Get Rewarded for Improving Your Health!

Russell Cain Updated: 19 January 2023

Certain insurers offer their members specific benefits and rewards for meeting set health or wellness goals. Popular rewards you may be able to take advantage of include discounts at major retailers, vouchers, discounts on flights and select discounts on your policy. Examine all of the rewards programs available to find an insurer that offers a rewards programme that suits your lifestyle.

Insurers who offer rewards programs

Here are some of the reduced premiums and wellness rewards for maintaining a healthy lifestyle that are now available from multiple insurers in the Australian life insurance market, such as:

AIA Vitality

  • Premium Discounts

    Receive an initial discount of 17.5% for lump sum policies and 7.5% for income protection. Only $11.50 a month.

  • Virgin Australia Discounts

    Get up to 50% cash back on eligible domestic and international flights.

  • Free Shopping Vouchers

    At every 5,000 points earn retail gift vouchers to spend with leading retailers such as Myer and Ticketmaster.

An award-winning health and wellness programme, AIA Vitality members can enjoy discounts off their premiums when actively building on their health knowledge and improving their health. You can look forward to many rewards such as Endota Spa vouchers and movie tickets.

As a new AIA Vitality member, you’ll start on the Bronze level and work your way up to Platinum by earning AIA Vitality point. You can earn Vitality points when completing online assessments and accomplish your fitness goals. Visit our AIA Vitality page for more ways to earn points and increase your level of reward.

Zurich LiveWell

Zurich Australia offers eligible customers access to their LiveWell digital wellness program. The program supports members to live a healthier life by rewarding them for being physically and mentally active within their community.

Depending on the number of points you earn during a membership period, you’ll either be in the Gold, Silver, Bronze or Blue rewards tier. The more points you have, the higher your status and the more discounts you’ll receive off your life insurance premiums. Learn more about Zurich LiveWell.

ClearView Health Rewards

  • 10% Discount

    Eligible customers can receive up to 10% off their insurance premiums.

  • Built In

    All new customers have the Health Rewards Program automatically built in.

  • Top Up

    Customers have the opportunity to annually top up their discount with a simple yearly survey.

ClearView’s Health Rewards supports you in attaining healthy habits by providing a 10% discount off your premiums when you’ve completed their health survey. For more information visit our ClearView Health Rewards page.

NEOS Preferred Lives Discount

  • 7.5% Discount

    You’ll be eligible for a 7.5% discount on your premiums if you have a BMI below 28.5, non-smoker, accepted at standard rates.

  • New customers

    You might get the 7.5 % preferred life discount and another 10% off your premiums when applying for the first time.

  • Built In

    These discounts will be built into your policy without you having to do anything.

NEOS life insurance offers new customers a 7.5% discount on their life insurance, TPD cover and Critical Illness Insurance when they have a BMI equal to or below 28.5, haven’t smoked in over 3 years, and have no exclusions or loadings on their policy.

Find out what other discounts you may be eligible for by visiting the NEOS Preferred Lives Discount page.

TAL Health Sense

  • BMI 19-28

    Discounts of between 7.5% to 15% depending on number of products purchased.

  • Ongoing Discounts

    Discounts remain for the life of the policy.

  • TAL Health Sense Plus discount

    If you have an eligible policy with stepped premiums, a 5% TAL Health Sense Plus discount will be automatically applied to your premiums if your BMI is between 19.0 and 28.0.

If you’ve taken out a policy through TAL’s Accelerated Protection Plan, you could receive up to a 15% discount on your TAL Life Insurance or Total and Permanent Disability premiums. This particular discount is based on your body mass index (BMI). Calculate your BMI and determine whether you qualify for this discount by visiting our TAL Health Sense page.

Meeting your health goals

You know you’re supposed to get 8 hours of sleep, exercise 3 to 4 times a week, eat your fruits and vegetables and drink 8 glasses of water. You’ve learned the difference between ‘good’ and ‘bad’ fats and that eating a whole egg won’t give you a heart attack. You’ve read the labels, calculated your daily calorie intake and even tried doing cross fit. So why are you still struggling with your health?

Resisting repeated temptations and willing yourself to exercise takes a mental toll; your willpower becomes depleted. Willpower can be defined as your capacity to delay short-term gratification (eating that third lamington) in order to achieve a long term goal (losing weight).

Willpower researcher Roy Baumeister, PhD, describes three necessary components for achieving long term goals:

  • Set clear goals and establish your motivation for wanting to change
  • Monitor your behaviour toward that goal
  • Strengthen your willpower

That’s great advice, but who has the time to constantly update their goals, monitor their behaviour and track progress? That amount of effort alone would diminish your willpower.

How your insurer could help you improve your health

Insurance companies have created a more sustainable alternative – health and wellness rewards. Different insurers use different incentive schemes, but all share the common goal of offering participants incentives or rewards to drive healthy decision-making and attaining long term goals.

Wellness incentives help keep you motivated and support you when your self-control tapers off. A comprehensive rewards program is one of the most effective means of managing health risks while maintaining a good physical condition.

We’re not saying to choose your insurer based on their rewards program; buying insurance is a big decision, with many variables. When it comes to your health once size doesn’t fit all, rather take wellness incentives as another consideration to help you manage your risk and increase your number of healthy days.

Cash in on being healthy

What’s good for your health is good for your wallet. It is human nature that people will engage in new behaviours if they believe there’s a reasonable reward, even more so when that reward is monetary. Many insurers support customers in reducing their health risks, such as high blood pressure and obesity, by providing generous premium discounts when health goals are met. Not only are you healthier and fitter, you’ve saved some money as well.

Wellness programs also benefit the insurer by reducing the amount of claims received due to preventable illnesses, generally resulting in them lowering premiums.

Choosing an incentive scheme

By maintaining a healthy lifestyle you’re able to achieve significant premium discounts and potential rewards. First you need to decide which wellness incentive suits your needs. To help you choose, consider the following questions:

There’s no quick fix for becoming healthy. It takes time and dedication. Wellness programs act as your support system, keeping you going and motivated when your willpower becomes depleted.

Rewards programs motivate you to live a longer, healthier life. They also provide you with financial incentives.

Speak to one of our insurance specialists to find out how you can get cash back from your insurance premiums for being healthy or improving your health!

Frequently asked questions and answers

  • What are the benefits of a life insurance health rewards program?

    The benefits of a life insurance health rewards program typically include financial incentives for making healthy lifestyle choices, such as quitting smoking, exercising and eating a balanced diet. The program can also provide access to free health screenings, discounts on medications and preventive care services, such as annual physicals and immunizations. Additionally, policy holders may be eligible for special rewards or bonuses when they reach certain goals in their health plan, such as achieving healthy weight or cholesterol levels.
  • How do I sign up for a life insurance health rewards program?

    To sign up for a life insurance health rewards program, you will need to contact your life insurance provider. They will be able to provide you with the details and necessary forms to enroll in their health rewards program. You may also need to complete any relevant medical examinations in order to qualify for the program.
  • How do I know how much I’ve earned in health rewards?

    Once you are enrolled in the program, your provider should provide you with information on how much you have earned in health rewards. You may be able to view your rewards online or through a mobile app if available. Additionally, your insurance provider may send out periodic statements detailing any rewards that have been earned.
  • Can I use my health rewards to pay for my life insurance premiums?

    Some insurers allow you to use your health rewards as payment towards certain life insurance premiums. You should check with the insurer to make sure that this is an option. Generally, you won’t be able to cash out funds to pay for your premiums, instead your discounts are typically applied automatically.
  • What happens if I don’t use my health rewards?

    If you don’t use your health rewards, the points will expire and can no longer be used. Additionally, you may miss out on any promotions or special offers that are associated with your health rewards program.

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