Arranging life insurance, critical illness or income protection cover when you are substantially overweight or obese can be tricky. It can often result in the premium you were originally quoted being increased (loaded) once the application has been assessed. In some cases, the application can be declined.

What is a ‘loading’?

A loading may be applied to an offer an insurer issues after assessing an application and completing their underwriting. This process may include them writing to the GP for a medical report, or asking you to attend a short medical assessment (which the insurer pays for).

The purpose of a loading is to reflect the additional risk the insurer assesses they may be taking on (compared to someone with a normal BMI / no medical declarations).

In some cases, insurers will add a loading of 50% with a BMI (body mass index) as low as 31. The loading can increase above 50% if there are other medical factors to take into account eg diabetes.

This means the premium you were originally quoted will be increased by 50%. For example a quote for £20 a month ends up as an (underwritten) offer of £30 a month.

The higher the BMI the higher the loading (we have seen loadings of 200% or more). This means a £20 a month premium could end up being £60 a month.

Some insurers will decline an application if the BMI is 40 or more.

How do insurers assess our BMI (Body Mass Index)?

Whether it seems fair or not, all Insurance Providers will take into account your BMI . The BMI calculation takes into account, your height, your weight and your age. To calculate your BMI visit the NHS BMI calculator.

A healthy BMI (Body Mass Index) is between 18.5 and 25. Someone is classed as obese if they have a Body Mass Index (BMI) of 30 and above.

According to the NHS, if your BMI is outside of the healthy range, you are at a higher risk of suffering from serious health problems such as Type 2 Diabetes, Heart Disease and many forms of Cancer. *

“It is estimated that 1 in 4 adults are obese in the UK”.* 

Most ‘high street’ providers would decline application for life cover if someone has a BMI of 45 or over.

*Source: The New England Journal of Medicine July 2017 – available to read on the NHS Choices website

We can help you get cover if you have a BMI of up to 55.

We are now able to help applicants with a BMI of up 55 secure cover, albeit with an increased premium. If you contact us, we will carry out thorough research and will provide you with an accurate estimate of the final premium, before you make an application. This will help you (and us) to avoid wasting time, and will help you to avoid any nasty shocks later on.

Please note that the premiums provided are indicative only and based on this specific case study/ example, which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted.

Next Steps

Whilst you are welcome to get a quote on-line we would recommend you talk to one of our advisers.

Any quote that your adviser provides you with will take into account to your circumstances, your BMI, your medical history, as well as your budget!

An on-line quote is just that – a quote – it isn’t a definite offer of cover. What really matters is the premium you are offered, after your application has been assessed.

Call Freephone 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00.

Please feel free to read our Independent client reviews, or read about the team at Future Proof.

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    Interested in some case studies?

    Do you suffer with a medical condition and concerned you can’t secure Life Insurance?  Please view our ‘Medical Guides’ for further information.

    Whilst we will make every endeavour to help someone to arrange insurance, there is no guarantee of success.  All applications are subject to underwriting.

    *NHS choices 

     

    • Case Study

      We were recently contacted by Joe, who is a 50 year old male with a BMI of 34. He was looking for £100,000 of life cover, over a 20 year term, in order to ensure his children are not left in financial difficulty, should he pass away before he is 70. Joe now has cover in place and pays £17.82 a month with Insurer A who did not include an increase from the original quoted premium. However, if Joe applied to Insurer B, there would have been an increase in the premium due to his high BMI, meaning the monthly cost would have been £31.70.

      This shows the importance of receiving expert advice and ensuring that you are applying to the most appropriate insurance provider.

      Please note that the premiums provided are indicative only and based on this specific example, which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted. Premiums correct as of Dec 2018.

    How much can Life Insurance cost an overweight person?

    A 57 year old male with a BMI of 40 looking for £50,000 of life cover over a 10 year term would pay a monthly premium of £24.21 with the increase for the high BMI included.

    Please note that the premiums provided are indicative only and based on this specific example, which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted. Premiums correct as of Dec 2018

    How much can Critical Illness cost an overweight person?

    Obesity means an enhanced risk of being diagnosed with a critical illness. Insurers will generally charge you more than someone who is a healthy weight.

    A 40 year old female with a BMI of 37 who is looking for £100,000 of critical illness cover for 20 years can obtain cover for around £66.18 per month, including all increases for high BMI.

    Please note that the premiums provided are indicative only and based on this specific example, which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted. Premiums correct as of Dec 2018

    How much can Income Protection cost an overweight person?

    As being obese increases the risk of a serious illness, it consequently increases the chances of being off work, whilst recuperating. Some conditions, such as a stroke, can lead to some form of disability which can stop someone from being able to do their job ever again, therefore triggering a claim.

    A 35 year old female office worker who has a BMI of 35 could obtain a full income protection policy offering a monthly income of £1,000, after a deferred waiting period of 3 months, for a premium of around £36.84 per month.

    Please note that the premiums provided are indicative only and based on this specific example, which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted. Premiums correct as of Dec 2018

    Why not call us now for expert advice?

    Call 0800 644 4468Mobiles call01737 336 990