Build Tables & Term Life Advice

[gunslinger3]

I’m 43M and besides being very heavy (6’0”, 370 lbs, 50 BMI) and having controlled sleep apnea (CPAP) and hypertension (single med) I’m otherwise healthy with no other issues that should affect coverage.

I have young twins and need to bump up my term life coverage considerably (adding a few $M) to better protect my family.

I’ve worked with a high-risk broker and his feedback was that I need to show evidence of weighing 357 lbs or less for a full year before I can get coverage, and that they’ll rate me at whatever weight I was at 6 months prior to the application.

What advice do you have for me in this situation? I’m losing weight consistently, so don’t need advice on that, but rather how to get high quality term coverage as quickly as possible.

Also, are there carriers who will structure a policy where the rating can change based on additional weight loss alone without writing an entirely new policy? This would be ideal for me but I’m not sure how common it is.

Thank you.

 

[marked]

@gunslinger3 You can usually accept the policy and then after a year request a rate improvement. They’ll want to weigh you again and possibly take new labs as well at that point.

 

[levnishbar]

@marked At that weight he might get declined though

 

[marked]

@levnishbar Yeah, probably will be a decline.

 

[qity]

@marked They'll also add half of the weight-loss back.

 

[smb123]

@gunslinger3 At 6'- 370 or with BMI up to 51.6, assuming well controlled sleep apnea, blood pressure and and all else being decent, you could qualify now at a high table rating with only a couple carriers. There is no way to adjust rate without re-applying later, but you could buy 10 year term now or soon and then replace it as you drop more weight. Good luck!

 

[gunslinger3]

@smb123 This is encouraging. What carriers?

 

[smb123]

@gunslinger3 Illinois Mutual and Security Mutual. Ideal if blood sugar, cholesterol and BP are all good, because then credits may be available for even better offers. If you can drop 10 pounds prior to applying, this can also help to secure an even lower rate.

 

[jeshurun1111]

@gunslinger3 Workplace coverage through your own and your spouse's for the moment. I'm sorry, but your probably a decline anywhere at this point.

You're on the right track with losing weight. As you do that, all 3 factors will improve. Get a policy as soon as you can and then ask for a rating improvement each year as your health improves. The worst they can say is no change, they won't reaching the previous policy. Good luck.

 

[caitlynlovesjesus]

@gunslinger3 What State are you in?