Am I overweight?
UK guidelines state that anyone with a BMI of 25 or over are considered overweight.
Unfortunately, this isn’t always the most accurate measurement as those with high muscle density, such as bodybuilders, have a particularly high BMI.
As a result, this demographic would be considered overweight, even though their fat percentage is extremely low.
In the instance of a high muscle mass distorting your BMI reading, insurers may reward you with standard rates.
Does losing weight affect life insurance?
Yes, losing weight (if you’re classified as overweight, obese or morbidly obese) could affect your life insurance options.
Losing excess weight can help to lower your BMI and, as a result, can reduce the cost of the premium you’re offered when getting a quote.
This is because having low body fat correlates with good health and living a longer life, which reduces the risk you pose to insurers.
Lowering your BMI can also help to improve some health conditions which would typically affect the cost of your life insurance.
For example, if you suffer with high blood pressure or a more serious heart condition, then your premiums would be inflated further.
Being classified as underweight can also affect life insurance. A person with a BMI of under 18.5 would be charged a higher premium due to the health risks associated with being underweight.
Life insurance after weight loss
If you have an existing policy and you've recently lost a significant amount of weight, then you may consider arranging a new policy.
This is because you may be able to secure a lower monthly premium based on your new healthier weight - depending on your current age and health.
Reviewing your existing policy and sourcing quotes will allow you to determine whether getting a new policy will offer you a saving.
Life insurance after surgical weight loss
Surgical weight loss or rapid weight loss, however, could have the opposite effect.
Arranging life insurance immediately after surgical weight loss could result in abnormally high premiums or even being declined due to your recent major operation.
It's likely your application would be deferred until you've made a full recovery.
Rapid weight loss, on the other hand, can point to underlying serious medical conditions.
As a result, you're likely to experience significant loading of your premiums or possibly even being declined.
What if I lie about my weight?
When applying for life insurance, hiding key information about yourself from the insurer is called ‘non-disclosure’.
Any form of non-disclosure will invalidate your policy and a pay out won’t be made when you pass away.
It’s important to disclose your true weight to ensure that you’re getting the right protection and ensure your policy will pay out.
As discussed, it’s possible to obtain affordable life insurance even if you have a high BMI.
You may be able to secure a lower premium than you think.
Life insurance for overweight males and females
Whilst being overweight can affect your life insurance, being male or female won’t make a difference to your application.
In 2012, the European Court of Justice (ECJ) ruled that gender can no longer be taken into account when calculating the cost of insurance premiums[2].