Being Fit & Buying A life Insurance - Life Insurance Canada

By: Donald Carmin

Being fat and smoking is not a healthy sign for both a person's health and pocket. Insurance companies have started to charge extra premium to provide insurance to smokers and people who are obese. The logic behind it is that these people are more prone to certain disease like cancer, diabetes and heart stroke. The treatment to these diseases is basically costly compared to treatment to others. Even the medicines are very costly and not easily available. So to cover the extra cost associated with these diseases, insurance companies are charging more premiums to such people. Since cancer is caused by nicotine which is used in cigarettes and fat people are more prone to diabetes and heart diseases.

Insurance companies do a medical test of the person who wants to buy a health or a life insurance and if he is found guilty of smoking and obese then you have to shell out more for your insurance requirements. People in fact have started to quit smoking and are trying to keep themselves fit by exercising. Well it benefits them both ways, regular exercising helps them to be fit and it is also helping them to lower the cost of life insurance. In fact you can keep a track record of your weight and if you find a significant loss in your weight, you can in fact demand a reduction in your monthly premium on your insurance. They have a weight chart where in they have a data of what is the correct weight of a person. This data is made taking into account of a person's age, height and sex.

Although some pro smokers group tried to argue with the insurance companies with the help of some data stating that, smokers and non smokers are as likely to die as non-smokers of the same age group. But the insurance companies have not accepted this argument and are charging up to 56 percent more on the insurance premium. Similarly people who are fat are also not being saved; they are also being penalized for being overweight. Insurance companies have some data that is called BMI. They have taken into account all the factors like age, height and sex. And If you are found to be more then the recommended weight then you are liable to pay up to 50 percent more, in some cases that could even be higher by about 400 percent in the case where a person is extremely overweight.

So if you are planning to buy a life insurance policy, then it is always advisable to check your weight and if you are overweight, then you should loose some weight and then apply for an life insurance. This way you can save good amount of money. Although the same does not applies for smokers, that's because for a smoker, you have to prove to the company that you have consumed any kind of nicotine for the past 12 months. In many cases some companies also extend this period to five years.

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