It is estimated that millions of consumers are forced into stumping up higher
life insurance premiums ever since insurers decided to re-write their "dangerously overweight" terms.
Laptop Battery What will this mean for consumers?
According to new data from the Korea Life Insurance Association (KLIA), the number of insurance policies in the country is soaring, with both premiums and payouts also on the rise. Koreans have approximately 1.7 insurance policies on average. In Korea, there are 79.8 million insurance policies, and insurance premiums paid by subscribers total 66.5 trillion won per annum. "Thanks to the income increase following economic development and the understanding of life insurance products, more people seem to regard life insurance products as a necessity that helps them get prepared for risks."
Thinkpad It will mean that somebody who is a fraction above the stated healthy weight range will end up paying over half more than somebody within the healthy weight ranges. Some overweight consumers have been denied life insurance cover all together, whilst those that are offered cover, can pay up to 5 times more. This leaves many consumers completely wide open, left with no insurance to protect their families. The insurance companies currently use a measuring system based upon the Body Mass Index.
According to website bestdealinsurance.co.uk, getting naked when you are weighed for life insurance could make all the difference to the cost of your policy . Life insurance companies now load policies with anything from 50 to 200 per cent on initial quotes for those who are overweight or obese . Just the difference of a few pounds could result in a better premium . Bestdealinsurance indicate sample cases, including one where an overweight customer received a 50 per cent loading with one insurance company, and weighed himself in the nude and was accepted at standard rates by another company .
Microsoft For example,
> News Life insurance premiums soaring in Korea Mon, 13 Aug 2007 According to new data from the Korea Life Insurance Association (KLIA), the number of insurance policies in the country is soaring, with both premiums and payouts also on the rise. Koreans have approximately 1.7 insurance policies on average.
Laptop Computers Underweight = less than 18.50
If you don’t already have life insurance because you thought that being even just a little overweight would make your life insurance rates too high, you can compare online life insurance premiums for Term 10, Term 20 or Term to 100 policies with face values ranging from $50, 000 up to $2 million.
Laptop Computer Normal = 18.50 to 24.99
After the initial period of guaranteed premiums, what will my term life insurance cost Each term life insurance policy, if renewable, has a contractually guaranteed maximum life insurance renewal premium that can be illustrated, and which is shown in your policy. This amount is the most you'll have to pay to renew the term life insurance policy.
Desktop Computer Overweight = 25.00 to 29.99
Notebooks Obese = 30.00 or above
Lenovo Until recently, the acceptable BMI sat at around 33 to 35. Recent moves has seen this figure land at around 28 to 29. This now means that a male or female weighing over 13.5 stone, with a height of 5ft 7", would have a BMI of 29.41, therefore risking much higher life insurance premiums, sometimes by up to 50%. This could mean around an extra £120 per year for the average policy. Over the course of a 25 year policy this would mean amount to an extra £3000.
Hard Drive In past years, the higher rate of premiums would only affect those with a BMI of over 43, whereas now, the threshold is set at around 38.
Travelstar Insurance industry experts are claiming that the recent spurt in UK obesity has led to insurers re-considering their current acceptable weight levels. Due to the fact that an overweight person is much more likely to die younger than a person within a healthy weight range, insurers are forced to impose much higher premiums onto those overweight, to compensate for the higher risk category.
Gateway It is known that over half of the British public are considered to have a BMI of over 25 (overweight or obese), and unfortunately, this percentage seems to be rising in an upwards trend, indicating that an increase in the average price of a life insurance premium could also rise
Laptop Parts For more information on life insurance please visit Life Insurance Quote Zone OR Life Assurance Zone
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