Life insurance is sought after by many people, and for good reasons. Having the peace of mind that your beloved ones who depend on you financially will be taken care of if you pass away is indeed worth it. However, getting a life insurance with a reasonable rate and decent coverage isn’t as easy as it seems. There are many factors that come into play when a company grants a life insurance policy. Not everybody is eligible for receiving a good life insurance plan, let alone receive one at all.
Unlike health insurance which cannot be denied by law, life insurance is different. When you apply for a life insurance, the insuring company assesses you in terms of risk. Simply put, the companies evaluate your health and life expectancy to decide what type of insurance plan will work to their best interest. If you are a healthy person with no serious health conditions, you are eligible to receive the best life insurance plans. However, if you have health issues, that is a different story. The seriousness of those conditions can have a great effect on the type of life insurance you are eligible for. Among the conditions that insurance companies take very seriously is your Body Mass Index.
This index classifies people based on the relation between their height and weight. Based on a person’s BMI they can fall into one of four main categories: Underweight, normal, overweight and obese. Obviously, being in the normal category that has a BMI between 18.5 and 24.9 will allow you to have the best available life insurance plans, while falling into the obese category will make most companies either charge a high premium or refuse to grant life insurance at all. However, if you know exactly how your BMI can affect your life insurance, you will be able to find plans that offer very decent coverage. Taking a quiz such as the one offered by HealthIQ.com will help you see the big picture and figure out your next move.