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An Expert’s Guide To Burial Insurance For Overweight People
By Matt Schmidt
There are roughly 100 million individuals in the United States who are obese with adults accounting for 39.6%, according to the latest 2020 information from the National Health & Nutrition Examination Survey.
It’s a significant rise from the statistics derived ten years ago. Due to the heightened risks that come with obesity, life insurance companies have been steadily increasing their policy premium prices. Or in some situations, an insurance company may deny coverage entirely due to a person’s weight at the time of applying for burial insurance.
Apart from practicing healthy living habits, a burial insurance plan is a significant investment. This insurance policy will guarantee members of your family or loved ones that there will be insurance to cover funeral expenses and other final expenses. Being overweight may cause you to think that you cannot qualify for burial insurance. That is not the case! wealth safety regardless of their weight, in case a tragic situation occurs to either or both of the spouses.
Not planning or having a final expense insurance policy for your family members can be a costly mistake that ends up leaving them with massive debt from burial expenses. Weight is one of the factors that can affect the payment rates of your burial insurance. This article offers some expert insights into burial insurance for overweight people.
Just as your home is designed to suit the needs of every family member, burial insurance coverage can be accommodating of a person’s weight. While you can be overweight and healthy at the same time, the additional weight can influence your life expectancy.
Some of the reasons that can lead to individuals being overweight include binge TV watching, unhealthy eating and lack of exercise. Therefore, insurance underwriters take into consideration your current weight and height when they’re reviewing your coverage application, making it more difficult for obese and overweight individuals to have their applications accepted or get good rates.
Now the good news is, there are SEVERAL insurance companies offering burial insurance policies. Each company has their own height and weight guidelines. One company may rate you higher due to your current height and weight, while another will have NO issues approving you.
This can seem confusing, but don’t let it be. This is why we are here to help! We encourage you to contact us at (844) 334-6143, and let us assist. We’ll simply ask for some basic information, and from there we can make suitable recommendations, based off your height and weight.
One primary concern for underwriting insurers regarding overweight individuals is the effect on the person’s health and cardiovascular system. The insurance companies will ask basic health questions, in addition to asking for a list of medications you take. Majority of insurance companies will do a prescription background check, to make sure the medications you provide, match up with the ones being refilled.
Some life insurance companies will also ask if you use a wheelchair, or motorized scooter. If you answer YES, they may disqualify you from their policy. Other companies do not ask these questions, and it’s not a concern to them.
All of the above requirements will determine if you’re overweight or obese before the insurance company can decide on approving or rejecting your application altogether. Moreover, underwriters can ask if you being overweight is as a result of a particular disease, such as Diabetes, and if your weight has fluctuated or remained constant throughout the years.
There are a few insurance companies, who do not CARE what your height and weight is. If your current height and weight is an issue for most companies, we will recommend a burial insurance provider that will accept you.
As an example, Mutual of Omaha may rate a person higher, or place them into their two year death benefit waiting period product because of your weight. But maybe Lincoln Heritage, or Sentinel Security Life would be able to approve at lower rates, and offer coverage with an immediate death benefit product.
Certain carriers will take accept people if they are over age 40, or for seniors in their 60’s. It’s important to work with us, and let us find the company that is right for you!
The primary purpose of life insurance underwriting is to determine the level of risk to the company when issuing life insurance to a person. Being overweight significantly increases the risk of you contracting diseases related to your BMI and the overall amount of coverage the business will pay upon your death.
Obesity increases the risk of conditions such as stroke, diabetes, high blood pressure, heart attack, cancer, liver diseases, and many other related conditions. This makes insurance companies to carefully consider and treat obese people differently as they are in the business of making profits.
Like we previously mentioned, all companies have different underwriting guidelines, and height and weight charts. To determine what companies would accept you, you simply need to contact us at (844) 334-6143, and visit with an agent.
Therefore, with the above information, insurance companies can end up charging higher rates to overweight people to reduce their financial risk. Nevertheless, obese people can still get good burial insurance rates by using the following tips.
Your weight matters when you want to get a good insurance rate. Most of the insurance policies don’t require a medical exam but expect total honesty when you’re completing a health questionnaire. Depending on your weight, it can help you get a lower rate.
This means that even overweight people can acquire a better and cheaper life insurance rate by revealing their actual measurements. It’s therefore, essential as an obese person to ensure that real information is given to the insurance representative so that they can recommend the best policy for you.
Slight misinformation about your height and weight can massively affect the cost of your burial insurance policy. Besides, honesty, an essential trait, can save you money and get the best available policy in the market based on your weight.
If death occurs in the first two years of the policy, insurance carriers have the right to ‘contest’ the death claim. Meaning they will review health records, to make sure your answers match up with your doctors medical records. Lying on an application, could cause a policy to be rescinded. Not everybody will qualify for the products that offer an immediate death benefit. In some situations you may be forced to accept a guaranteed acceptance policy. These policies will accept you no matter what your health and weight is. For many people in this category a policy from Gerber Life Insurance may be your best bet.
With numerous insurance companies to choose from and representatives who are competing for your business, it’s vital for you to get the right policy that is best suited for your current health and weight condition.
Working with an individual insurance agent who isn’t attached to one company can be the best option after all. The advantages that an agent may bring include shopping for dozens of different insurance companies on your behalf and making comparisons so you can secure the best deal among the top burial insurance policies available. Agents can also recommend the best available funeral trusts that pay the burial expenses directly to your selected funeral home, protecting your life insurance altogether.
Furthermore, agents can solely focus on the individual needs that protect you and your family members in case of death.
When working with us, we’ll be able to help determine what companies will offer you the best possible final expense insurance policy.
Burial costs can result in your family gaining massive debts as a result of your death. The additional costs include pending hospital bills, morgue fees, and travel expenses that might leave members of your family suffering financially as they scramble to repay them.
Therefore, consider taking a favorable burial insurance policy that caters for burial costs in advance to protect your family from the above risks. It will secure the financial status of your family for the foreseeable future and help avoid the stress that comes with never taking up a policy.
Many overweight clients die while waiting for a better insurance rate that suits them, according to several insurance agents. Some of the clients never picked a life or burial insurance because they thought the current policy rate isn’t favorable to them.
People often times tell themselves, that they’ll lose weight, in order to qualify for a better-priced policy. Sadly, this doesn’t always happen. After all, we are human, and may not be able to obtain our fitness goals.
Therefore, it’s recommended for anyone to take the best available final expense policy in the market so that you can avoid gambling with your family members’ future. It will ensure you peacefully get to spend the rest of your life once the insurance is in place.
After you have a policy in place, if you can obtain a better priced one in the future, you can simply replace an old policy. But in the meantime, you would at least have a plan in place, to protect your family.
The perfect alternative that can be considered by an overweight person is shedding the extra weight. Having a better BMI can fetch you the best insurance prices available in the market. Therefore, do consider improving your health to reduce the risks of getting diseases that might worsen your current physical condition.
It goes a long way in improving the application approval process and paying for your insurance plan. You may even drop out of the overweight program and get a new cheaper policy for yourself. By losing weight, you can substantially end up saving a lot of money on your burial insurance coverage plan.
If you are overweight and looking for a burial insurance plan, consider working with a well-established insurance broker that works with multiple insurance companies.
This will help you examine different policies and premium rates as you determine the best possible plan based on your personal and family needs. Your life is continuously changing, and death can happen anytime.
Not planning for payment of your burial insurance plan can prove costly to your loved ones. Therefore, consider adopting these expert suggestions when choosing your policy to reduce the burial costs that may arise in the future.
In our humble opinion, burial insurance is definitely worth it in the long run to help out your family at the time of your death.
Don’t feel like you have to do all of this alone. Let the experts go to work for you, and help find you the best burial insurance policy! An agent will work with you, answer all your questions, and help you find the policy that fits your needs.
Finding burial insurance while being overweight, can be a little tricky. Let us do all the hard work, and work on your behalf!
Call us at 844-334-6143 and speak with a licensed agent. WE’D love the opportunity to assist you an your family.