High performance sports can have an impact on insurance rates. Why? Because most sports of this nature include a risky component that the insurer must offset with higher premiums or by offering rated, simplified, or guaranteed issue insurance if the applicant does not qualify for traditional coverage.
However, where does bodybuilding fall on this spectrum? When it comes to life insurance and bodybuilding, do insurers consider it a risky sport? We talked to three large insurance companies to find out. Here is what they had to say.
Question #1: Can professional bodybuilders qualify for fully underwritten life insurance?
| Assumption Life | Canada Protection Plan (CPP) | BMO | Anonymous |
| Yes | Possibly, subject to a full underwriting review and MIB | Yes | Yes |
Question #2: Does current performance enhancing drug use (PEDs – steroids and growth hormones) automatically disqualify someone from fully underwritten life insurance?
| Assumption Life | Canada Protection Plan (CPP) | BMO | Anonymous |
| Yes | Yes, it is a decline but they can qualify for guaranteed issue coverage. | Current use is considered a decline. | Current PED use is a decline. |
Question #3: Can someone using PEDs qualify for simplified issue life insurance, assuming no other underlying health issues?
| Assumption Life | Canada Protection Plan (CPP) | BMO | Anonymous |
| No, as PEDs are considered a drug and we have a question on drug usage in the past three years. | Performance enhancing drugs is limited to Guaranteed Acceptance Life non-med up to $50,000. | BMO does not offer any simplified issue products. | No |
Question #4: How long would someone have to be off PEDs to qualify for a fully underwritten life insurance policy?
| Assumption Life | Canada Protection Plan (CPP) | BMO | Anonymous |
| Any current usage is a decline, however, if it was short-term usage of less than one year and the client is now abstaining, less than seven years would be considered – but with an added 250% rating on the premium. If the client uses PEDs long-term, over one year of usage would be rated higher, with a possibility of a decline. Depending on the amount and duration of use, for longer usage and larger amounts, ratings will increase and declines will be more common. | Client would need to be off PEDs for 10-15 years for consideration. | About seven years. | For reconsideration, it depends on several factors including the amount and duration of use, other drug use, overall health (e.g. other medicine used, special diet, etc.), and lifestyle (other sports, alcohol and drugs, dangerous sports, etc.), and secondary medical complications. |
Question #5: Do insurance carriers look at only the build table (height and weight/body mass index) when underwriting a bodybuilder, or do they take into account body fat levels? For example, would someone 5″10 and 275 lbs at 30% body fat be underwritten in the same way as someone 5″10 and 275 lbs at a 10% body fat level?
| Assumption Life | Canada Protection Plan (CPP) | BMO | Anonymous |
| We look at height and weight ratio and BMI; we do not take into consideration the body fat. | Body fat levels are taken into consideration. | Yes, they would be underwritten the same way. | Body fat is not considered as a metric. |
Question #6: What other lifestyle and health factors are looked at when underwriting bodybuilders?
| Assumption Life | Canada Protection Plan (CPP) | BMO | Anonymous |
| We look for other associated drug usage and any psychiatric disorders. We will request a doctor’s report. We will do bloodwork to make sure liver enzymes are normal and that hepatitis B, C, and HIV are negative. | Mental health, liver function tests, hepatitis, and drug use. | Lifestyle factors and prescribed meds for injuries or psychological reasons. | We look at other medications, any underlying health issues, and lifestyle considerations. |
Looking for Life Insurance for Bodybuilders?
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When it comes to finding life insurance for bodybuilders, it can be a challenging task. This is where professional insurance brokers come into play. By consulting with an experienced insurance broker, bodybuilders have access to someone who is knowledgeable about the insurance market trends and understands the specific policies designed for athletes. Brokers can customize policies according to the client’s specific needs, which is especially important for bodybuilders who may require more specialized coverage due to their unique lifestyle. Brokers have connections with multiple insurance companies, which means they can offer better options than directly approaching an insurance company. In many cases, brokers can contact the insurer and ask pre-screening questions to find out if their client will be successful with a standard, rated, simplified issue, or guaranteed issue policy. Bodybuilding is a great sport, but each bodybuilder is different. Some rely on PEDs, some do not; some have PED usage far in their history, while others have current usage or other underlying factors. When you need life insurance for bodybuilders, check with a broker. It’s a risk-free way to get the coverage you need and to have your questions answered. |
Expert tip from Mathieu LeBlanc
“Testosterone Replacement Therapy (TRT) wouldn’t be assessed along the same lines as Steroids and other. It’s not an automatic decline like recreational PED use. Most cases can be approved with standard rates as long as there are no other ratable impairments and other factors are favorable (re: being well followed and compliant with dosages, compliant with recommended routine testing and results of the testing are favorable, not being prescribed due to a long history of previous PED abuse, no other medical conditions that would be adversely affected by such a treatment.” About Mathieu LeBlanc |
When it comes to finding life insurance for bodybuilders, it can be a challenging task. This is where professional insurance brokers come into play.
By consulting with an experienced insurance broker, bodybuilders have access to someone who is knowledgeable about the insurance market trends and understands the specific policies designed for athletes. Brokers can customize policies according to the client’s specific needs, which is especially important for bodybuilders who may require more specialized coverage due to their unique lifestyle. Brokers have connections with multiple insurance companies, which means they can offer better options than directly approaching an insurance company. In many cases, brokers can contact the insurer and ask pre-screening questions to find out if their client will be successful with a standard, rated, simplified issue, or guaranteed issue policy.
Bodybuilding is a great sport, but each bodybuilder is different. Some rely on PEDs, some do not; some have PED usage far in their history, while others have current usage or other underlying factors. When you need life insurance for bodybuilders, check with a broker. It’s a risk-free way to get the coverage you need and to have your questions answered.
Expert tip from Mathieu LeBlanc
“Testosterone Replacement Therapy (TRT) wouldn’t be assessed along the same lines as Steroids and other. It’s not an automatic decline like recreational PED use. Most cases can be approved with standard rates as long as there are no other ratable impairments and other factors are favorable (re: being well followed and compliant with dosages, compliant with recommended routine testing and results of the testing are favorable, not being prescribed due to a long history of previous PED abuse, no other medical conditions that would be adversely affected by such a treatment.”
About Mathieu LeBlanc
