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How wellness benefits can help reduce your health insurance premium

When renewing a policy, health insurers may award reward points or reduce the rate for subscribers who achieve wellness requirements. Both parties benefit from this feature.

  • Jan 19, 2023

Key takeaways

Here are a few of the wellness benefits that health insurance companies include in their medical plans.
Health insurance companies offer wellness benefits in the form of wellness points that can be redeemed for discounts on premium payments or for membership perks at any organization they have partnered with. These health insurance plans focusing on wellness aim to encourage proactive healthy living.

  • Reward Points that incentivize Health Behavior
  • Second medical opinion
  • Exciting concessions on renewal
  • A Wellness Coach that helps you do it right

According to the recent Insurance Regulatory and Development Authority (IRDAI) guidelines on wellness and preventive measures ask, insurers to compensate the insured who qualifies for reward points and meets the wellness requirements. There are numerous programs and methods available today to monitor a person’s health.

However, it can occasionally be difficult to do that due to the hectic schedule and stress. This is true when wellness benefits are used, as this guarantees optimal use and encourages policyholders to prioritize their health in exchange for rewards and benefits.

Here are a few of the wellness features that health insurance providers offer.

Reward Points that incentivize Health Behavior

With these reward points, you can get discounts or other benefits on various medical check-up programs, including those offered by diagnostic centers, hospitals in a network that serve healthcare institutions, pharmacies, etc. Insurance companies use a variety of smartphone applications with the monitoring feature to keep tabs on how well you manage your well-being. Basically, this is done to encourage healthy behaviors and promote a fit lifestyle.

The insured can use these reward points by exchanging them for gym, marathon, cyclotron, yoga centers, daily workout training, and other fitness-related activities.

Second medical opinion

Certain health plans come with the benefit of providing a second medical opinion wellness benefit. This feature allows the insured to get a second medical opinion for any chronic or serious medical issues. The insured person is not required to pay for this second opinion. But it’s important to realize that no insurance provider is accountable for any mistakes made in a medical opinion.

The standard procedure is first to seek a claim form that has been correctly submitted, along with copies of any medical documents, the investigation report, and any current prescriptions (if any). However, under the insurance arrangements, the insurers would not be liable for any errors or omissions brought on by e-opinions.

Exciting concessions on renewal

The insured is encouraged to monitor his healthy lifestyle by providing enticing discounts on wellness benefit plans. There is no additional cost to the insurance provider for these wellness benefits. You do not need to sign up separately for the wellness program plan. The policyholder instead acquires insurance the day they or their family are granted access to individual or family health insurance.

All of these advantages, though, heavily depend on the insurer you choose, as they vary from one insurer to another.

A Wellness Coach that helps you do it right

As a component of the wellness program, several insurance companies provide a wellness coach or mentor. This is done to provide guidance to the policyholder on a variety of topics, including healthy eating, exercise, nutrition, quitting smoking, and keeping a healthy weight.

The insurers’ wellness coaches provide additional support to policyholders to encourage them to lead healthier lifestyles.

The policyholders are awarded points or other advantages for meeting the goal established for the covered during this mentorship process. The insured can later exchange these points for benefits that can be used for various medical treatments.


It is advised that you carefully study all information relevant to the health insurance plan and its value additions to avoid any potential misunderstandings. The sort of wellness benefits supplied varies depending on the insurer.

It’s crucial to avoid becoming distracted by the rewards and perks offered by your insurance plan for wellness treatments. Not all insurance policies will give you comparatively uniform rewards.

Depending on the wellness treatments that are covered by health insurance policies, wellness benefit terms and restrictions vary from insurer to insurer. To prevent any unpleasant surprises during the claim procedure, it is strongly advised to research the insurer’s policy wordings and verify internet reviews before making a final decision.

Kotak e-Term

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  • Life Cover till 85 years for Life & Life Secure Option
  • 3 Payout Options
  • Special Rates for Women
  • Option to exit the policy with premium refund at the age of 60*
  • Special Rates for Non-Tobacco Users
  • Free Medical Check Up every 5th year**

Ref. No. KLI/22-23/E-BB/2435


- A Consumer Education Initiative series by Kotak Life

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