Individuals with a high BMI can typically access both life and critical illness insurance without too much trouble, but rates will vary from one insurer to another which is where we can add value for clients in accessing the most cost-effective options.
Some insurers will be able to offer cover based upon the submitted application if sufficient information can be provided, others may wish to write to your GP or look to complete a medical screening.
Insurers typically look at the combination of BMI and age to decide the terms offered, but terms offered differ greatly from one insurer to another.
What we need to know
Information that is useful to have to hand when looking at life insurance includes:
• Height and weight
• Any associated conditions such as high blood pressure or cholesterol
• Any surgical interventions such as gastric bands
This 29 year old woman had recently reduced her BMI from 48 to 43 and had no associated complications. She wanted life and critical illness cover but had been consistently declined which she found very upsetting.
We used our network to source several options. AIG offered life only – no critical illness – with a +200% rating and paramedical screening. Aegon’s offer was similar with no critical illness cover as was one from Royal London. We succeeded in placing the case with Scottish Widows, for both life and critical illness cover. The terms were issued with +100% rating and no medical or GP Referral needed. She was thrilled!
When Phil called us he said he was a 46 year old man, who was 5 foot 10 tall and weighed 21 stone 7, giving him a BMI of 43. He explained that he was losing weight at a steady rate and wanted to understand how his BMI could effect any future life cover or critical illness options.
We were happy to present some options to him:
BMI 43 (21 stone 7) – critical illness decline (only life cover available)
BMI 41 (20 stone 7) – +125% to premium
BMI 37 (18 stone 7) – +50% to premium
BMI 33 (16 stone 7) – standard rates available
This was incredibly helpful for Phil and increased his motivation towards his weight loss goals.
*Names changed for privacy