Diagnosed to be overweight or thinking that you are?

There might be an alarming news out there. That, the heavier you weigh, the pricier your premiums will be.

BMI does affect the price of your premium, but each company differs when it comes to how they assign you to your respective health class. We’ve helped hundreds of overweight, even obese women, to get insured. There’s no doubt we can help you get insured too. We at Hi BMI can help you find the perfect policy that fits your needs and your budget. It’s not the end of the world if you are diagnosed to be overweight or obese.

How Your BMI Affects Your Health Rating

Purchasing life insurance for overweight women is almost just as the same process with overweight men. The built of both genders differ, but companies use different charts to classify individuals. Meaning, if you are not approved by a carrier, it is highly likely that you will be approved in another one.

Both genders undergo medical examinations to assess their health ratings.

If you are overweight, you might be classified into four health ratings. These are Preferred Plus, Standard Plus, Standard and Preferred. People without serious illness can still be classified into these health ratings. However, if you have pre-existing health conditions such as hypertension, high cholesterol, diabetes or any terminal illness present in your medical history- you might receive another health rating.

Preferred is given to people at the peak of their health. These people might have minor issues such as a slight increase in their blood cholesterol or blood sugar levels. These people happen to be non-smokers as well.

Standard Plus is rated to individuals in good health, but may have some isolated conditions which deterred them from being categorized to the preferred class.

Standard goes to people in average health. These individuals have a normal life expectancy. Minor health issues such as varying blood pressure and glucose levels can be observed. However, any serious illness is not visible in these individuals.

Sub-standard rates are given to obese individuals. Overweight women who have serious health conditions are also classified into this rating. Sub-standard rates might be the most costly of all ratings. The good news is, we can shop among top-rated life insurance carriers to find the policy and premium that fits your need. If you have hypertension or any history of pre-diabetes, you might belong to this rating. If you have complicated health histories from your family or you are diagnosed with a terminal illness, you belong to this class. Moreover, if you have a bad driving history, hazardous occupation, dangerous hobbies, alcohol dependence, and smoking habits- you will be classified to the sub-standard rating.

But, if you are classified to substandard rating due to your high-risk occupation or any extreme hobby, insurers can still reconsider your application if you have entirely stopped engaging in these hazardous activities.  However, if the insurer finds out that you have a chronic health issue, this rating might not be removed.

But, Why Should I Get Life Insurance?

Life insurance for overweight women is a must nowadays. While most men are the providers for their family, your life insurance can help your beneficiaries to become financially sound at the event of your death. Your beneficiaries will have fewer problems in making both ends meet after receiving a death benefit.

To Cover Up For Income Loss

If you are a breadwinner of the family, or you have an income-dependent family member, a term life insurance can help your beneficiaries replace lost income. At the event of your death, how much money does your family need to survive and live a comfortable life like it is when you were still their provider? If you are the sole provider of your family, this becomes an urgent need.

For younger people who have more working years, these people tend to have better earning potential loss at the event of passing away at an early age.  If you are around your late twenties to early forties, it is a must for you to replace your income 7-12 years of your current salary.

To Pay Off Significant Debts

To pay off any significant debt is the second top reason why you should get a life insurance. If you don’t want to your debts to outlive you and be passed to your loved ones, getting a term or universal life insurance is a great option. After all, no one wants their beneficiaries to inherit debt instead of a fortune, right?

If you have an existing mortgage, how much would it cost to pay off the remainder completely? Would your family be able to keep your home at the event of you passing away? If your answer is a no, it’s best to get life insurance to back them up. They get to keep the family home and carry on with their lives.

Do you have an existing debt that will end at some point? Be sure to match the term duration to this timeline to help you save even more. If you bought your dream home with a 20-year mortgage instead of a 30-year plan, you can cut cost on your premium by getting a 20-year policy.

To Avoid Huge Taxes

If you want to avoid hefty estate taxes, purchasing a life insurance will help you pass dollars along without tax deterrence. Business and real estate need to be financed to make up for the regular expenses and the overall upkeep. Of course, it will take months for your real estate to be sold. It will also take months, even years, for your thriving business to be acquired.

Having a whole life insurance policy that builds up cash value and can be paid out to your beneficiary helps them in this situation. While the paid out death benefit helps them get by with the expenses, they can have enough time to look for a credible buyer and a trustworthy business successor. This way, your family would not have to rush into a sale, only to come up with a very low price.

I Want To Get Insured. Can I Still Get Affordable Rates Even If I Am Overweight?

With Hi BMI, it’s always a YES. Get a quote from us and we’ll take you by the hand every step of the way. Not all life insurance companies use entirely the same height and weight ratios to determine your rate class. This is why it’s very important to have an independent agent to ”shop” for you and help you find the best provider. With Hi BMI’s access to thousands of life insurance companies, it’s easiest to find you the best policies with premiums that fit your ideal rate.

If you’ve been denied by other life insurance companies due to excess weight or just can’t find a policy that suits your needs, Hi BMI can help you find the right one- for the best price!

Here’s how you can get the best rates and get approved for life insurance.

 

1. Be Honest, Always

During your interview, you will be asked series of questions including your personal information, your medical history and your pre-existing conditions. You will also be asked about your lifestyle and the medications you are currently taking. Be sure to be ll transparent about your medical history. Lying in this stage will only lead to higher premiums due to discrepancies on your medical exam. In most cases, an applicant gets declined due to discrepancies.

2.  Beware of Sudden Weight Loss

Once your life insurance carrier finds out that you have lost 10 pounds or more for the past 12 months, most life insurance carriers will put back half of the weight you’ve lost.

This will classify you to a health class your previous weight sits.

For example, you weigh around 160 pounds about 12 months ago. At the event of your medical examination, your medical examiner finds out that you’ve lost 14 pounds. The life insurance carrier will put back 7 pounds and put you into the health class that corresponds to your weight. It is alright to lose pounds 2-3 weeks before your medical examination. Be sure to closely monitor your calorie intake. This way, you can avoid increases on your cholesterol and blood pressure levels.

3. Prepare Yourself For Your Medical Exam

Keep in mind that you will need to do fasting before the examination. Ingest nothing approximately 8-12 hours before the scheduled time. Weeks before your medical examination arrives, be sure to eat meals that would not raise your blood glucose and blood pressure. Getting specific diets rich in vegetables and grains would be the most ideal.

If you have a smoking habit, best to refrain from smoking weeks before the examination date. Better yet, quit smoking for good. Stay away from liquor about 2-3 before the scheduled examination date. Do not do exercises on the day of your medical exam as this increases your heart rate. Make sure to get enough sleep the night before.

4. Work With A Trustworthy Independent Agent

If you want to cut costs, working with an independent agent that’s not tied up with any life insurance company is the best choice. Independent agents like Hi BMI will not market you any product of their own and expect to get a ridiculous amount of commissions for a closed deal.

We at Hi BMI can shop your applications to top-rated life insurance carriers for only a fraction of the cost. We will help you find the best policy that fits your budget and your coverage need.

5. Get Your Life Insurance NOW

If you really want to save costs and keep yourself away from pricey premiums, the perfect time to get insured is now.

Premium rates increase as you age. The life insurance policy you might be purchasing in your 60’s might exactly be the same as the policy you could have purchased today. Purchasing a life insurance while you are young can help you save thousands of cash. Avoid putting off your plan to get insured for the hopes of getting a better rate. This mostly results in clients passing away without the chance of ever being insured. This leaves their family financially incapable of keeping their family home and making both ends meet.

Do not risk your family. Purchase life insurance now and continue to work on your goal to shed more weight for you to be approved of a better rate.

I Can’t Decide What Life Insurance Policy Should I Get

Don’t worry, we will be narrowing it down for you.

TERM LIFE INSURANCE POLICY

Do you have an income dependent spouse? Are any of your children financially dependent? If your answer is yes, then your first reason to get a life insurance is to cover up for income loss when you pass away.

Term life insurance policy gives you pure death benefit protection for a specific period of time around 10- 30 years, depending on the duration you chose. The specific time is the ‘’term’’ of the policy. Once your term policy ends, the life insurance policy automatically renews every year. Most term life insurance policies even allow the insured to renew until such age of 95!

A decreasing term life insurance has the death benefit reducing over time while premiums remain the same.

A level term life insurance, on the other hand, offers fixed premiums and a fixed death benefit only for the term of the coverage. Level term life insurance offers a fixed death benefit with the premium increases every five years.

Term Life Insurance policy is the best if you are still raising kids staying in your family home. Term life insurance is the cheapest policy you can purchase out there. However, this does not build up in cash value. Once your beneficiaries, or your children, has grown to be financially-independent individuals- you can always exercise your policy’s convertibility feature.

Most life insurance carriers have this conversion option rider allowing the insured to convert to a permanent policy without going through the application and medical examination stages. The conversion option will turn your term life insurance into a whole life or universal life policy, The premium will be increasing, but your health class stays the same when you were insured.

If you are still paying off a remainder of your mortgage, or any huge debt such as an educational loan or credit debt, term policy works very well in these cases. How long will it take for you to entirely pay off the remainder of this debt? If your mortgage will be completely cleared off for the next 20 years, then it’s best to get a 20-year term policy to cover up for this debt. Keep in mind that once you surrender the term policy, there will no longer be any return on your investment. The good thing about term life insurance policies is their fixed premiums.

PERMANENT LIFE INSURANCE POLICY

If you are looking for long-term benefits, a decent burial, an ability to keep your family’s home and leave an inheritance to your offsprings- this is the real deal. This type of policy offers guaranteed fixed premiums, guaranteed cash buildup, and guaranteed protection for as long as you live. While this policy is much expensive than term life insurance policies, it has bigger benefits.

Whole life insurance lets the insured borrow cash against the policy. Be careful not to exhaust your ability to borrow from your cash reserves as it will diminish your cash value policy, The life insurance carrier will charge you interest on the money you are lending.

In case you pass away, permanent life insurance policies can shoulder your funeral expenses. Permanent life insurance can protect your estate and your business as your family looks for a potential buyer or a business successor. With permanent life insurance policy, you can pass along dollars to your beneficiaries without tax. This way, you can leave an inheritance to your beneficiaries, donate to a charity or pay off large debts without the costly tax! If you are the family breadwinner, and you have income-dependent family members, a permanent policy can have them financially sound even after your death.

Don’t risk your family, ever. Get insured now while you are youngest as you can be. Secure your family’s future and sleep soundly at night, knowing that they will be in good hands by the time you pass away. Leave a legacy with the help of Hi BMI. Get in touch with us now.