Terry Gordo, Negosentro | Many people understand that their health will affect their life insurance rates. However, not everyone realizes that their body type can affect their life insurance rates. One way of quantifying body type is by calculating a person’s body mass index, or BMI. The BMI chart uses a person’s height and weight to categorize the individual as underweight, overweight, or normal. Those deemed overweight or obese according to the BMI chart often face higher insurance premiums than those whose BMI falls within the normal range.
Although a higher BMI can indicate a higher risk for illnesses such as Type 2 diabetes and heart disease, the BMI chart doesn’t account for factors such as muscle mass and bone structure. Hip-to-waist ratios are a better way to predict health conditions, and through Health IQ, it is possible to find life insurance agencies willing to replace BMI with hip-to-waist ratios. However, many people don’t know that other options are available or what the best alternative is. According to Health IQ’s recent survey, only 30 percent of people surveyed realized that BMI is an outdated method of measuring health.
Your body type isn’t the only factor that influences your life insurance rates. Other factors include both circumstances within your control — such as your driving record, tobacco usage, and lifestyle habits — and factors that you have no control over, such as your age and gender. Take the quiz on how body type affects life insurance rates and explore Health IQ’s in-depth life insurance FAQ page to learn more about the factors that can affect your life insurance rates.