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Lifestyle Reward Programs

by | Life Insurance


By Lee Mengel

On the first day of every month, most of us receive an SMS from the bank notifying us that our life insurance debit order has come off. When this happens, we often think of how these funds could be used elsewhere, reducing debt, increasing retirement savings, investments, paying school fees or saving for a holiday.

Actively participating in the lifestyle reward program offered by your life assurer can help you to achieve these goals.

It’s not all about free movies

Traditionally, these programs are associated with cheaper gym fees, free movies, discounts on flights and other spend partners. However, are you aware that your life policy contribution could also be discounted by up to 60%? This could either be by a reduction in your monthly contributions or by receiving paybacks over various cycles.

How does it work?

All it takes is spending a small amount of time at the beginning of the year completing the various online questionnaires. After that, you will take a fitness assessment every 6 months and an annual health assessment at a network pharmacy (usually paid for by your medical aid). Some assurers even offer assessment days, where they have dedicated facilities for you to complete all required questionnaires and assessments. It’s that easy!

I meet with clients who are living such lively, active, healthy lives. They regularly participate in activities ranging from mountain biking, trail running and CrossFit, to SUPing, yoga and kite surfing. Valuable points could be accumulated if these activities were logged with a reward program.

Get Smart

We all have smartphones, and most of us have smartwatches too. To track your activity is as simple as downloading the assurer’s app along with a compatible fitness tracker app, and your activity is then automatically recorded, uploaded and points applied. Voila!

With a little bit of effort, all of us can significantly improve our “status”. The resulting discounts on life policy contributions would allow you to use those savings on activities, experiences or that long-awaited holiday for you and your family! Who wouldn’t want a little more of those?

It just requires a little discipline. So put aside a little time, log on to your program, and following the pointers for “how to get more points”. In this way, you can maximize the applicable discounts as well as numerous other potential benefits.

Feel free to contact us should you need assistance.

You will be glad that you did.