Australia, Obesity, and Income Protection Insurance

Australia, Obesity, and Income Protection Insurance

Are you one of the 60% or so of Australians that has a major battle with their weight (1)? Our modern lifestyles make it extremely difficult to implement the health recommendations that we're flooded with ... we know that we should eat more fruits and vegetables, but it's so much faster to unwrap a muesli bar at our desk. We know that we need to get active - but when you're working 10 hours a day, finding the energy to exercise is a minor miracle.Overweight and obesity have major impacts on health - and that means that if you have a BMI (Body Mass Index) over 30, income protection insurance is well worth further consideration. Here's why.

Overweight, obesity and health

A preference for high-fat, high-sugar foods is all too human - it comes from a time when we could be left without food for days at a time, without warning, and need to store fat to stay alive. However, in today's environment, following our natural inclinations has serious health impacts. Overweight and obese people are at increased risk of (2):

Diabetes

Heart disease

High blood pressure

Kidney diseases

Some types of cancer

Stroke

Gout

Sleep apnoea

Oseteoarthritis

Polycystic ovarian syndrome

This is why income protection insurance is so important - your weight makes it far more likely that you'll suffer a disability that lasts a lot longer than your employer-provided sick leave. Income protection insurance doesn't improve your health - but it does help protect your family, your assets and your sanity in the event that you get sick or are injured.

Income protection rates and being overweight

While being overweight may have a modest impact on your income protection insurance rates, it generally isn't the difference between a policy being affordable and unaffordable.

If you need to cut down your income protection insurance rates to compensate for the increase due to your weight, you can:

Compare quotes from several income protection insurance companies

Choose a longer waiting period

Choose a shorter benefit period

Choose to have your income assessed at claim time, rather than providing proof of income when you begin your policy

Additionally, one of the rays of hope that overweight and obese people have with income protection insurance rates is that your condition is within your control. With the help of your doctor, modern medicine and surgery, and a little willpower, you can change your weight! Then you'll not only enjoy lower income protection insurance rates, but a fuller and longer life.

Resources:

1. http://www.abs.gov.au/ausstats/abs@.nsf/mf/4719.0/

2. http://www.betterhealth.vic.gov.au/bhcv2/bhcarticles.nsf/pages/Obesity

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