Life Insurance for Overweight People
Something not many of us consider when buying a life Insurance plan is our height and weight.
Life insurance is one of the best investments that can ever make for the future of your loved ones. It’s one of the only ways that you can guarantee that they have the money that they need, regardless of what happens to you.
Life insurance and BMI may not even seem like an issue for someone who is healthy and has an average weight, but it actually affects everyone.
Can Overweight People Get Affordable Life Insurance?
Yes, in most cases you can, as insurers are quite forgiving when it comes to pricing life insurance for overweight people…and some insurers are more lenient than others too.
If you have a Body Mass Index of 33.5 or less, we should find you cover for the same price as everyone else.
Insurance companies underwrite life insurance for overweight people on a case by case basis depending on age, whether you smoke, if there are other weight related health issues etc.
Recently we succeeded in getting Life Insurance at the standard price for a man who is 6ft 2 and 19st 7lb stone. He had a BMI of 35.1 He was a Munster Rugby Player and trained nearly every day and lifted weights on a weekly basis. We had to argue his case but we got him standard rates eventually.
The average person’s Body Mass Index (or height to weight ratio) is about 26. However even if you have a Body Mass Index of up to 45, we are still confident that we can find you life insurance.
We specialise in finding life insurance for overweight people, as well as critical illness insurance and income protection.
So, just because you’re overweight, don’t assume you will have a loading (increase) in your premiums.
We are experts in knowing which insurers will consider your application, given your high body mass index, with a wealth of knowledge and years of experience. Most importantly, we do all the work for you making this a hassle-free and streamlined process.
If you have an existing plan, and you were loaded because of your weight, give us a call and we will review your plan and we will do our best to get your premiums lowered.
If you’re worried about your weight affecting your life insurance, call us here.
As experts in this area we will hopefully get you affordable cover…
..or click here to complete the short enquiry form below and I will get back to you as soon as I can.
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How Much Life Insurance do I Need?
How much life insurance do I need?
This a question that we get asked many times a day in the One Life office.
Life Insurance is possibly the best financial tool to protect your family and loved ones from unforeseen circumstances.
Have you, however, ever wondered how much insurance – particularly life insurance — is actually good enough for you? For instance, you might have several insurance policies, but are you also adequately insured?
You need to know this, not only as an individual but as a consumer too – particularly in view of the fact that a majority of Irish are still either uninsured or under-insured.
So how much…
– money should he put aside now to receive the right benefit our children’s education?
– should we save now to receive the right benefit for our daughter’s marriage?
– do we want for our family to get as a benefit in case of our untimely demise?
Please use this easy to use calculator to get an approximate figure, then you can go to our quote generator to find the cheapest quotes based on your details.
Life Insurance with Depression
Life Insurance with Depression
Can you get Life Insurance if you have Depression?
Anxiety and depression related illness has become very common in Ireland over the last decade and even more so in times of challenging economics, high unemployment, as we have experienced since 2008. Not only is it quite common, but depression is present in several forms and levels of severity.
We all get depressed from time to time, due to life events or hormonal swings. How can you tell if your mood changes are normal or if you require treatment for depression? Even though we all like to self-diagnose, only a physician can determine if someone suffers from clinical depression.
What is depression?
According to aware.ie they describe depression as ‘a mental health condition which affects a person’s thinking, energy, feelings and behaviour. It’s not just having a bad day. If you have symptoms of depression you may not want to talk about it. However, talking about how you feel to your GP or family is a positive first step in learning how to manage Depression’.
Of course, there are different types of depression ranging from mild depression, which has some impact on daily life, to Moderate depression which has a significant impact on daily life and severe depression makes the activities of daily life nearly impossible.
In this article I will answer a few questions that I hope will make things more clearer for you.
Can I apply for Life Insurance with a history of depression?
What do the Insurance Companies look for?
What is the likely outcome?
Can I apply for Life Insurance if I have depression?
Yes, of course you can. The good news about applying for term life insurance when you have a history of depression is — yes, you can qualify for coverage! Your outcome and resulting premium cost will depend greatly on a number of factors, including the type of depression, your treatment history, the level of control, follow up, your medical history and more. While you can control the outcome to some extent through good follow up and lifestyle habits, other uncontrollable factors will come into play when the life insurance company reviews your application
What do they look for?
Life insurance companies want to see that people with a history of depression
(1) have received or are receiving treatment, and
(2) have completed regular follow up visits per doctor’s orders. Also important is the presence of necessary lifestyle changes, such as exercise, weight control, no tobacco use, etc.
The life insurance company you apply with will be looking specifically at:
- Your age at diagnosis
- The amount of time since diagnosis
- The duration and severity
- The number of episodes per year and their severity
- Medication used and compliance with medication
- If you require frequent changes in medication (significant because the life insurance company must be sure the disorder is well controlled)
- Any suicide attempts or thoughts of suicide
- Any hospitalisations/emergency room visits for depression
- Concurring disorders (such as anxiety or PTSD)
- Current alcohol or substance abuse, or history of such
- If you are disabled due to depression
- Any other major health problems
What is the likely outcome?
We’ve helped hundreds of people apply for term life insurance and many of those people had a history of depression. Here are a few things we’ve learned:
Well controlled mild/moderate cases of depression will often be approved at a Standard rating class.
Very mild cases of depression, or those that were situational and have since recovered, may be approved at a standard rating class. However, loadings will get worse, and the premium will be higher, along with the severity of the depression.
The life insurance company will usually decline applicants if there have been suicide attempts or thoughts of suicide.
Very mild cases of depression, or those that were situational and have since recovered, may be approved at a Preferred rating class. However, this is case by case.
What to do now?
As always, please discuss your situation with your life insurance broker, and provide as much information as you can.
At One Life Insure, we are here to help direct you to the best life insurance company based on your individual circumstances. We are specialist life insurance advisors who know where to apply to get the most appropriate plan and the cheapest cover for you.
We at have plenty of experience in dealing with insurers and from years of advising people with depression we know which insurer will be most lenient to your condition.
If you would like some more information or advice on this matter, please gives us a call on 01-5390410 or email me on tom@onelifeinsure.ie and I will be happy to help.
www.onelifeinsure.ie
Contact us via this contact form and we will respond as soon as we can.
How does Income Protection work ?
This video that simply explains how Income Protection works?
https://www.youtube.com/watch?v=fp-SnAEuquk
For a FREE instant Quote click here
Mortgage Protection or Life Cover – am I paying too much?
How do you know if you’re paying too much for Mortgage Protection or Life Cover?
We all want to do the very best for our family and to make sure that we can provide them with financial security. But what would happen to your family’s finances if you were to die? It’s certainly not a comfortable thought, or one that any of us like to dwell on for too long.
If you have a young family then the financial turmoil created by a sudden death of a parent can be devastating. The most common questions I get asked when it comes to Mortgage Protection or Life Cover are how much cover do I really need and how can we save money?
How much cover do you need?
You have to consider several aspects before calculating the cover you need such as the number of dependants you have and their ages. Whether there is a second earner or not and the level of cover they require and the cost of providing for childcare as well as any long-term borrowings or loans.
How can you save money?
On the life assurance, mortgage protection, and serious illness front, we have seen premiums fall massively in the last few years. If you bought your home during or before the ‘Boom Times’ you have probably paid ‘Boom’ prices for your life cover. You want to ensure that you are availing of the lowest rates available in the market. This is a job your bank cannot do as it can only advise on its own products.
Therefore, you would be wiser to engage the services of a financial broker who will find the best insurance quotes in the market for you, and also look for extra benefits that some insurers have. A great example of this is Aviva will add ‘Best Doctors’ (a unique healthcare experience by providing access to the world’s best medical experts should serious illness strike) for free to all life and mortgage protection plans.
Switching plans is easy but please do not consider canceling an existing policy until you have your new policy in place and are happy with it.
If you have any other questions, don’t hesitate to contact OneLife
Protecting your business
Have you your own business? Are you involved in a family business or a Director in a SMW? Have you ever considered the impact of loss of a director/ partner through death, or ill health? It can potentially have very negative consequences on a business. Unfortunately, this is a huge issue for business owners, as research has shown that over 65% of Irish companies and partnerships currently have no business protection.
As a business owner, you most likely protect your property, vehicles and equipment with various forms of insurance, but have you considered what would happen to your business if you died prematurely, what would the financial impart be on your family and your business?
Business protection is an effective solution that can ensure there is a capital lump sum available to the deceased business partners share. Having the means to buy a deceased partners share allows the remaining partners to retain full control of the running of the business.
There are a range of business protection plans available to help business help survive the death or serious illness of someone that would result in a financial loss for the business. The death of a director, 
shareholder or partner may bring distress and grief to any organisation. The deceased’s family may be unfamiliar with the business, and may have cash-flow problems after losing his/her income. Business Insurance makes it possible for the directors to buy the shares from the family or next-of- kin, which could be the best option for all concerned.
Below is a summary of the various types of plans available:
- Co-director Insurance can bring security and stability to a company’s directors. In the event of the death of one of the directors, it will allow the surviving directors to buy the deceased’s shares from their next-of- kin if these unfortunate events occur.
- Partnership insurance – This is a specific kind of insurance policy that protects the financial security of a business partnership by compensating a deceased partner’s estate for their share of the partnership.
- Key Person cover provides protection against the loss of an extremely valued employee of high financial or strategic importance to a business.
The key to finding the most appropriate plan for your business is getting the right advice. If you are concerned about protecting the future of your business, feel free to contact OneLife for advice on this matter.
Withdraw up to 30% from AVC and PRSA AVC funds
Are you in an occupational pension scheme? Have you contributed to an AVC (Additional Voluntary Contribution) plan?
There is good news as there is a once off option to withdraw up to 30% of the Value of Additional Voluntary Contributions (AVCs) inc PRSA/ AVCs, however the deadline is approaching.
Individuals who have AVCs or PRSA/ AVCs will be entitled to access up to 30% of their value on a once off basis at any time within 3 years of the date of the passing of the Finance Act 2013. Effectively this means that the option will be available until 26th March 2016. The option applies to AVCs only (including PRSA/ AVCs).
The amount drawn down will be taxed at the member’s marginal rate of income tax. No Universal Social Charge (USC) or PRSI deduction will be made in respect of the AVC drawdown. The administrator will automatically deduct income tax at your marginal rate.
For more information on how to drawdown your AVCs or if you wish obtain the relevant forms for this drawdown contact us OneLife