The Benefits of Running a Marathon: Health, Longevity and Cheaper Life Insurance

by on Aug 21, 2017

Participating in a triathlon, reaching that eight-minute mile time and passing the one-year mark living a vegan lifestyle are all fitness goals that take dedication, time and commitment to health. Health IQ provides less expensive term life insurance for health-focused and athletic people who reach these types of goals. The company bases its practice on research that shows athletic and healthy lifestyles lead to longer lives with fewer health problems. The firm’s website provides research on nine personas—health conscious people, runners, cyclists, weightlifters, swimmers, tennis players, HIIT athletes, vegans and yogis—that shows they typically live longer and have fewer health concerns such as cardiac issues, high cholesterol and diabetes. For example, the website cites a study from The Journal of the American College of Cardiology that shows runners have a 30% lower risk of all-cause mortality, a 45% lower risk of cardiovascular mortality and a three-year longer life span on average. Based on this research, the company employs a nontraditional underwriting process that favors athletic builds and good management of hypertension and diabetes, minimizes penalties for family history and takes additional cholesterol readings to protect low-carb dieters in order to offer lower quotes to healthy prospects. While all firms consider athletic and health activity in the underwriting process, Health IQ is uniquely tailored to healthy-minded people’s lifestyles.

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When entering information to receive a quote, prospects input typical information such as birthday, height and weight but also enter information about the lifestyle choice they identify with. If they are health conscious, they answer how they track what they eat during the week to stay healthy; if they are a runner, they input their mile time. Quizzes verify prospects’ health conscious knowledge so they can qualify for special rates and receive Elite Points to earn rewards, such as charity donations in their name, featured Facebook posts about their health experience and tickets to the Ironman World Championship.

Health IQ Quote Page

Rewarding people for living healthy lifestyles has been a recent industry trend. In 2015, John Hancock partnered with Vitality to offer rewards and premium discounts for healthy activity and has continued to expand the number of partnered products since. More recently, Principal introduced My Principal Lifestyle, which similarly incentivizes healthy activities, in this case specifically with gift cards. Both programs use activity trackers as a way to monitor daily activity and earn rewards. Health IQ life insurance, however, stands out in that its main reward, cheaper insurance, is for already living a healthy lifestyle at the time of underwriting, while other firms reward clients for continually working at being healthy.

For more on health incentivization from life insurers, see our posts on wellness program comparisons, Vitality rewards and the My Principal Lifestyle program.

About The Author

Haley is a Research Associate for Annuity Monitor and Life Insurance Monitor at Corporate Insight. Read more