Hello fellow losers, I wanted to let everyone know about a financial benefit that we might not be thinking about as it pertains to weight loss. Back in 2015 I took out a plan when I was over 300 lbs and 26 years old for a 20 year term life policy and locked a $250,000 death benefit for $551/year. I spoke to my agent to let him know about my weight loss (and now I weigh less than my agent!) and after blood, urine and a weight check, I was able to lock a new policy rated at 233 lbs and am now paying $490 for a 20 year policy as a 31 year old non-smoking male with a $500,000 death benefit. $61 less per year for TWICE the death benefit. If you're married and ESPECIALLY if you have children or make considerably more than your spouse, you should be taking out a term life policy to protect against an early death, just in case. For very obese people, this can be challenging. Only one company wanted to insure me back in 2016, and now my agent was able to get me the best rate from 4 companies who were interested in insuring me. They do "penalize" you if you have lost the weight in the current year, and don't take all of the weight loss into your ratings, but with the company I got (Midland I think), they rate men in the 230s-260s at the same premium, so the penalty effectively rated me at 265 but was the same rate. Start shopping around if you've lost considerable weight from the last time you took out a policy!!
[link] [comments]
from loseit - Lose the Fat https://ift.tt/2GJ8Gtz
No comments:
Post a Comment