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In today’s time, people are mostly losing their fitness as they spent most of their time sitting at home. You might not be aware of this, but your BMI levels can affect the premium rates of your life insurance plan. Body mass index is the metric to measure the fitness and health of a person.
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Read on to know more to find your BMI value and how it affects the premium rates of your term insurance plan:
Note: Know what is term insurance first and then buy a term plan for your loved ones.
Term Plans
Term insurance is the pure life protection insurance plan that provides financial support to your loved ones at low premium rates. With term insurance, you can receive a comprehensive life cover (sum assured) at pocket-friendly charges. The amount of benefit is paid out to the nominee in case of the life assured’s death during the policy term.
The Body Mass Index or BMI is a system of measurement that various doctors and medical professionals use to assess whether a person has a healthy body weight. It is mainly used as a basic overall indicator of an individual’s state of physical well-being. The BMI considers different factors of an individual like gender, age, weight, and height.
The value obtained from a BMI calculator is then used to classify an individual into any one of the following groups: Normal weight, underweight, overweight, and obese. Being obese or underweight can result in severe medical issues in the long run. The BMI factor is an ideal way for health care professionals to recognize whether you fall under the high-risk category.
It also helps an individual to take a corrective measurement to decrease the risk of developing any illness because of unhealthy weight. BMI calculator is a versatile tool that can be utilized for determining the weight of both males and females, and also children. Let’s discuss the BMI calculator in detail and how it affects the premium rates of term insurance plans:
A BMI Calculator is a tool that is used to determine the individual’s Body Mass Index. Using the BMI calculator, you have to enter your gender, age, weight, and height. Then, this tool automatically applies the formula that is used to compute the BMI index and show you the outcomes. When you enter your height and weight into one of these BMI calculators, it simply uses a formula to check the BMI value.
The results shown can then be interpreted using the suggested BMI chart to determine the category. BMI calculator can accurately compute your BMI regardless of whether you use the systems of measurement or metric system. There are various free BMI calculators available on the internet that can help you in measuring your BMI value. This calculator quickly checks your BMI and then depending on the category in which you fall, you can look out for more ideas to correct body mass.
BMI calculation is simple and hassle-free and only takes a few minutes. Below is the BMI formula:
BMI = Weight (kilogram) / [height(m)]2
After calculating the BMI value, the below chart is used to check the result. It is mainly suggested to have a BMI between 18.5 to 24.9.
|
BMI |
Status of Weight |
|
>18.5 |
Underweight |
|
18.5 to 24.9 |
Normal |
|
25 to 29.9 |
Overweight |
|
<30 |
Obese |
Note: It is suggested to calculate the term plan premium on the term insurance calculator online tool by Policybazaar before buying the plan.
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When it comes to term insurance plans for high BMI male or female policyholders, finding a suitable one is never that easy. The insurers use a BMI chart to determine how much amount of premium you are required to pay. Thus, if you are on the low side of the BMI range of overweight, you can be offered a reasonable amount of premium. However, if it is on the upper BMI side, then the premium will be more. The body’s weight directly impacts the premium rates as many insurance companies increase the premium amount by a fixed % for obesity.
Since BMI indicates the health and fitness status of a person’s body. It affects the term insurance premium rates. A higher body mass index means that the person is at a higher risk of getting heart-related diseases and might regularly visit the hospitals because of weight-associated problems.
In the same way, a person with a lower value of BMI than the average is also called unhealthy, as they may be suffering from some kind of underlying ailment that might not instantly be diagnosed.
One of the simplest ways to decrease the premium amount is by purchasing a life insurance plan online. You can easily compare the different plans for high BMI individuals to find the right product. Purchasing a plan through digital mode will help you in paying low rates of premium in comparison to buying a life insurance policy offline.
High BMI might result in heart diseases, diabetes, hypertension, respiratory difficulties, angina, and other health problems. These ailments can shorten your life span. So, if you have a high BMI, you are required to consider purchasing life insurance for obese or high BMI people. Your body weight can unquestionably affect your term insurance premium rates. So before purchasing a life cover, understand how the weight of your body affects it.
Note: Check out the best term insurance plan in India and choose one that suits your requirements.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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