Check out ways to get discounts on insurance policies by staying fit

After covering healthcare and medical expenses of policy holders, insurance providers went a step further to offer discounts and other perks for people who maintain their fitness, and these benefits have been formalised as part of insurance products by IRDAI guidelines.

Policies such as Earn and Burn from Care Health Insurance, provide 200 reward points for walking a targeted amount of steps every day. Similarly Aditya Birla provides an insurance plan that returns 100% premium for walking 10,000 steps a year.

Smoking is injurious to health but cigarettes can also burn a hole in your pocket, as those defined as preferred smokers with no other health issues need to pay a lower premium, while it goes up for smokers with lingering health issues.

Insurance is essential for diabetics who have to take care of medical expenses as they battle the disease for years, and Bajaj Allianz among others, encourages patients to control HbA1C levels by offering discounts.

Health insurance providers also offer discounts to customers based on their health data that is sourced via apps and devices such as Fitbit. A survey in 2019 had also showed that 70% Indians were ready to share health data for discounts on insurance premium.