Expecting To Gain Those Holiday Pounds?

November 13, 2006 | By: | Comments (1) | Posted in: Life

In a matter of days, the holiday season will return, and all those extra calories will once again propagate every corner of our lives, just like the seasonal decorations overtake the crowded malls. If during this time, you become a Jekyll-and-Hyde with uncontrollable snacking — wielding a 6-week license to feast, remember that your holiday pounds can easily tip you into a more expensive term life insurance category. If you are like the millions of Americans that are also on this threshold, you have three options: 1.) secure lower rates before the feast, 2.) maintain a strict holiday diet, or 3.) pay more afterward.

People comfortably accept a certain amount of holiday weight gain; knowing that they can simply use one of their New Year’s resolutions to undo such indulgence. However, the timing of the classic weight loss resolution clashes head-on with the other New Year’s resolution: Getting finances in order — especially as it relates to term life insurance.

It’s no secret that the more a person weighs in relation to their height, the greater their risk for long-term health complications and a shortened lifespan. Therefore, it should be no surprise that carriers use a simple formula to determine term life insurance policy costs: “The more you weigh, the more you pay.”

To be considered for preferred life insurance rates, it is important to keep your height to weight ratio at or near the ideal range for your body type. If you already have a term life insurance policy, and you have recently lost weight and kept it off, be sure to notify your carrier. If your carrier fails to reward you with lower rates, it may be time for you to shop around for a new policy. Carriers use different health ratios to determine rates, therefore, shopping around may uncover potential savings and better coverage. At any time, you may request a medical examination to expedite the process. Your rates are locked in for the term of the policy, so the carrier cannot penalize you for any gained weight. If in fact, the medical examination determines that your health has improved, you should pursue lower rates.

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