Experienced buyers can benefit from below-average prices, regardless of age or previous illnesses.
Health IQ works with top tier insurance providers such as John Hancock and Prudential to provide bespoke coverage.
What else does this innovative company have to offer? In this Health IQ test, we examine the key features so you can make an informed decision.
advantages
Disadvantages
Who is Health IQ?
Entrepreneur Munjal Shah suffered chest pains shortly after selling his first company to Google for $100 million.
The health crisis forced Shah to reevaluate his priorities and lifestyle.
He started eating better, exercising more and even ran three marathons, which inspired him to launch Health IQ in 2013 to inspire others to live healthier lives too.
Health IQ secured $35 million in initial funding and grew $5.3 billion in policies over the following 22 months.
This astronomical growth has been accompanied by numerous accolades including PM Society Digital Award Winner for Market Access and one of the Fastest Growing Companies in Healthcare from GrowJo.
The company sits right at the top of the life insurance market. It serves as a middleman, approving policies but not undertaking underwriting.
Because of this, Health IQ does not have a financial rating. The organization outsources this to more than two dozen carriers.
Life insurance made easy.
Agents not required.
Get quotes and sign up online without speaking to an agent. But we’re here if you need us.
Impartial, competent advice.
Get unbiased insurance education from licensed experts and also avoid shady sales pitches.
What Makes Health IQ Different?
Health IQ works with policyholders to ensure they stay healthy while saving thousands of dollars in premiums over the long term.
According to the company’s website, it is the “only company that combines your current health, health literacy and active lifestyle” to calculate life insurance rates.
The result: Health IQ customers pay 41% less than policyholders elsewhere.
Health IQ builds risk factors into its discounts. For example, people with a high body mass index, blood pressure, or cholesterol start at higher rates.
When they work hard and lower any of these risk factors, Health IQ gives them credit and lowers their premiums.
Features and Benefits
term life insurance
Term life insurance offers flexible and affordable insurance protection. It protects you for a certain period of time with terms ranging from 10 to 30 years.
The policy limit depends on your health and underlying risk factors.
Health IQ offers discounted rates for those with a high level of health awareness. You can save 25% in premiums when scoring in the elite range.
Health IQ also lets you convert term life insurance to life insurance if you want guaranteed coverage.
Full life insurance
Life insurance includes many of the same benefits and features as term life insurance.
The difference lies in the term of the policy. Health IQ has you covered throughout your life, so your beneficiaries receive a guaranteed death benefit.
The policy is about 33% cheaper than traditional life insurance.
Life insurance for type 2 diabetics
Heath IQ markets itself to traditionally healthy individuals, although they are willing to make exceptions.
They work with the Protective Life Insurance Company to create policies for type 2 diabetics.
People with diabetes need to meet certain requirements, including proper blood sugar management and an active lifestyle.
Note that Health IQ does not require any medical examinations. It uses quizzes and polls to measure how healthy or health conscious you are.
Standard policies require no reviews and provide coverage up to $500,000.
discounts
Most people sign up for Health IQ because of the discounts. With an Elite test result or an active lifestyle, you automatically save 4% on policy fees.
You also get a discount for:
These perks show that Health IQ insurance rates shouldn’t be based on arbitrary statistics, but on the way you live your life and the risks you take – or don’t take.
Staying in shape and reducing medical risks are essential to living long and healthy lives, and Health IQ provides the structure and incentives to lead people into that future while saving money in the process.
Health IQ availability
Health IQ offers consumers exclusive rates, which requires rigorous qualifications compared to other insurance providers.
For example, applicants must have health literacy and active lifestyle credits to qualify.
Health IQ developed this system after Shah discovered that living healthy was strongly correlated with a lower risk of premature death and health complications.
They accept people with pre-existing medical conditions, including type 2 diabetes.
These applicants must have a controlled blood glucose level and an elite score on the Health IQ Diabetic Quiz.
There are no restrictions based on location or gender, and policies are available in all 50 states plus Washington, DC
Life insurance made easy.
Agents not required.
Get quotes and sign up online without speaking to an agent. But we’re here if you need us.
Impartial, competent advice.
Get unbiased insurance education from licensed experts and also avoid shady sales pitches.
coverage in minutes.
You can get life insurance coverage within minutes of receiving your quotes and application.
Claims Process & Guarantee
Health IQ does not write policies, so your beneficiaries cannot file a claim through them.
You must contact the insurance provider, be it Mutual of Omaha, Securian, Transamerica or others.
Health IQ Life Insurance Review
Health IQ is aimed at health-conscious consumers who want to reward their lifestyle with life insurance.
Policies are ideal for swimmers, cyclists and distance runners with low premiums and built-in incentives.
You have to undergo several tests to get coverage, but the quality justifies the investment in my opinion.
If you’re healthy and need life insurance (and don’t mind the extra testing), you should click here to start the process.