Health IQ Review // Life Insurance for the Healthy in 2020

By Sa El

Updated November 2, 2020

Our Verdict

4.7

heallth iq logo

Most insurance companies provide policies but do nothing to compensate people for healthy lifestyle choices such as regular exercise or a balanced diet.

Health IQ is changing that. The company actively rewards policyholders for making positive health changes with affordable rates.

heallth iq logo

Our Verdict

4.8

Most insurance companies provide policies but do nothing to compensate people for healthy lifestyle choices such as regular exercise or a balanced diet.

Health IQ is changing that. The company actively rewards policyholders for making positive health changes with affordable rates.

Savvy shoppers can take advantage of below-average pricing, regardless of their age or preexisting conditions.

Health IQ partners with top-rated insurance providers, like John Hancock and Prudential, to deliver tailored coverage.

What else does this innovative company have to offer? In this Health IQ review, we’ll explore the key features to help you make an informed decision.

Pros

  • Excellent rates for people with active lifestyles
  • Works with more than two dozen carriers
  • Highly affordable
  • Positive customer reviews

Cons

  • Not a direct insurer
  • No online applications

Who Is Health IQ?

Entrepreneur Munjal Shah suffered chest pain shortly after selling his first company to Google for $100 million.

The health scare forced Shah to reevaluate his priorities and lifestyle.

health iq review

He began eating better and exercising more and even ran three marathons, which inspired him to launch Health IQ in 2013 to inspire others to be healthier too.

Health IQ secured $35 million in initial funding, and in the following 22 months, gained $5.3 billion in policies.

That astronomical growth has come with a fair share of accolades, such as the PM Society Digital Award’s winner for Market Access and one of GrowJo’s Fastest Growing Companies in Health.

The company sits squarely at the apex of the life insurance market. It serves as a middleman that approves policies but doesn't do any underwriting.

That’s why Health IQ doesn’t have a financial rating. The organization outsources that to more than two dozen carriers.

THE SIMPLY INSURANCE WAY

Life Insurance made easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get life insurance coverage within minutes of getting your quotes and applying.

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 run.

According to the company website, it’s 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 instance, people with a high body mass index, blood pressure, or cholesterol start with higher rates.

If they work hard and lower any of those risk factors, Health IQ gives them credit and lowers their premiums.

INSURANCE WHERE YOU LIVE

Life insurance by state.

Features & Benefits

Term Life Insurance

Term life insurance offers flexible and affordable coverage. It protects you for a specified 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 anyone with high health awareness. You can save 25% on premiums for scoring in the elite range.

Health IQ also lets you convert term life insurance into a whole life policy if you want guaranteed coverage.

Whole Life Insurance

Whole life insurance includes many of the same benefits and features as term life insurance.

The difference lies in the policy duration. Health IQ covers you for your entire lifetime, so your beneficiaries receive a guaranteed death benefit.

The policy is approximately 33% cheaper than traditional whole life insurance.

Life Insurance for Type 2 Diabetics

Heath IQ markets itself towards traditionally healthy individuals, though they are willing to make exceptions.

They partner with Protective Life Insurance Company to create policies for type 2 diabetics.

People with diabetes must meet specific requirements, including proper blood sugar management and an active lifestyle.

Note that Health IQ doesn’t require medical exams. It uses quizzes and surveys to gauge how healthy or health-conscious you are.

Standard policies don’t require exams and provide up to $500,000 in coverage.

Discounts

Most people join Health IQ for the discounts. An elite test score or an active lifestyle automatically saves you 4% on policy rates.

You’ll also get a discount for:

  • No or minimal tobacco usage
  • No record of substance abuse
  • No DWIs, DUIs, or driver’s license suspensions
  • Normal blood pressure
  • Healthy body mass index
  • Proper chronic pain management
  • A nutritional diet

These perks demonstrate that for Health IQ, insurance rates shouldn't be based on arbitrary statistics, but on the way that you live your life and the risks you do—or don't—take.

Staying in shape and reducing medical risks are essential to living a long and healthy life, and Health IQ provides the structure and incentives to push people towards that future and save money in the process.

Health IQ Availability

Health IQ offers exclusive rates to consumers, which necessitates rigorous qualifications compared to other insurance providers.

For instance, applicants must have health literacy and active lifestyle credits to qualify.

Health IQ developed this system after Shah discovered that healthy living correlates strongly with lower risks for premature death and health complications.

They do accept individuals with preexisting conditions, including type 2 diabetes.

These applicants must have controlled blood sugar levels 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, along with Washington, D.C.

THE SIMPLY INSURANCE WAY

Life Insurance made easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get life insurance coverage within minutes of getting your quotes and applying.

Claims Process & Guarantee

Health IQ doesn’t write policies, so your beneficiaries can’t file a claim through them.

They will need to contact the policy provider, whether that is Mutual of Omaha, Securian, Transamerica, or otherwise.

Health IQ Life Insurance in Review

Health IQ caters to health-conscious consumers that want life insurance to reward their lifestyle.

Policies are ideal for swimmers, cyclists, and long-distance runners featuring low premiums and built-in incentives.

You will have to undergo several tests to earn coverage, but the quality justifies the investment in my opinion.

If you are healthy and need life insurance (and don’t mind the additional tests) you should click here to get the process started.


Sa El

About the author

Sa El is the Co-Founder of Simply Insurance and a licensed Insurance Agent with over 12 years of experience in the industry.  He specializes in Life & Health Insurance and is certified in Long Term Care Insurance in the state of Georgia. He is also an Official Member of the Forbes Finance Council, a licensed real estate agent in the state of Georgia (License #382602), an entrepreneur, insurance educator, and freelance writer.

Sa El is the Co-Founder of Simply Insurance and a licensed Insurance Agent with over 12 years of experience in the industry.  He specializes in Life & Health Insurance and is certified in Long Term Care Insurance in the state of Georgia. He is also an Official Member of the Forbes Finance Council, a licensed real estate agent in the state of Georgia (License #382602), an entrepreneur, insurance educator, and freelance writer.

Sa El

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