HealthIQ Review

Health IQ has forged a unique position in the life and health insurance markets. The company’s business model is built around rewarding customers who lead healthy lifestyles, citing scientific consensus and statistics that quantify just how much healthy lifestyle choices reduce a person’s risk of early death. Over the life of a 30-year policy, Health IQ claims that consumers can save more than 40% or $10,000 on their premiums without sacrificing the completeness or security of their coverage.

Company information

The Health IQ story began in 2010 as founder Munjal Shah was celebrating the greatest success of his career after selling his startup company to the tech giant Google. One day after completing the sale, Shah began experiencing sharp chest pains. Suspecting he might be having a heart attack at the young age of 37, Shah sought emergency medical assistance. The problem turned out not to be a cardiac event, but it nonetheless prompted Shah to make major lifestyle changes.

Within months, Shah had adopted a healthy diet and shed 40 pounds. His newfound commitment to healthy living brought him in contact with many other like-minded entrepreneurs, and a group of them decided to pool their knowledge and resources to found Health IQ. From its earliest beginnings, the company aimed to reward a niche market of health-conscious consumers by offering complete life insurance at a lower price.

Technically, Health IQ is a special type of insurance brokerage known as a managing general agent (MGA). MGAs have underwriting authority from insurance carriers and are permitted to offer unique discounts available only to exclusive, targeted consumer segments. Prospective customers earn discounts by completing a questionnaire built around objective measures of health awareness and personal fitness.

Insurance plans

Health IQ offers insurance plans in four major categories:

As of November 2019, Health IQ enjoys an A+ rating from the Better Business Bureau (BBB), and 92% of its TrustPilot consumer reviews score the company as “excellent,” its highest rating.

Terms and conditions

Health IQ is built on a unique system that goes well beyond the standard set of terms and conditions used by life insurance providers. The company allows consumers to qualify for lower rates in three different ways, each of which can deliver valuable discounts.

These three paths include:

Combined, these three discount pathways can deliver savings of 8% to 41%, relative to what a comparable policy would cost elsewhere. Over a 30-year term, Health IQ rewards its healthiest customers by delivering savings on premiums that can total up to $10,568.

Pros and cons

Health IQ’s unique system offers many advantages, but it also comes with some disadvantages. Professional reviews and customer feedback cited the following pros time and again:

On the flip side of the coin, reviewers and customers tended to express dissatisfaction with:

Overall, Health IQ offers far more benefits than drawbacks to qualified consumers looking to save money on their life and health insurance needs.

The verdict

If you think of yourself as healthy but can’t run an eight-minute mile, bike 50 miles in a single sitting, or perform well in a competitive swim meet, Health IQ may not be for you. You might still qualify for some discounts, but your actual savings will vary and may not compare well against options offered by competing lower-cost insurance brokers.

However, if you’re a healthy person who eats well, exercises regularly, and has achieved a high level of personal fitness, chances are you’ll qualify for discounts that make Health IQ’s application process well worth your while. The company also has a fantastic customer service reputation, giving qualified applicants yet another reason to consider it.