DES MOINES, IOWA--(BUSINESS WIRE)--
Insurance discounts can be a powerful incentive for Americans to maintain healthier lifestyles, according to a new survey. Nine out of ten consumers (92%) would be motivated to maintain a specific weight level and four out of five (81%) say they would be more likely to have an annual check-up if offered a life insurance discount or incentive.
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Insurance discounts can be a powerful incentive for Americans to maintain healthier lifestyles, according to a new Global Atlantic survey conducted by Echo Research. Among the findings, millennials were more likely than older age groups to indicate that they would be motivated by discounts to get annual check-ups (85% vs. 79%) and maintain a specific weight level (95% vs. 90%). Additionally, individuals with household incomes of $50,000 per year or more would be more likely than those with lower incomes to be motivated to get annual checkups (87% vs. 75%) or maintain a specific weight level (95% vs. 90%). (Graphic: Business Wire)
These are some of the findings of a Global Atlantic Financial Group national survey of 1,003 U.S. adults about wellness, health and insurance conducted in July 2018 by Echo Research, a global market analytics firm.
Millennials were more likely than older age groups to indicate that they would be motivated by discounts to get annual check-ups (85% vs. 79%) and maintain a specific weight level (95% vs. 90%).
Additionally, individuals with household incomes of $50,000 per year or more would be more likely than those with lower incomes to be motivated to get annual checkups (87% vs. 75%) or maintain a specific weight level (95% vs. 90%).
Global Atlantic offers the Wellness for Life® rider on permanent life insurance policies. This rider gives policyholders discounts on insurance costs if they visit the doctor at least once every other year and manage their weight within a range determined when they buy the policies.
“September is National Life Insurance Awareness Month, and there is no better time for savvy consumers to take advantage of riders that reward them for making healthy decisions,” said Dave Wilken, President, Life, at Global Atlantic. “In the same way that good drivers can save money on auto insurance, people with healthy lifestyles can save money on life insurance.”
September marks the 10 year launch anniversary of the Global Atlantic Wellness for Life® rider. The firm was the first insurance company to launch such a rider and has to date issued over 50,000 Wellness for Life® riders. The company’s experience indicates that customers that have purchased the rider have better life expectancy.
To read more about Global Atlantic’s Wellness for Life® program, please click here.
The Global Atlantic Wellness Survey was completed by Echo Research using an online omnibus methodology among a random sample of the general U.S. adult population. A total of 1,003 interviews were completed between July 23 and 25, 2018. The overall margin of error for this sample size is +/- 3.1% at the 95 percent confidence level.
About Global Atlantic
Global Atlantic Financial Group, through its subsidiaries, offers a broad range of retirement, life and reinsurance products designed to help our customers address financial challenges with confidence. A variety of options help Americans customize a strategy to fulfill their protection, accumulation, income, wealth transfer and end-of-life needs. In addition, Global Atlantic offers custom solutions and responsive service for the capital, risk and legacy-business management of life and annuity insurance companies around the world.
Global Atlantic was founded at Goldman Sachs in 2004 and separated as an independent company in 2013. Its success is driven by a unique heritage that combines deep product and distribution knowledge with insightful investment and risk management capabilities, alongside a strong financial foundation of over $60 billion in assets.
Products and riders are issued by Accordia Life and Annuity Company, 215 10th Street, Des Moines, Iowa. Rider form number ULWFL-E14
Wellness for Life® Rider availability varies by state.
Products and riders are not available in New York.
Global Atlantic Financial Group (Global Atlantic) is the marketing name for Global Atlantic Financial Group Limited and its subsidiaries, including Accordia Life and Annuity Company, Commonwealth Annuity and Life Insurance Company, Forethought Life Insurance Company and Global Atlantic Re Limited. Each subsidiary is responsible for its own financial and contractual obligations.
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