Could a Wellness Program Lower Your Life Insurance Costs?

Could a Wellness Program Lower Your Life Insurance Costs?

To protect yourself and your loved ones, life insurance is necessary for adults of any health level. However, wellness programs can be a great way to improve your body while simultaneously lowering your insurance premiums. Here’s how you can take advantage of these programs.

How Life Insurance Wellness Incentives Work

A nurse checking someone's blood pressure

In general, many life insurance premiums can be reduced for those who don’t fall into certain lifestyle categories. For example, losing weight or giving up smoking can mean a reduction for many companies. This is because individuals in these categories may have higher medical costs and more frequent health problems, meaning life and health insurance companies are likely to incentivize their healthier patrons.

The Elements of a Wellness Program

Unlike cut-and-dry categories like smoker or nonsmoker, wellness programs are long-term ways for individuals to improve their health. These programs, which are often offered through employers, may involve regular progress check-ins that could test your cholesterol, weight, and heart rate. Additionally, these programs often provide information and resources to help you make healthier choices such as exercising regularly or eating a healthier diet.

The Two-fold Benefits of Wellness Programs

An effective wellness program may result in a healthier life and longer lifespan, as long as you follow it correctly. However, it can also mean that you could see your insurance premiums drop. This is because lower cholesterol and blood pressure can allow you to qualify for preferred ratings, which could mean saving hundreds per year. As if that weren’t enough, many employers offer funding for wellness programs, including options like gym membership reimbursement, wellness counselors, or even nutritionists. Employers do this because they can benefit from lower healthcare costs, fewer sick days, and happier employees through wellness programs. All of this means you could effectively become healthier and reduce your insurance premiums all on your company’s dime.

When it comes to wellness programs, you don’t have much to lose. For more information about our life insurance and other offerings such as home insurance or business insurance, call Focus1 Insurance Group at (541) 772-3120 or request your free quote online.