Funeral Insurance For Overweight And Obese People

The terms “overweight” and “obese” refer to your weight being higher than what is considered healthy when compared to your height. This is typically determined by your Body Mass Index (BMI) number.

Suppose you are in good health as far as any medical conditions are concerned, but you are overweight. What are your options and can you get coverage from the best funeral life insurance companies?

Funeral Insurance For Overweight And Obese People

Funeral insurance companies consider weight when determining eligibility for coverage. Generally speaking, people who are in good health that would otherwise qualify for a top-tier plan will only be denied due to their weight if they are considered morbidly obese, not just overweight.

Having said this, some funeral insurance companies do not consider weight when underwriting a policy.

Understanding Funeral Insurance

Funeral coverage is also known as burial insurance and final expense insurance. These policies are all the same and are used interchangeably as various marketing terms. This coverage falls under whole life insurance.

These policies were created to give seniors an affordable way to plan for their funeral expenses. While this insurance is intended for funeral costs, beneficiaries can use the money to pay for anything.

Whole Life Insurance Features

Whole life insurance coverage lasts for the entire life of the insured, so you never have to worry about outliving your policy. With no expiration, seniors have peace of mind that their funeral expenses will not burden their family.

There are three main things that make funeral insurance a great option for many seniors.

Coverage Lock: The coverage amount, also known as a death benefit, will never fluctuate. Having this amount locked in will ensure that your beneficiary will get the money that you intend.

Price Lock: The price will never increase, regardless of how long you own the policy. Having the monthly cost locked in makes budgeting easy, especially on a fixed income.

Builds Cash Value: Over time, a cash value builds allowing the policyholder to borrow from it if needed. With each payment made, a portion goes towards this account, acting as a living benefit.

Burial Insurance Benefits

Low-Cost:  Due to the relatively low death benefit amount that final expense coverage comes in, it is considerably less expensive than traditional policies. Burial coverage amounts range from $2,000 to $40,000, while traditional plans begin around $50,000 and extend into the millions. The more coverage you have, the more the burial insurance premiums will cost.

No Medical Exam: These plans go through a simplified underwriting process, meaning that the applicant will never be asked to get a medical exam. Seniors can finalize the application completely over the phone with instant acceptance from some carriers.

No Waiting Period Options: For people that qualify, immediate coverage will be awarded. Seniors who are morbidly obese will also have this option as long as they meet all other health requirements.

Underwriting Final Expense Insurance For The Overweight And Obese

If a company does not ask about a specific condition (including height and weight) on the application for coverage, it does not matter when determining eligibility. Meaning you will still be in the running to get accepted by the company.

There are highly rated burial life insurance companies that do not have a height and weight chart as a part of the application. However, you will still have to meet the rest of the medical qualifications.

Related Conditions that Could Affect Coverage

There are some health concerns that being overweight can lead to. Insurance companies will ask if you depend on a wheelchair to get around and if you can perform the activities of daily living (ADL) on your own.

Activities of daily living include bathing, dressing, eating, toileting, and mobility/transferring. If you cannot complete these tasks due to obesity, you will be limited to guaranteed issue life insurance policies.

Lap Band & Hospital Stays

If you have recently had weight loss surgery or any surgery, the coverage options will be limited. It will also ask if you have stayed overnight in a hospital within the last 12 months. Typically, lap band and gastric bypass surgeries will cause you to stay one or two nights in the hospital to recover.

What is a Height and Weight Chart?

The majority of companies that use a build chart to determine eligibility will not disqualify a person unless they have a BMI score of over 40. Oftentimes the carriers have their own ratio that is reflected in a height and weight chart.

As seen below in the example, height-weight charts often have a minimum and maximum weight for the plans it offers.

How Burial Life Insurance Companies React to Overweight and Obese Applicants

If you do not meet the weight requirements that the insurance provider lays out, you will be denied coverage. There are, however, some carriers that do not use a build chart to determine acceptance.

The top carrier options that do not have a build chart as a part of the application process are:

• Aetna (CVS Health)
• Royal Neighbors of America
• Guarantee Trust Life
• All Guaranteed Issue Plans

Best Burial Insurance For Overweight And Obese Seniors

Again, if you are overweight or obese, final expense insurance coverage will not be affected. It is when your weight hinders your daily activity and creates other health concerns that insurance companies will care about. Only morbid obesity will be cause for denial.

If an application does not ask about a condition, they do not mind if you have it. There are really only three things that you should look for when getting final expense insurance.

Monthly Cost: Make sure that the premiums are affordable for your budget. Getting the lowest available price will allow you to save money or to obtain more coverage.

Company Rating: Taking your policy out with an insurance company with a strong financial rating is important. Third-party rating companies post their reviews of insurance providers. Work with a company that has a “good” to “excellent” rating.

Start of Coverage: Some policies have waiting periods before full coverage begins. Being overweight alone will not cause you to have a waiting period, so make sure you get coverage that begins immediately.

Captive Agents vs. Independent Agents

There are two types of agents that seniors can purchase life insurance policies from, captive and independent.

Captive: A captive agent can only sell plans from one company. This causes issues for consumers because not all policies are created equal. As stated earlier, every plan has different qualifying criteria. Since captive agents have access to limited plan options, they cannot compare plans to help find you the best price.

Independent: An independent agent represents many insurance companies. This allows them to shop around on behalf of their clients to find the best coverage that fits their individual needs. For people with pre-existing conditions at the time of application, this is the best direction to head because independent agents can compare pricing and underwriting standards for many plan options.

It is imperative that you work with an independent insurance agency that specializes in this coverage. Specifically, an agency that regularly works with high-risk individuals to get the desired coverage at the lowest rate.

Why Willamette Life

Willamette Life is an independent agency that specializes in final expense insurance. It is the goal of all agents at Willamette Life to find coverage for everyone who wants and needs it with no waiting period at the lowest rate available.

We represent many carriers and know what each will and will not accept in terms of health requirements.

Call us at 844-576-0019

FAQs: Burial Insurance For Overweight And Obese People

Can You Get Life Insurance if You are Overweight?

You can still get life insurance if you are overweight or obese. Only people who are morbidly obese will come across difficulty in obtaining a final expense life insurance plan. But several companies do not consider weight at all. As long as you are able to meet the other health requirements, you will be eligible for immediate insurance coverage.

What is the Weight Limit for Life Insurance?

There is no specific universal weight limit for life insurance because each company creates its own weight restrictions. These weight maximums and minimums are based on your height and depend on how many pounds you weigh at the time of application.

Does BMI Affect Life Insurance?

While insurance companies will not ask specifically for your BMI score, most have a height and weight chart that you will need to fit within. Body mass index can affect which life insurance plan you can qualify for as it relates to the company’s specific underwriting standards and its height and weight chart.

What BMI is Too High for Life Insurance?

Generally, people with a BMI calculation of 40 or below will not have an issue getting burial insurance. BMI calculators can be found online by doing a simple search. Some life insurance companies allow a maximum BMI score of up to 45, while others will deny coverage at a score of 41. It truly depends on the company and the plan.

How Does Weight Affect Life Insurance Rates?

Weigh will not directly affect the price you pay. However, it could affect the plan you can qualify for, with some plans being more expensive than others.

Final Thoughts

a. You can get funeral insurance for overweight and obese people. Most carriers that ask about weight will only deny coverage to those who are considered morbidly obese.

b. There are a select few insurance companies that will not consider your height and weight when determining coverage eligibility.

c. It is best to work with an independent agency like Willamette Life to determine the best plan for you, given your specific set of pre-existing health concerns.