Whole Life Insurance For the Morbidly Obese

Are you overweight and looking for life insurance? Have you been declined for life insurance because of your weight?

We at Hi BMI can help you find the right policy that fits the bill and enough to cover you and your family’s needs.

While you might be hearing countless rumors that having a high BMI can cost you twice, even thrice, the amount paid by healthy individuals- there are so many ways to avoid costly premiums. Other people turn to purchasing a term life insurance, known to be the most affordable of all life insurance policies.

Are you an individual who wants to create a better investment for your loved ones?

You might want to consider purchasing a whole life insurance.

Here’s why:

1. Your Family Is Secured, No Matter What

If you exceeded the expected life span and lived up to 108 years old- you won’t have to worry!

You will stay covered for as long as you are living. The best part of whole life insurance is having a death benefit that comes in payables, either through lump sum or installment. This way, your family is secured to receive money after you pass away.

This way, you will not have to worry about major debts that could possibly be handed down to your offsprings. Whole life insurance might be enough to pay off the remainder of your huge debts from educational loans, auto loans, credit debt, and even your mortgage.


2. You Grow Your Money Every Year Without Moving  A Muscle

As you pay your premium every year, cash value starts to accumulate. This cash value grows as more and more years count. You can either withdraw this amount and use it for whatever purpose you intend, and you would not have to pay huge interests before you could return the borrowed amount.


3. Dividends Paid To The Insured Are NOT Subject to TAX- YES!

Dividends are not guaranteed. However, there are hundreds of credible life insurance carriers out there that have been operating for more than a century. They have paid out dividends to different policy owners every single year.  Though the amount of the dividend will vary due to different factors, it will all boil down to how much profit did the life insurance company made. These dividends paid out to policy- owners are of course, not taxable.


4. All-Time Access To Your Cash Value

Whole life policies let you access your money at any time you need it, no questions asked. This a huge benefit compared to the 401(k)s and IRAs which will put you through a long, difficult process of touching your cash before your retirement. Whole life insurance lets you get money anytime you need it, without applying for a loan and getting high interests.

Also, whole life insurance policies do not penalize you if you borrowed funds and are not able to pay it back on time. Life insurance carriers usually just add up to your premium once you have withdrawn money from your policy.


5. You Can Use The Cash for Whatever You Need

You can accelerate your wealth, leave an inheritance, save thousands of dollars avoiding tax, pay-off your mortgages or any huge debts. Whole life insurance can even help you maintain the expenses and upkeep of your real estate.


Once whole life insurance is in place, you are now covered for your entire life. You can even add an accelerated death benefit rider for only a fraction of the cost- or for no free. This will give you access to a big chunk of your death benefit during your entire life if you happen to develop any terminal or chronic disease.


6. Death Benefits

If you are the breadwinner of your family, this is the most important reason why you should get a whole life insurance.

Do you have an income-dependent spouse or anyone in your family is financially-dependent? Then you have more reasons to purchase life insurance.

Imagine if you die today, would your family be able to keep your family home? Will they have enough income to get by with their everyday lives.

When you die, the sum of money your policy accumulated will be paid out to your beneficiaries.

This way, if your family is looking to sell your real estate- they will have enough time to look for a credible buyer. This does not risk them to rush into a sale and market your home for a ”bargain” price.


If you have a business, your family can have all the freedom to look for a credible successor. Having your death benefit covering their expenses while they study the next steps to take is another crucial importance of your life insurance.


7. Most Whole Life Policies Are Much Considerate on Your BMI

No, sub-standard life insurance policies are not your last option. In fact, more and more life insurance carriers are even more ‘’considerate’’ on your height and weight for whole life insurance. Whole life insurance is easier to qualify for than a term or universal life insurance policy. Truth is, some carriers do not even ask about your height and weight at all!

While you might be hearing that having a high BMI can cost you more than normal-weighing individuals, there are a lot of carriers out there that can have you insured within your budget.

After all, it’s not entirely about your BMI. Life insurance carriers will also assess your health class according to your lifestyle and your pre-existing medical conditions.

Not all life insurance providers use the same chart to classify your BMI into different health ratings, so don’t panic.


We at Hi BMI specialize in high-risk cases, so if you’re overweight and dealing with a pre-existing medical condition- you’re in good hands.


BMI and Health Rating- How Do I Know My Health Class?

If you are diagnosed to be overweight, you might be eligible for the four health classes depending on the life insurance company you are applying for an insurance from. These classes are named Plus, Preferred Plus, Standard and Standard Plus.  If you have any pre-existing medical condition or any terminal illness that can be a red flag to life insurance companies, you might be classified to the Substandard class.

Preferred Plus-  Also coined the preferred select or preferred elite, this class is the highest kind of all health classes. People that have optimal health belong in this health class. If you are an individual with excellent well-being and the right height-and-weight ratio, you might be classified into this health class. The reward for having peak health and a healthy, non-sedentary lifestyle are the cheapest amount of premium for any coverage compared to all health classes.

Preferred- If you are still healthy, and still a little above or below the ideal BMI range, here is where you belong. People in the preferred class have minor issues such as small increases on their blood glucose, blood pressure  or cholesterol levels. However, these small issues are highly manageable with medications and good lifestyle.

Standard Plus-  This is given to individuals with relatively good health and with a good lifestyle. There may be some factors while individuals are not classified to the preferred categories such as a family history of hypertension or excessive weight.

Standard- Individuals that are classified to the standard health class are of normal life expectancy and with fair health conditions. However, the might have fluctuating levels of blood pressure and blood sugars.


Sub-Standard Rates

If you are found to be overweight and don’t fit in into any of these categories, you can still get insured into the sub-standard health ratings. It’s a common misconception that this type of health class is more costly than the four health classes, but it is definitely a win for you. This type of health class does not require a medical exam!

Are you diagnosed with any terminal illness? Do you have diabetes or hypertension? Any history of heart attack or stroke? Substandard health classes cater to high-risk individuals that have been diagnosed with life-threatening illnesses. These also include individuals with engaging in hazardous hobbies, working in high-risk occupations or those that have smoking habits.

In case an applicant for life insurance receive a sub-standard rating because of any conditions such as a dangerous hobby or occupation, the insurers might reconsider your health class after it is proven that you have stopped engaging on these high-risk activities. In case the applicant lies about stopping their engagement to these acts, it would hamper the life insurance carrier’s decision to remove them from the sub-standard rating.


The Real Cost of Life Insurance

There’s been a rumor that’s been going on for quite some time now- people that are overweight and obese are doomed to pay huge premiums and consistently get declined. Truth is, we can help you find the right insurance policy, without you going through the nitty-gritty. We shop for the life insurance policy that fits your budget and covers your needs.

Most people overestimate the cost of life insurance. This stigma stops them from getting insured, leaving hundreds, even thousands of families financially unstable after their breadwinner’s death.

The Insurance Barometer Study revealed daunting truths about the lack of education regarding the life insurance cost. Millenials overestimate the cost of life insurance by 213% and GenXers by 119%.

On a serious note, 43% of the respondents said that they would feel a huge financial impact within 6 months if their primary wage-earner dies.

If you want to protect your family from financial turmoil, and you want them to live a comfortable life just as you were still existing, the best time to purchase life insurance is NOW.

I Am Ready To Get Insured, How Do I Start?

It all starts with finding the right independent agent to work with. Fill up our free online quote and we will get in touch with you shortly.

Getting insured even if you’re overweight does not have to cost you the earth. If you want to cut costs and save money, please read on.

Keep in mind that classifying to a health class is not entirely about BMI. The life insurance provider you are applying for will be reviewing your interview. They will then compare it with your medical examination results to calculate how much your premiums would be. Applying a few changes to your eating habits, lifestyle, sleeping patterns and exercises can definitely help reduce the cost of your premium.


Eliminate your smoking habits-  Do this not because it’s fancy, but to reduce the chances of raising your blood pressure. If you are a smoker, you are bound to pay higher rates upon purchasing life insurance. Smokers actually pay twice much more than other insured individuals enjoying exactly the same premium.

This is because smoking increases your blood pressure that can later lead to complications. Lung cancer, COPD, emphysema, and impending heart diseases are expected. Smokers are likely to have a plaque buildup on their arteries called atherosclerosis that can lead to heart attack and stroke.

Make it a habit to plan out your diet- Not plan out the next fast-food chain you’ll chow down a quarter pounder. Nah-ah. Broccoli, kale, radish, chard, basil, and salad greens are key to keeping your diet free from the horrors of increased glucose and blood pressure. Stay away from fatty, sugary and oily diets for obvious reasons. You might want to cut back on caffeine and alcohol 2-3 weeks before your medical examination. This is because alcohol and caffeine raise your blood pressure.

Avoid huge yet sudden weight loss. Let’s say you discovered a powerful weight loss strategy that flushed a ton of weight and you’ve lost 12 pounds in less than a year. Sounds inviting, doesn’t it? Once your life insurance carrier finds out that you have shed that amount of weight within a span of a year, they might add back half of the weight you have lost.

Even if you’re 190 pounds and lost 10, and shrank down to 180, your life insurance application will have it written to 185 pounds.

A good rule of thumb is to lose a few pounds about 2-3 weeks before the date of your medical examination.This way, it would not be suspicious as to how you lost so much weight. Be sure to keep an eye out on your calorie intake so you can keep your cholesterol and blood pressure levels at bay. Remember, you do not want them to be really high by the day of your medical exam.

Be completely honest when asked on your medical examination interview. You can’t get away with lying, and covering up about your real health conditions will only lead to an even more expensive health class. If you have been diagnosed with a pre-existing illness, be sure to admit what your current health state is. Bring with you your physician’s most updated prescription letters and your previous medical records.  Discrepancies in your statements when compared to the results of your life insurance medical exam can cause you higher rates. These can also lead to a decline in your application.

Get guidance from an independent agent. There are thousands of life insurance companies out there promising you a bed of roses. How do you know which of these companies deserve your trust? Working with independent agents that know the life insurance industry like their own backyard can help you cut costs and save thousands of dollars. Independent agents like Hi BMI is not tied up to one life insurance company and sells you a product coming directly from that carrier. We have connections with the leading life insurance companies making us able to shop around for the best life insurance provider and the best policy for you.  

Not to toot our own horn, but we hate taking advantage of people that are in need for our personal interests. We care for you and your family and desire nothing but the best.