You Just Might Save Money on Your Life Insurance!
You are probably familiar with the personal rewards that come from living healthier. Eating a nutritious diet and getting enough exercise help you feel better and can lead to a longer life. Making better food choices and leading a more active lifestyle can help prevent many of the common health issues that plague people. A rewards program allows you to get benefits for activities that improve your overall health.
The same healthy habits that improve your quality of life also make you less of a risk to your life insurance company.
If you think your efforts to live healthier should be rewarded, we couldn’t agree more! It isn’t fair for you to pay the same premiums and get the same terms as someone who engages in unhealthy habits.
Healthy Living Rewards
Insurance companies have programs that help you monitor your efforts and understand what types of rewards you have available.
Many companies use a points system where they assign a certain number of points to different activities. The more points you collect, the greater the rewards will be.
Some companies offer continuing rewards so that the rewards grow bigger as you grow healthier. Sometimes they total your points over a period of time (usually one year) and determine which status your earnings qualify you for. For example, someone with enough points to achieve silver status might earn bigger rewards than someone with a bronze status.
Some examples of rewards include:
- Workout Gear
- Fitness Devices
- Gift Cards
- Travel Rewards
- Discounts or Free Gym Membership and Enrollment
- Discounts on Healthy Food Purchases
- Lower Monthly Premiums
How It Works
Wearable Devices, Self Reporting and Physicals
Insurance companies use a number of tools to monitor your lifestyle changes including self-reporting, records of annual physicals, and results from activity trackers like Fitbit.
A wearable device like Fitbit is easy-to-use. It just fits on your wrist or clips onto your clothing. Many people already use this modern version of a pedometer to monitor their activity level, how many calories they burn, and even their quality of sleep.
To use a device like Fitbit to provide your activity to the company, you must link the device to their online account. This allows them to see your activity in real time.
In 2016’s insurance Barometer Study*, the results show that more than half of millennials and nearly one-third of people overall are extremely likely to wear an activity tracker and share their results with a life insurance company in return for financial rewards. When you consider the number of people in this country already wearing an activity tracker, that number more than doubles!
They Will Help Achieve Your Health Goals
The insurance companies also use a number of resources to help you learn the best ways to live a healthier lifestyle and keep you on track. They may send out texts to let you know how many points you just earned with your morning workout. Online blogs and informative emails help you make better choices on what to buy at the grocery store or when eating out.
The best reason for living healthier is to enjoy the personal benefits that come with a lifestyle change. Thanks to the new rewards programs offered by life insurance companies, living healthier is an even more rewarding option.
Asurea offers Life Insurance, Mortgage Protection Life Insurance, Medicare Supplements, Final Expense Insurance, Disability Insurance, Retirement Planning products and more. To find out more, click on the ‘Get A Quote’ button below. Want to have articles just like this delivered to your email? Just enter your email address below and click ‘Subscribe.’
This information is provided for general consumer educational purposes and is not intended to provide legal, tax, investment, or medical advice.
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