My Life insurance rates went up because of my weight!!!!

[Rock'n Robin]

I am switching from a whole life policy ($75 per month) to a term policy. I had blood drawn and stuff before our WDW trip and weighed 175. I am 5'7". I would like to be 150, but I'd also like to be a millionaire, it's just as likely. I quit WW recently because I was just treading water weight-wise and I can't afford it.
Anyhow, I was quoted $47 a quarter. The underwriter wanted to see my medical records which took a few weeks. Finally I find out I'm rated "standard". I thought this was the second tier, because I have a Mitral Valve Prolapse. Turns out it is the THIRD tier, and it is because of my weight! The new rate is $10 more per quarter, or $40 more per yesr.

I wear a size 12-14, which is supposedly the national average--I do try to maintain and my cholesterol, etc. is just fine and dandy. No high blood pressure or anything. I don't think this is right. Should I try another agent or have this one try another company? I am still saving big money over my old policy. I also have $40,000 through work, but that won't put the kids through school.
How do people who are really overweight get insurance at all????
Robin M.

 

[Tina]

Wow! That's horrible. Your weight, IMHO, is completely NORMAL. Do they charge supermodels more for being annorexic (sp?)??

 

[Kteacher]

That really stinks! I would contact your State Rep. or State Senator. This sounds like something that needs to be changed.

 

[Dan Murphy]

Robin, to qualify for the lowest rates, usually called something like 'super preferred', from most companies today, you do need to be in like olympic condition. A preferred rate would be 'normal' height/weight ratio and no other medical problems. The MVP may have kicked it into the standard category, as the items that are negatives are cumulative, the more you have, the higher the rate. Also, something your doctor may have reported on his/her report may have triggered it. Check with your doctor too. You should ask your broker the specific reasons for the standard rating and ask him/her if he/she can secure a better plan from a competing company. Regards your 'really' overweight' question, for some folks it is very hard to secure. Good luck.

 

[DVCajun]

Wow.

I'm glad we got 30 year term. Although that means we'll be 60 when we need to renew, and not exactly at our prime. We'll probably get new insurance before then-- we'll need to increase our policy anyway.

Sorry about your rates.

 

[Rock'n Robin]

I am trying to check out some options today. I guess my Union offers a good policy but only a 10 year term. I am getting a 20 year term. I'll be 59 when it runs out but by then I won't really need it, as my kids will be gone. I'll just get a little "burial" policy then. The agent I've been working with offered me a 10 year term at a lower rate, but then the projections to renew at age 49 were really ridiculous, at a time I'll have 2 kids in college.
I even had a coworker ask me why I needed life insurance at all! Her DH is the "breadwinner" and she has never had insurance. Her kids are all grown now, thank goodness. I explained that DH and I make about the same, and DH would have to find a lot of child care, as well as health insurance, if something happened to me. I hope I never need it, but I want the kids taken care of.
Robin M.

 

[mamajoan]

I am glad that you are in good health, sorry that the insurance company does not seem to see this fact..

Being diabetic makes it impossible to get life insurance.. I was lucky enough to get some thru the hospital I once worked .
The other policy I have.. I have to pay an extra fee that does not go towards the insurance itself.. It is large amount of the annual cost of the insurance. I feel lucky to have the life insurance policies I do have.. now nobody will touch me with a 10 foot poll.

btw.. I am sorry to say that you probably have opened a huge can of worms for discussion here on the CB.. there will be a number of people who will voice their opinions strongly regarding the issue of insurance cost and weight requirements..