Life Insurance – weigh the options

 Since the days of rationing in the 1940s and early 1950s the diet in this country has improved out of all recognition ……… and then slowly gone downhill. The ration limits of very small amounts of fatty foods (no butter at all), along with miniscule amounts of meat and a generally low calorie value to any meal produced a lean and in many ways fit population, although lacking in staying power as far as energy was concerned. The end of rationing provided for a rapid upward movement in the quality of food which quickly became highly nutritious, but competition between producers saw the introduction of ready meals and ‘fast food’ outlets.

The pendulum had swung too far and further problems have been created in the lack of exercise being undertaken by children in our ‘couch potato’ society. Parent’s concerns about the safety of their children have further exacerbated the problem, by keeping children indoors and away from harm. The result is now obvious even to the casual observer – our children, young adults and even many of the older age groups are generally overweight. Estimates claim that within 20 years 1 in 3 girls and 1 in 4 boys will be clinically obese, which means that their excess weight is likely to endanger their health.

This situation is as obvious to insurers as it is to anyone else; in fact it is probably more obvious to them because they make their living by forecasting trends related to risks. This has to mean that life insurance is under the microscope as never before, to enable insurers to stay ahead of events. Naturally they have already taken action to cover themselves against any possible upward movement in the number of claims which can be attributed to excess weight. This means that any applicants for life cover whose weight is significantly above acceptable levels may be refused cover, or at best may have to pay a very much higher premium.

Whilst the average reasonably fit and not overweight applicant for insurance is likely to be accepted without medical examination, it is to be expected that excess weight will be seen as reason for a check-up. Should this reveal any significant health problems, the applicant may be required to pay an increased premium or may be refused cover altogether, depending on the risk factor. This is reasonable action on the part of the insurers who are not in business to take unnecessary risks.

Is there any answer to the problem that those most likely to need illness or life insurance cover are the ones who will be required to pay most for their cover? Perhaps there is – the obvious solution is to lose weight and get fit – but this is not a solution which is available to everyone. Those who can lose weight and get fit should do so, for their own benefit as well as for reduced insurance costs.

What about those for whom weight loss evades them no matter what they try? There is a vast amount of information available on a host of different diets, and weight loss classes are widely available. If you have followed any of these to the letter and lost a pound or two and then ‘stuck’, what should you do next? A visit to your GP for advice should be of some help, and in some cases it may be. In other cases the GP doesn’t understand the problem, and the patient is sent on his or her way with an admonishment about overeating and lack of exercise. This may be true in some cases, but there are others where the problem is beyond the patient’s control, but they are left to sort out their own salvation.

This can be especially worrying when in some areas of the NHS there is talk of refusing certain treatments to some overweight patients. When you get to the situation where in a survey group of hospital doctors, almost half of them support this attitude, then there is a major problem. Notably there was little mention in this group of the possibility of checking on the causes of the patient’s condition.

If you haven’t tried diet and exercise give it a go – you could find that it gives you a whole new lease of life, provides new friends (as well as comrades in adversity) if you join a club, and may prove to be somewhat expensive for the necessary new sizes in clothing. It can also give you the opportunity to save money by contacting a broker for life insurance on the ‘new’ you!

If you are one of the unfortunates for whom this does not work, see your GP and be determined to explain your case to him; see if between you, you can find a solution. If this also fails it would appear that your next port of call is likely to be online. Shop around for a broker, put your case to him and ask for information on the best policy to suit your circumstances. When he comes up with a good proposal, you may yet show why the more rotund of us are generally reckoned to be the jolliest!