What if we told you that you could be rewarded for leading a healthy lifestyle? Yes, you read it right. According to IRDAI, insurance companies are asked to incentivise the eligible insured to eat clean and adopt a healthy lifestyle. Referred to as ‘Wellness Benefits’ in Health Insurance, insurers bestow wellness points that could be encashed as concessions on premium payments or as membership benefits. The aim of the programme is to encourage people to prioritise their health and make proactive decisions for healthy living.
To judge which policyholders are eligible for Wellness Benefits, insurers monitor their health via smartphone applications or digital devices. The points earned then could be encashed against premiums or used as concessions on different medical check-up programmes like pharmacy bills, consultation fees, diagnostic centres and network hospitals’ healthcare facilities. There are certain Wellness Benefits guidelines set by IRDAI for insurance companies protecting the interests of a Health Insurance policyholder. Let’s see what they are:
The insurer needs to summarise Wellness Benefits points to respective policyholders annually.
Have a clear communication medium for wellness points.
Explain the process of redeeming the wellness points clearly to the policyholder.
Be liable for any difference in the administration of the reward programme.
For a policyholder, it can become quite challenging to live healthily in the face of urban routines. Wellness Benefits offer additional motivation to push through the stress of daily life and make conscious healthy decisions. What are some of the exciting Wellness Benefits or Rewards offered under Health Insurance plans? Explore with us:
Reward points to encourage a healthy lifestyle
The reward points earned by the policyholder can be redeemed to avail discounts for medical tests, pharmacy bills, diagnostic checkups or fitness memberships like gym, yoga, marathon, cyclotron and daily workout training.
A personal wellness coach
Many insurers provide a personal wellness coach under the wellness programme to help reach fitness goals. It would mean mentoring diet intake, exercise routine, nutritional balance, quitting smoking and much more.
Second medical opinion
Some plans come with the benefit of a second medical opinion where a policyholder can seek a second specialist guidance for specified diseases and surgeries. However, the insurance company is not in any way liable for any errors arising from medical opinion.
Attractive concessions on renewal
Access to exciting discounts on renewal acts as an additional motivation to policyholders. Insured care for their health, which in turn drives insurance providers to offer great discounts during renewal periods.
The wellness programme is designed to encourage the insured to embrace a healthier lifestyle by motivating them via discounts and beneficial services. Wellness Benefits differ from one insurer to another so read your policy carefully, reviewing the terms and conditions before taking the final call.
