People who are too heavy are once again in the crosshairs. The cost of life insurance for fat people can go up by as much as four times. People who eat too much have always had to pay more, but over the past year, the fees have gotten worse.
In order to cut costs even more, life insurers are lowering the weight limits they use to put people into different groups. With this tougher move, people who are just a little bit overweight but would have been eligible for a standard premium before are now charged higher premiums. The premium goes up quickly the more overweight they think you are.
When you apply for life insurance, you'll be asked about your height and weight, among other things. The life insurance company uses these numbers to figure out your Body Mass Index. If your BMI is higher than what they consider to be acceptable, they may ask for a report from your doctor. In more serious cases, they might ask you to get checked out by a doctor. If this shows that your weight is a problem, your premium will go up by at least 50% and could go up by as much as 400% if you're really overweight. Recent research shows that about 25% of people will have trouble getting life insurance because they are too heavy. In the worst cases, the insurance company might even turn down the application.
Insurance companies do take your age into account when figuring out your premium. This is because middle-aged people tend to spread out. They know that it's normal for people to gain weight as they get older. But if you are young and overweight, they will hit you very hard. So being overweight at age 38 will hurt a lot more than being overweight at age 58.
For example, a healthy 35-year-old man who doesn't smoke and wants level coverage for GBP150,000 over 25 years will be quoted GBP18.77 by Scottish Provident. However, if he's overweight, this could go up to GBP35, and if he's obese, it could go up to GBP47.
And obesity is a problem that is getting worse. In the last 20 years, the number of adults who are overweight or obese has gone through the roof. More than 60% of men and 50% of women are now considered to be overweight or obese. And things don't look like they'll get better. 28 percent of girls and 22 percent of boys between the ages of 2 and 15 are overweight.
What does your Body Mass Index say about you?
Figure out your own BMI.
Add 703 to the number of pounds you weigh.
Divide the number by your height in inches to get the answer.
Divide that number by your height in inches once more.
Your BMI is the number.
A normal BMI is between 18.5 and 24.9, according to most insurance companies. Having a BMI of 25 or more makes you overweight. Over 30 and you're obese.
Here are the BMIs of twelve famous people to give you a better idea of what this means for you:
Under weight
Paula Radcliffe, who runs marathons, is 18.0.
Victoria Beckham, Wife of a Footballer, 17.0
Actress Jennifer Aniston is 17.5
The average size
Alan Shearer, a footballer for Newcastle, is 24.4
Davina McCall - TV Presenter - 20.8
Cilla Black is the host of 20.7.
Overweight
Russell Crowe, a famous actor in Hollywood, is 25.6
Ann Widdecombe is a member of parliament.
Charlie Dimmock - Gardening Presenter - 26.0
Obese
Norman Schwarzkopf - US General - 30.5
Michelle McManus - Presenter - 34.4
Dawn French, who is a comedian, got 43.8
