Strip for your Life (insurance)

Ok, admit it, you decided to read this article because you saw “strip” in the title.

In actual fact this is a serious article about health issues. If you’re still interested, please read on.

As you’re most probably aware weight or rather, lack or excess of it seems to be a timeless and tireless topic to the media. To be fair it is something the majority of us are very interested about hearing.

For this article I will concentrate on the latter, excess and in a society some would say “of excess” it is fast becoming a huge problem (pardon the pun), especially to already overloaded resources such as the NHS

You’ve most probably all heard the scare tactics used by the government to urge you to lose weight but the worrying thing is they’re basing this information on fact.

Increasing your body fat levels to high levels inversely increases the chances of heart disease and cholesterol (both much publicised). There are many other conditions that people don’t realise are associated with high body fat levels, such as; Diabetes, certain types of Tumour, joint problems (for example Arthritis), conditions related to the liver and many, many others.

You really have to ask yourself “do I want to run the risk?” This one little word is what leads us to a problem. This is how insurance companies calculate their policy prices, by working out how much of a “risk” you are to them. If you apply for a life insurance policy you could face up to a 50% increase if they deem you to be overweight. This is called a “loading fee” and is the insurance company’s way of charging you for being more risky to them as a policy holder.

Look into loading fee’s a little further and you will find that an insurance company can charge you anywhere between 50-200% extra as a result of one being added to the policy.

Many other factors can result in one of these fees’s being added, such as, pre-existing medical conditions, family members with related medical conditions, even activities such as rock climbing, etc.

What can you do to avoid this fee, well for starters, just losing half a stone and upwards could make all the difference. If you still find yourself receiving poor quotes and large loading fee’s on your term assurance after this, try another company, try a few if it helps.

The old adage “there’s always something better” is very much true of the insurance industry. The biggest and most important thing to remember is this; always supply every bit of relevant detail you can think of when applying for any insurance policy, when applying online, always ring the insurance company to give these extra details. Without this you could find yourself uninsured when you really need it!

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