In a market first Asteron rewards healthy clients
No-one likes forking out for insurance premiums, and everyone likes to save money. So what if you could save 20 per cent on your insurance just because you’re healthy?
Asteron’s new ’Healthy Plus Option’ rewards Asteron Lifeguard® Life Cover policy holders with discounts of up to 20 per cent on the standard insurance premium when they meet certain health criteria, such as height-to-weight ratios and blood test results. (i)
Asteron General Manager Jordan Hawke believes the healthy minority of Australia’s population – estimated at between 5 to 15 per cent of us – shouldn’t have to subsidise those with greater health risks.
A Policy that provides what’s important to you
Recent research by Asteron(ii) showed that what consumers want most from their life insurance provider is:
“Even in a post-GFC world, times continue to be tough on a lot of households, and it’s vital for people to be able to maintain their life insurance cover in a more cost-effective way. The Healthy Plus Option is a way we can reward healthy customers with substantially reduced premiums.“
“And by combining this option with our bundling discounts, customers can save up to 35 per cent on their premiums, giving them extra to spend on enjoying life,” Mr Hawke said.
“Alternatively, customers could choose to pay the same premium and increase their cover by 20 per cent.”
Discounts for the life of the Policy
And the discounts are for life! Healthy Plus Option holders can maintain the 20 per cent discount year-on-year simply by providing annual health measures.
And, even if they choose not to re-submit results, Healthy Plus Option holders will continue to enjoy benefits for the term of the policy, with the discount reducing by 1 per cent annually to a guaranteed 10 per cent discount for the life of the policy.
To be eligible for the 20 per cent discount under the Healthy Plus Option, customers first need to be an Asteron Lifeguard policyholder, aged between 30 and 50, and have a minimum sum insured of $250,000.
Customers will also be required to provide information on certain risk criteria, including:
And medical history and diagnostics (measured by the customer’s GP) for things such as:
Other Asteron Lifeguard Policy Enhancements
Loyalty Funeral Benefit:
Loyalty Funeral Benefit with Life Cover Level 70 policies – $15,000 paid towards the cost of a funeral at time of death once a 10 year qualifying period has been reached. This benefit is guaranteed for life, for current and past policyholders who have qualified for the benefit.
Asteron Life! Health and Wellbeing Program:
Policy holders have 24/7 access to Asteron Life!, an online health and wellbeing program with tools and resources that provide members with tailored nutrition, exercise and lifestyle plans for optimum health.
For more information, or to interview Jordan Hawke, contact Helen Han: 02 8275 3763; 0457 535 639;
(i) Asteron Life! Whitepaper Changing the Face of Life Insurance, May 2010
(ii) Asteron Life! Mini Usage & Attitudes Study and Product Proposition Testing, March 2010
The ability to bundle products and get benefits such as discounts, and
An insurer that cares ’beyond the premium’
Lifestyle and occupational hazards
Not having smoked for at least five years
Body mass index (BMI needs to be 28 or less)
Waist to hip ratio
Blood test (a ’Fasting MBA20’, or Multiple Biochemical Analysis)
Urine test for the presence of albumin, glucose and blood