During the application process, the company is going to look at dozens of different factors to decide how much they are going to charge you for life insurance, or if they will accept your application. One of the biggest factors that the company is going to look at is your weight. If you’re overweight, then you’ll be considered a “high-risk” applicant, and that’s going to make it more difficult to find affordable life insurance.
If you’re overweight and/or obese, you’re probably having a hard time finding affordable life insurance rates. If this is the case, we’ve written this article just for you.
Did you know that every life insurance company has different height and weight charts?
It’s true – while one company might offer you a Standard health classification, another company might offer you a health classification that would double your rates! Some insurance companies are going to use a BMI chart. Other companies have created their own weight chart.
It’s important to survey every major carrier to see who would offer the best rates based on YOUR build.
Sounds like a lot of work, right?
It’s not if you contact us. We have height and weight software that scans through 100+ life insurance companies build guidelines. From there, it provides us with the best health classification and rates. Within 30 seconds we can provide you with the cheapest life insurance rates based off of YOUR height and weight.
Regardless if you want a $10,000 policy or a million dollar life insurance policy, we can help you find it.
After we determine the top companies based on your build (height and weight), we’ll have to factor in any health issues if you have any, such as diabetes. They’ll also look at your other health and lifestyle issues differently.
Diabetes is a common condition for those who are overweight. If you’ve been diagnosed, it doesn’t eliminate you from shopping for insurance. There are still options for you.
At Rootfin, this is our expertise. We’ve done it for years. Getting the best life insurance rates for overweight or obese people comes down factoring your build AND your health issues.
Life Insurance Charts if you’re Overweight or Obese
Our instant life insurance quote engine actually asks for your height and weight and factors it into your quotes.
We suggest trying this right now if you don’t have any major health issues. If it doesn’t provide you a quote, then you’ll most likely be in a substandard health classification and need to speak with us for accurate quotes.
If you’d like to “ballpark” your rates without speaking with an agent, here’s how you can do that. See where your height and weight fits in on this chart:
An example of how to use the chart above: If you’re 5’10 308 lbs, you would qualify for “Table D” rates. If you’re 6’2 370 lbs, you would qualify for “Table F”.
Table A: + 25%
Table B: + 50%
Table C: + 75%
Table D: +100% (2x the Standard rates)
Table E: + 125%
Table F: + 150%
Table G: + 175%
Table H: + 200% (3x the Standard rates)
**This is to give you ballpark rates. The build chart is for 1 of our more lenient companies on build and the Table Ratings above don’t apply to every company.
Then run “Standard” or “Regular” rates on our life insurance quote engine (they’re the same health classification).
Once you get those quotes, then add the Table Ratings in there. Example:
5’10 295 lbs with “Standard/Regular” quotes for $100/mo.
– This would put you at a “Table C” on the build chart above or + 75%
– $100 x 75% = $75
– Add that $75 to the $100/mo. quote and your premiums would be $175/mo.
If this is confusing or you want accurate life insurance rates (as opposed to ballpark rates), let us know.
No Medical Exam Life Insurance for Overweight People
If you want to bypass the exam, we do have a carrier that will the following height/weight limits:
5’1 257 lbs 5’9 329
5’2 266 lbs 5’10 339
5’3 274 lbs 5’11 348
5’4 283 lbs 6’0 358
5’5 292 lbs 6’1 368
5’6 301 lbs 6’2 378
5’7 310 lbs 6’3 389
5’8 319 lbs 6’4 399
This is the best height/weight charts on the market for no medical exam life insurance coverage.
This requires no medical exam, however they will look at your medical records. They’ll write 10, 15, 20 and 30 year term life insurance up to $250,000.
Like we explain in our no medical exam life insurance article, this type of coverage is a little more expensive than traditional coverage where you take the medical exam. If you’re looking for convenience and fall within the life insurance build charts above, then please give us a call and we’ll provide the rates for this company.
One advantage of these no exam life insurance policies is that you can be approved much faster than you can with a traditional insurance policy. If you apply for a traditional plan with a medical exam, you could wait several weeks, or even a month to get accepted. With a no exam life insurance policy on the other hand, you can get life insurance in a matter of days.
As I mentioned, no exam plans only allow you to get life insurance up to $250,000 with most companies, which probably won’t be enough life insurance protection. Not having enough coverage is almost as bad as not having a life insurance plan at all. Before you purchase a no exam policy, you should calculate how much insurance your family will need.
Graded and Guaranteed Issue Life Insurance Obese
If you don’t fall anywhere on the build charts above OR if you do fall somewhere on the weight charts above, but have some moderate to severe health issues – you’ll have to buy a “graded death benefit” policy. Worst case scenario would be a guaranteed issue life insurance policy.
A graded life insurance policy is a “high risk” type of policy. The difference between a graded death benefit and a traditional life insurance policy is a 2 year waiting period for benefits. Which means during the first 2 years of the policy, your beneficiaries would receive the premiums you paid into the policy PLUS interest. After 2 years, you have full coverage.
Graded death benefit policies have more lenient underwriting than the weight charts above AND they’re less expensive than a guaranteed issue life insurance policy. On top of that, there’s no medical exam – just an application to complete.
Guaranteed issue life insurance is the most expensive type of life insurance, but usually we can avoid it.
Bottom Line
Don’t let being overweight stop you from acquiring life insurance. You have options.
Also, most overweight people have to lower the amount of death benefit to work it into your budget, but some coverage is better than nothing at all.
Remember the reason you’re purchasing life insurance in the first place. If you’re ready to start the process, pick up your phone and call us today. We’ve made it so simple, you have no reason not to.
