What is BMI (Body Mass Index)? BMI is a ratio that is used by life insurance companies to estimate individual’s health and fitness condition, and it is considered when determining insurance premiums. BMI is calculated as the mass of an individual (in kilograms) divided by his/her height (in meters) squared.
Typically insurance companies will use BMI tables to sort policy applicants into different categories. Here is a high-level perspective on some BMI values.
|Very severely underweight||less than 15|
|Severely underweight||from 15.0 to 16.0|
|Underweight||from 16.0 to 18.5|
|Healthy, normal weight||from 18.5 to 25|
|Overweight||from 25 to 30|
|Moderately obese||from 30 to 35|
|Severely obese||from 35 to 40|
|Very severely obese||over 40|
Life, Disability and Critical Illness Insurance Tip:
Be healthy, save on insurance: If you are in a good health and have a good build when you apply for a life insurance policy (based on BMI), insurers will reward that with lower premiums.
If you already have a life insurance policy and got in shape compared to your state when you signed up for a policy (e.g. spending hours in a gym), you can request a review of your life insurance premiums.
Our Publications related to Life Insurance
Introduction There were many articles written about men paying more for car insurance than women, but what about other insurance types? Do women always benefit from lower insurance rates? We took on this question and systematically went through various life insurance, disability insurance, and critical illness insurance by consulting with professionals who had the answers. […]
The arrival of COVID-19 has pushed Canadians, more than ever before, online for finding and applying for insurance and banking products. It is not easy, though, to make the right choice without knowing if a particular insurer will be there when you need them the most. As the largest Canadian review platform with thousands of […]
Overall, insurance is considered a somewhat boring, though necessary, topic. On top of that, it is not always clear – there are plenty of various types of life insurance products in Canada that work differently. I decided to explain it in a bit of a different and funny way – I hope that you will […]
The life insurance landscape in Canada is quite unique. The infographic below shows all the key players and their size, reflecting their assets under management (AUM) based on life and wealth segments of the company’s business. scroll further down to continue reading In Canada, the majority of insurers fall under the umbrellas of three large […]
By RateHub.ca When it comes to budgeting for your vacations, travel insurance is one of those things that’s often overlooked. It’s easy to understand why: we have publicly funded healthcare in Canada, so many people assume that benefit applies to wherever we travel in the world. Unfortunately, that’s not the case. The cost of seeking […]