Want a Good Toronto Online Life Insurance Plan with Great Rates? Lose a Few Pounds

Everyone knows life insurance focuses on a person’s health and well-being, but what are the chances that life insurance also promotes them? One CBC segment hosted by Jonathan Crowe caught the attention of financial advisor Jackie McCann-Scott. One person’s journey to qualify for an insurance application made him lose 130 lbs.

True Story

”In the clip, he talked about his incredible weight loss journey of 130 pounds! When Crowe asked what prompted the lifestyle change for this musician who has battled being overweight a lifetime, he answered, “I was turned down for life insurance because I was overweight. That was enough for me to realize that obesity is something major. I decided three years ago to commit to losing the weight.”

The state of obesity in Canada is, for the most part, unclear. Statistics Canada reported a drop in the number of obese males in 2012 but also an increase in overweight males (overweight and obese are two different things). Meanwhile, the number of obese women increased, while that of overweight women remained almost static.

Due to the health risks related to obesity, it’s normal for insurance companies to present obese men and women with higher insurance rates. To determine this, insurance companies look at the person’s body mass index (BMI), among other factors. Insurance companies each use their own formulas in computing a person’s premium, most of them using the person’s BMI. A person’s premium may increase by 25 percent (again, rates vary among companies) from the base premium if his BMI is over 30. The increase in premium shoots up further if a person’s BMI reaches 40 and beyond and there is a real possibility a policy may be outright DECLINED. It is always advisable to consult Toronto online life insurance websites and speak to a broker about which insurance companies are more forgiving of weight and lifestyle choices.

However, as mentioned earlier, BMI is only one factor. McCann-Scott further explains several factors in play such as lifestyle.

“It’s not just weight issues that can be addressed when applying for life insurance. Everyone knows that smokers will pay higher premiums than their non-smoking counterparts. But when you see how much more (and especially when you actually have to pay those higher premiums), the choice to “butt out” can seem a lot more appealing.”

When applying for Toronto term life insurance plans visit top insurance quoting sites like Insurance Advantage to quickly determine your rates. Credible sites should also have a listed telephone number so you can talk directly to a licensed insurance agent about any health issues you have and where the best place to apply is.

(Source: “Applying for Life Insurance can improve your health…true story.” The Telegram, March 7, 2014)