Stay healthy and get the benefit of lower life insurance premiums –
this is the essence of Aviva USA’s Wellness for Life Program,
launched in conjunction with US medical services company Mayo
Clinic’s Mayo Clinic Health Solutions. The insurer’s programme
comes as an optional rider on several fixed indexed universal life
policies for a one-time cost of $100 and enables customers to
qualify for rate reductions in their policy’s cost of insurance by
having regular physical examinations by a doctor. In addition,
customers can increase their potential savings by maintaining their
body weight within a range established specifically for them when
they purchase the policy.
“What is so innovative and exciting about the Wellness for Life
Program is that it provides incentives to life insurance customers
to lead a healthier lifestyle,” said Aviva USA’s executive
vice-president and chief product officer, Brian J Clark. “For the
first time ever, customers have the opportunity to reduce the cost
of their life insurance by meeting some wellness-oriented
Aviva USA did not provide specific savings that could be achieved.
However, Clark explained that the programme is designed to reward
the customers who meet the wellness criteria. The amount of
potential savings on their cost of insurance will be based on
improvement in life expectancies for all programme participants.
Any savings will be reflected in rate reductions for the customers
who meet one or both wellness criteria.
Customers who opt for the programme rider complete a confidential
online health questionnaire, the results of which will be used to
create a personal, password-protected web page with information
customised for the individual, including a personalised wellness
Participants will also have access to Mayo Clinic’s wellness and
health information and tools on the internet, and will be eligible
for special offers and discounts on additional Mayo Clinic wellness
services, resources and programmes.
The programme’s benefits are available during a policy’s entire
life so that customers who do not qualify for cost savings in a
particular year can qualify in any future year. There are no
penalties for not qualifying for savings in any year.
Aviva plans to introduce the programme on a limited scale and
expand it nationally in early 2008.