Year in and year out, Americans commit (and recommit) themselves to getting fit in the new year. “Stay fit and healthy” and “lose weight” ranked as the top two new year’s resolutions in one study; “save more, spend less” consistently appears among the top five.
Want a little motivation to help you achieve your fitness goal and save money at the same time? You might want to make applying for life insurance your new year's resolution, too. That's because your weight impacts your life insurance rates, or even whether you'll be approved for a policy.
We crunched the numbers. How much might the average American save on 20-year term life insurance if he or she achieved—and maintained—a new year’s resolution of losing weight? We used data from the term life insurance we offer, but these overall trends tend to hold true throughout the industry.
Jessica is the average American woman. She’s 5’4” and weighs 169 pounds (the national average for women). She's 38 years old (the average American’s age). Her name is even the most popular female name of the eighties.
Assuming Jessica’s a nonsmoker, weighing just ten pounds less (159 pounds) would make insurers view her risk profile more favorably. That could save her nearly $3,200 on $1 million in term life insurance premiums, over a 20-year term. This is based on rates for our term life insurance policy in 2018.
On the other hand, if she were ten pounds heavier, she could spend close to $4,400 more over the course of 20 years. (Of course, these are both hypothetical quotes based on Jessica’s situation, and don’t apply to everyone.)
Meanwhile, Michael is the perfectly average American male, at 5’9” and 196 pounds. Like Jessica, he’s 38 years old (and his name was also a super popular choice in the eighties).
Let's say this hypothetical man were 15 pounds slimmer, at 181 pounds. He could save close to $3,800 over 20 years! That's for a $1 million term life insurance policy, based on rates for a term life insurance policy through Fabric. As with the example above, this quote is based just on Michael’s situation, specifically.
By a similar token, if he were 15 pounds heavier, he could end up spending close to $5,500 extra over the course of his 20-year term.
Life insurance prices aren’t based solely on your height and weight—they are based on an insurer’s view into your overall health and personal situation.
Yep, we know: BMI isn’t a perfect measure of real health. But it’s a common rule of thumb in the insurance industry, used to give you a rough sense of how much insurance might cost you. This is an internet infographic, after all.
If you want to find out a real, accurate price based on your own unique—and nuanced—health and personal situation, you can fill out an application (which only takes about ten minutes) with your individual information.
Our goal is to help you get motivated today to actually achieve your new year’s resolutions this year. There are lots of reasons to be healthy—you can run a half marathon, join a pickup soccer team and get the most enjoyment out of your family. Life insurance is just one bit of inspiration among many.
Whether you’ve resolved to lose weight, save money, finally apply for life insurance or all of the above, we’re rooting for you!
Fabric exists to help young families master their money. Our articles abide by strict editorial standards.
Fabric by Gerber Life exists to help young families master their money. Our articles abide by strict editorial standards.
Information provided is general and educational in nature and is not intended to be, and should not be construed as, financial, legal, or tax advice. Laws of a specific state or laws relevant to a particular situation may affect the applicability, accuracy, or completeness of this information. Federal and state laws and regulations are complex and are subject to change. We make no warranties with regard to the information or results obtained by its use, and disclaim any liability arising out of your use of, or reliance on, the information.
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Term Life Insurance Policy Series ICC22 2205-4004 WSA and Accelerated Death Benefit Rider policy series ICC22 2205-2623 WSA (and state variations where applicable) issued by Western-Southern Life Assurance Company, Cincinnati, OH which operates in DC and all states except NY, and distributed by Gerber Life Agency, LLC using Fabric Technologies. Gerber Life Agency, LLC is an affiliate of Gerber Life Insurance Company (est. 1967). All are members of Western & Southern Financial Group (Western & Southern). Issuance of coverage for Term Life Insurance is subject to underwriting review and approval. Please see a copy of the policy for the full terms, conditions and exclusions. Product provisions, availability, definitions and benefits may vary by state. Payment of benefits under the life insurance policy is the obligation of, and is guaranteed by, the issuing company. Guarantees are based on the claims-paying ability of the issuer. Products are backed by the full financial strength of the issuing company.
All sample pricing is based on a 30-year old F in Excellent health for the coverage amount shown and a 10-year term policy, unless otherwise stated. Gerber Life Agency, LLC (GLA) is an insurance agency licensed to sell life insurance products. GLA will receive compensation from Western-Southern Life Assurance Company for such sales. The NAIC Company Code for Western-Southern Life Assurance Company is 92622.
Western-Southern Life Assurance Company's A+ Superior A.M. Best Rating: Superior ability to meet ongoing insurance obligations (second highest of 13 ratings; rating held since June 2009). Ratings are subject to change from time to time. The ratings shown here are correct as of 09/03/2022. For more information about a particular rating or rating agency, please visit the website of the relevant agency.
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Gerber Life is a registered trademark. Used under license from Société des Produits Nestlé S.A. and Gerber Products Company.
In the State of California, Gerber Life Agency, LLC is known as and does business as Gerber Life Insurance Agency, LLC.