Healthly Insurance

Did you know that the state of your health dramatically effects the premiums you pay for things such as life insurance, income protection insurance or Trauma cover. For example, if you have a body mass index (BMI) of more than 30 you are considered to be suffering from obesity. It is well known that those suffering from obesity are more likely to suffer serious illnesses like heart disease, stroke, cancer etc.

Insurance companies are also well aware of health conditions and the risks associated and adjust their premiums accordingly. For example, if you BMI is greater than 30 you usually can get accepted for personal insurance but with loading (paying nearly twice as much for your premium). The other main condition, caused prominently from poor diets, is type 2 diabetes. Lack of exercise and poor eating is known to be a contributor to type 2 diabetes and insurance companies use this as a signal for how well you take care of your health generally.

The good news is these conditions can be addressed by changing your life style and it’s never too late to do so, even in the eyes of insurance companies who will reduce your life insurance and income protection insurance quote. If you initially get a policy with some loading, if you manage to get your condition under control, then you can reapply for personal insurance.  This is also the case if you are a smoker as well. If you reform and quit for more than 1 year, then you are classified as a non-smoker in the eyes of insurance comp