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Life Insurance -
Obesity means higher life insurance - 13/05/2008 |
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People who are overweight can prepare to have to pay for higher life insurance premiums in future, warns the Association of British Insurers (ABI).
Companies providing life insurance generally are becoming fussier about lifestyle factors when people apply. Smoking has always been top of the list of activities frowned upon, but the increasing awareness of obesity in the UK has now attracted their attention more than ever.
Being overweight by itself is not so much what is disliked by the insurance company, but the illnesses relating to the condition and which may stem from being obese. Such conditions will not ordinarily be covered by the policy. As the obesity level increases, so does the risk of associated illnesses like diabetes, heart disease and strokes. This will only add to the problem of rising life insurance quotes.
It seems the short term response to tackle the overall problem of obesity is to hit the consumer in the pocket where it hurts, thus providing them with an incentive to slim down. It of course does not tackle the problem of poor people who may be overweight who are then priced out of life insurance and may simply not take any cover out at all.
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