The short answer to this question is: yes, absolutely. Obesity is an increasingly prevalent problem in Britain and world-wide, and the negative effects of being overweight are much more widely known than ever before. Insurers are responding with massive increases in premiums for overweight and obese people.

Higher Risk Means Higher Premiums

Insurance companies calculate the cost of your life cover by assessing the risk of your lifestyle. Other factors such as age are also important, but high-risk lifestyle choices such as smoking and being overweight increase your premiums by a significant margin.

This is simply because excess weight is a health hazard—a known cause of health issues such as stroke, heart attack, and diabetes. Overweight and obese people are more likely to experience these health problems and are more likely to die at an early age than people of a healthy weight, and insurers adjust premiums accordingly. If you’re overweight or obese, you can expect to pay anywhere from 50% to a staggering 400% more for your life insurance premiums.

Life Insurance Companies Use the Body Mass Index to Decide who is Overweight

Insurance companies do not use weight alone to determine if you are of a healthy size. Instead, they’ll ask you to disclose your height and weight, and then use this information to determine your Body Mass Index (BMI). If your BMI is outside what they consider normal limits, they may ask you to undergo a medical examination to confirm your health status. This is particularly important because in some cases, people with a higher BMI are not necessarily at risk—someone who is very fit, with a high proportion of muscle, may have a higher BMI because muscle is heavier than fat.

If you’re interested in calculating your own BMI, use the following equation:

1. Multiply your weight in pounds by 703
2. Divide the total by your height in inches
3. Divide the new total by your height in inches again
4. The figure you get is your BMI

The average insurance company considers a normal BMI as between 18.5 and 24.9. Between 25 and 29.9, you are considered overweight, while a BMI of 30 or more puts you in the obese category.

However, it’s important to note that insurance companies also take your age into account when determining how your BMI affects your premiums. Most people do naturally gain a little weight as they age—“middle aged spread” is a fact of life that insurance companies do acknowledge. As you age, the effects of weight on your premiums does reduce slightly, and insurance companies are more likely to be lenient if you’re overweight at 55 than if you’re overweight at 35.

Reduce Your Weight and Reduce your Premiums

All of this means, quite simply, that being overweight will increase the costs of life insurance. However, the reverse is also true. If you’re currently overweight or obese, losing weight and keeping it off will entitle you to apply for a review of your insurance costs. Given the obvious health benefits of losing weight, it’s definitely something to think about.