I am 33 years old and weigh about 102kg. I am 5’7" tall. I want to buy a life insurance policy. Will the insurer charge me a higher premium for being overweight?
—Name withheld on request
Your Body Mass Index (BMI) is extremely high. Most insurers will consider your insurance as significantly higher than standard risk and will apply a loading on the standard premium for your age. These loadings can vary between 25% and 50% of the base premium. The increased premium will be constant for the entire term. The loadings vary by insurer and there may also be insurers that reject the insurance because of the high BMI. Before you apply with a particular insurer, consult the insurer’s representative or an advisor about their usual rating practices for BMI.
