Obesity could have an impact on
life insurance premiums as providers are unable to cover the consequences, the Association of British Insurers (ABI) has commented.
Lifestyle factors such as obesity can raise premiums as they incur a greater risk and this is something that insurers must take into account, ABI spokesperson Jonathan French has said.
The best option is to always inform insurers of any lifestyle changes that could have an impact on the type of cover provided.
Reduction of obesity could result in a reduced premium.
Insurers often use the BMI (Body Mass Index) or related measurements to determine obesity, and customers are advised to make sure they understand what system is used.
"Insurance companies need to look at what the likelihood is of any given individual making a claim in the future. So lifestyle factors, such as obesity, but also things like smoking and drinking, are taken into account. As of course are any pre-existing medical conditions; of which I'm sure they'd be some medical professionals would argue that obesity itself was a medical condition," Jonathan French further explained.
The ABI urged customers to remember that policies are underwritten at the point of application, not at the point of claim.
For great value deals on
life insurance, click here or call
InsureandGo for a quote.