47 if obese.
Growing Obesity Problem
Over the past two decades, adult obesity has surged, with over 60% of men and 50% of women now classified as overweight or obese. The trend shows no signs of reversing, and childhood obesity is also on the rise.
Understanding Your BMI
To calculate your BMI:
1. Multiply your weight in pounds by 703.
2. Divide the result by your height in inches squared.
A BMI between 18.5 and 24.9 is considered normal by insurers; above 25 is overweight, and over 30 is obese.
BMI Examples of Public Figures
Underweight
- Paula Radcliffe (Marathon Runner) - 18.0
- Victoria Beckham - 17.0
- Jennifer Aniston - 17.5
Normal Weight
- Alan Shearer (Footballer) - 24.4
- Davina McCall (TV Presenter) - 20.8
- Cilla Black (Presenter) - 20.7
Overweight
- Russell Crowe (Actor) - 25.6
- Ann Widdecombe (MP) - 25.1
- Charlie Dimmock (Gardening Presenter) - 26.0
Obese
- Norman Schwarzkopf (US General) - 30.5
- Michelle McManus (Presenter) - 34.4
- Dawn French (Comedian) - 43.8
Understanding how BMI affects insurance premiums can help individuals make informed decisions about their health and financial planning.
You can find the original non-AI version of this article here: Life Insurers Use The Body Mass Index To Tighten The Belt On Fat People.
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