Health insurance companies encourage policyholders to adopt a healthier lifestyle by offering incentives like discounts and lower premiums.
This approach has had a positive impact on the health of the policyholders but also “on the overall health of the populace”, says Rakesh Goyal, director of Probus Insurance Broker.
The health insurers encourage policyholders to exercise regularly, consume healthy foods, and do preventive health check-ups. Thus, policyholders are incentivised to stay healthy, resulting in lower healthcare costs.
Venkatesh Naidu, CEO of Bajaj Capital Insurance Broking, says that to encourage healthy lifestyles, insurers offer wellness programmes that incentivise good health practices and reward policyholders for making healthy choices. These programs can include gym memberships, teleconsultation services, and coaching or counselling services, he adds.
The wellness programs help policyholders lead a healthier lifestyle and provide the necessary support to make important lifestyle changes. Through the incentives, insurers hope to encourage policyholders to adopt healthy habits and reduce the risk of chronic diseases.
In addition, some health insurers provide policyholders with wearable devices or fitness apps to track their fitness activities. By doing so, they can earn discounts on their renewal premiums. This is another way to incentivize policyholders to stay active and track their fitness progress.
Experts say the health insurers’ efforts to promote a healthy lifestyle among their policyholders are a welcome change and can go a long way in improving the health and well-being of the population.
However, it is essential for insurance companies to ensure that such incentives and discounts are fair and do not discriminate against individuals who may have pre-existing medical conditions or disabilities that may prevent them from leading a healthy lifestyle.
On the other hand, by incentivising healthy lifestyles and offering rewards, like lower premiums, insurance firms benefit from reduced healthcare costs, while policyholders benefit from improved health and financial savings
