Stay healthy, reduce premiums

Aviva Life offers a unique rider to its permanent life insurance policies that will reduce the cost of insurance on an inforce policy if the policyowner meets certain medical criteria. It’s called the Wellness Rider, and here’s how it works:

As long as the insured visits the doctor for a physical every two years, s/he will qualify for a discount on the cost-per-thousand-dollars of insurance (COIs) on the policy beginning in the 3rd year. Aviva believes just visiting the doctor – no matter the results – and catching any problems early will help the insured live longer and healthier. That’s worth a discount.
An additional discount applies if the insured keeps weight within a certain range of that which was recorded at the time of the qualifying insurance exam.
COIs receive a reduction of 25 basis points per qualification level (level 1, biennial doctor visit, and level 2, weight range) for a total possible COI reduction of 50 basis points. This is contractually guaranteed.
Policyowners also receive a package of “soft” benefits provided by the Mayo Clinic, including a quarterly newsletter that has the broker’s name on it – a quarterly client “touch” that happens automatically.
The rider is available at issue only.
There is a one-time charge for the rider of $100 with the first-year premium payment.
The rider is currently available on Aviva Life contracts in 36 states (including CA).
The insured needs to keep qualifying at least at level 1 by having a physical exam every two years.

These COI reductions can drop the no-lapse guarantee policy premiums significantly over time. On current-assumption contracts, the Wellness rewards boost cash values.

For further information, click on this link to see a 7-minute presentation from Aviva: http://www.brainshark.com/aviva/wellnesssales