What to Do If You’ve Been Denied Life Insurance Due to Weight?
If you’ve been denied life insurance, don’t lose hope. You can always reapply after working to improve the risk factors that made you uninsurable. Often, coverage denial isn’t due to weight alone.
For example, if you are denied because your blood pressure or cholesterol is too high, you can make lifestyle changes to improve your overall health without fixating on weight loss.
In the meantime, you may have other insurance coverage options.
Accidental Death Insurance
Accidental death insurance is a decent alternative to traditional life insurance. This policy provides a death benefit if you die due to an accident.
Unfortunately, it’s not complete protection. It won’t pay a death benefit if you die from an illness like a heart attack or cancer. But it still provides some peace of mind, and it’s inexpensive.
Here are the essential things to remember about accidental death insurance:
- Limited coverage
- Inexpensive
- Some coverage is better than none
If you apply through Quotacy and you’re denied traditional coverage, your agent will let you know if accidental death insurance is an option.
Final Expense Insurance
If you’re between 50 and 80, final expense insurance, a.k.a. guaranteed issue life insurance, may be an option.
This type of insurance doesn’t require any medical questions or exams, which is why qualifying is so much easier. Because there is no medical underwriting, the insurance company takes on a lot of risk with this insurance product, so premiums are pretty expensive.
To recap, here are the highlights of final expense insurance:
- Limited age range: 50-80
- Easy to qualify
- Expensive premiums
If you apply through Quotacy and you’re denied traditional coverage, your agent will let you know if guaranteed issue life insurance is an option.
Voluntary Life Insurance
Many employers offer life insurance options. Some even offer group life policies for free and voluntary coverage you can buy to supplement the smaller group policy.
You can get a decent amount of voluntary life insurance, e.g., 3-5 times your annual salary, without going through any medical underwriting. If you have been denied a private policy, we recommend buying as much voluntary coverage as you can afford.
Every year during open enrollment, you must re-enroll in your employer-sponsored coverage. Voluntary premiums are based on group rates by age per $1,000 of coverage. Moving into a new age group increases your rates from the prior year.
Here’s what you need to remember about voluntary life insurance:
- Policies get more expensive as you age
- No medical underwriting
- Limited coverage
- Re-enrollment is required annually
Should I Lose Weight Before Getting Life Insurance?
No, we do not recommend waiting to apply for life insurance. There is no cost to apply, and you can always decline the insurance company’s offer if the premiums don’t fit your budget.
If you apply and are approved, accept the coverage if you can afford the premiums, even if they are higher than expected. If you wait, your health may decline, and you could be deemed uninsurable. Don’t risk your family’s financial future.
If you make lifestyle changes, you can reapply to try for better rates. If approved for a better risk class, you can cancel your current policy. But don’t cancel your life insurance until your new policy is 100% inforce.
If you’re considering losing weight, you may be able to save money if you reapply after, but there are some important details to be aware of.
Get a Quick and Easy Life Insurance Quote Through Quotacy
No two life insurance companies underwrite the exact same way. If you have any health or lifestyle factors that may be seen as risky in the eyes of the insurance company, be sure to work with a life insurance broker.
Life insurance brokers can shop across companies to find the best policy for your unique circ*mstances. Quotacy is an independent online life insurance broker with a fiduciary duty to you, the customer.
Get instant term quotes online anonymously—we don’t ask for any identifiable or contact information until you’re ready to apply.
After you apply, you’re assigned a dedicated agent who will advocate for you. Their goal is to help you find coverage so you can protect those you love most.
Not quite ready to apply? Explore our wise buyers’ guide that details the entire process and all of your options.
