Life insurance for overweight applicant
originally posted: 11/22/2006 reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email asktony@tonynovak.com.
Q: I am healthy but seriously overweight so I do not qualify for life insurance. My employer offered to pay for $25,000 in coverage under an individual term insurance plan but I cannot find a company that will insure me.
A: Globe Life and Accident is a reputable insurance company that does not consider weight in the application process so you will qualify at standard rates. The restrictions are on the type of insurance. In your case, term insurance may not make sense but a permanent level premium whole life policy (listed as "Adult Whole Life") would offer you the guarantee of lifetime coverage at today's lower rates even if you change jobs. This coverage is available with a fast online application. No medical exam or agent appointment is necessary. The eligibility requirements are listed at http://www.FreedomBenefits.net/articles/Eligibility-for-Globe-Whole-Life-Insurance.htm and the enrollment link is listed at the bottom of the page. Even though the level premium policy cost more in the early years than a limited term policy this is still a great deal because of the extra guarantees, especially if your employer pays part of the cost.
Summary
More resources:
Globe Life Insurance
FreedomBenefits.net