Step Challenges and Health Insurance Discounts: Do They Really Work?

Walking is no longer just a fitness goal; it's also a key part of the health insurance conversation. Insurers increasingly reward policyholders for an active lifestyle through step challenges and renewal discounts.

This may make you wonder whether these incentives are real or just a marketing gimmick. Let us find out in detail about step count health insurance discounts here.

What are Step Challenges in Health Insurance?

Step challenges are wellness programmes where policyholders earn rewards for meeting daily or monthly walking targets. Depending on the insurer and policy, these rewards can include:

1. Renewal premium discounts
2. Wellness points
3. Health assessments
4. Vouchers or other benefits

How Do Step Challenges Work?

Bajaj General Insurance has incorporated step-count-based wellness benefits into certain types of health insurance policies through the 'Walk to Win' programme. For the qualifying health insurance policies, here is how it works:

What are the Benefits of Step Count Health Insurance Discounts?

Step count health insurance discounts can make wellness more rewarding by combining healthier habits with potential financial savings. This can benefit policyholders in different ways:

Encourages Regular Physical Activity

Daily step targets can motivate policyholders to stay active and build a more consistent walking routine. This can also help make physical activity a regular part of their everyday lifestyle.

Offers Financial Savings

By meeting prescribed activity targets, policyholders can earn discounts on renewal premiums. This gives them an added financial incentive to work consistently toward their daily step goals.

Promotes Preventive Healthcare

These programmes shift the focus from treating illnesses to encouraging healthier everyday habits through preventive health rewards.

Makes Wellness Measurable

Step counts provide a simple, trackable way to monitor daily activity and work toward defined health goals.

Improves Engagement

The rewards can encourage policyholders to interact more regularly with the insurer's wellness features and health resources.

What is the Eligibility Criteria for Step Count Health Insurance Discount?

To qualify for a step count wellness discount, the following conditions apply at Bajaj General:

1. The benefit applies to insured members aged 21 years and above.
2. The insurer's mobile application can track eligible steps.
3. The step count criteria apply strictly to each eligible insured person, not as a combined family step count.
4. The wellness discount is linked to renewal of the base policy and is determined based on qualifying activity completed during the previous policy year.

How Much Money Can You Actually Save with Step Count in Health Insurance?

Let us understand how much one can save with a step count discount in health insurance with a practical example. For instance, if an eligible renewal premium were ₹30,000.

1. 5% discount: ₹1,500 savings
2. 10% discount: ₹3,000 savings

However, the renewal premium can change due to factors such as age, product pricing, coverage changes, taxes and other applicable adjustments. Therefore, a 10% discount should not automatically be interpreted as paying exactly 10% less than the previous year's premium.

What to Check Before Purchasing Health Insurance with Step Count Discount Benefits?

Before relying on just a walking rewards insurance discount, you need to carefully determine the policy terms and conditions for:

1. The step target amount, as it shows how much activity is required.
2. Check qualifying days, as missing a few can affect eligibility.
3. Check the tracking method to see how an insurer will monitor steps.
4. Checking the required months is necessary, as sometimes an annual consistency may be necessary.

Final Words

Step count health insurance discounts can encourage healthier habits by turning everyday activity into measurable rewards. However, their value ultimately depends on consistency and the type of policy you choose. Bajaj General Insurance's My Health Companion takes this wellness-first approach further by combining everyday OPD healthcare with consultations and more.

Explore My Health Companion for a wellness-focused approach to everyday healthcare today!

FAQs

Should we choose health insurance because it offers a step-count discount?

A step-count discount can be a valuable added benefit, but it shouldn't be the sole factor in choosing a health insurance policy.

Does the discount apply to every member of a family floater?

The requirements can apply to each eligible insured person under the relevant policy terms. Policyholders with a family floater coverage need to check the specific conditions for eligibility.

Is the step count discount the same as a no-claim bonus?

A step count discount is a wellness-based incentive which is linked to physical activity. However, a no-claim benefit, when offered, is based on claims or other policy conditions.

How is a wellness discount different from a promotional discount?

A promotional discount is offered as part of a sales or marketing campaign. A wellness discount is linked to particular activities or behaviours and is governed by applicable policy terms.

*Standard T&C Apply

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making any related decisions.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

Claims are subject to the terms and conditions set forth under the health insurance policy.

The information presented is not meant to be a substitute for medical advice. Any suggestions mentioned should be considered for general use only. For expert guidance on any health ailment or medical issue, or treatment/procedure, please consult a certified medical professional.