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Health IQ LIFE INSURANCE REVIEW - Cost, pros & Cons, FAQ's

Reviewed by:  Chris Lalor | Last Modified: 01/28/2021

Man and woman smiling as they read paperwork.

Overview: Shopping for life insurance can seem confusing.  You want coverage at a great price, but researching and applying with multiple insurance companies is a hassle.

There’s also the issue that healthy people aren’t generally rewarded for being healthy. If you take good care of yourself and are in good health, you could pay the same premiums as a person of “average health” in your same age category — even though you have a much lower risk of premature death from a chronic illness.

Health IQ is different.  It rewards your healthy lifestyle choices by offering lower rates if you take care of your health.  If you’re tired of overpaying for life insurance, and you’re in good health, Health IQ Insurance may be just what you need.

Want to know more?  We uncover just what Health IQ Reviews is about, how it works and if you should consider the company for your life insurance policy.

Here’s What You Need to Know About Health IQ Insurance

HealthIQ Insurance targets the health conscious market.  The company has done extensive research that shows people who are concerned with their health have a longer life expectancy.  HealthIQ Life Insurance took this research to…

  • Ameritas Life
  • Assurity Life
  • Savings Bank Life Insurance Company (SBLI)

and partnered with these carriers to offer their health conscious customers a …

  •  Special Rate Life Insurance Program
  •  Stretch Underwriting Program

You might qualify for one, the other, both, or none of these programs depending on the company and the amount of coverage.  Your specific rate and savings will vary based on individual circumstances, including age, gender, height, weight, health, coverage amount, and other factors.  Coverage and special rates are subject to review, verification, and underwriting approval.

  • pros & cons

  • insurance types

  • who is a good fit?

pros & cons of HEalth IQ life insurance

Pros

  • Better underwriting uses your health and lifestyle activities to lower premiums up to 41%
  • Affordable policies for well-managed diabetics
  • Considers the full picture of your health rather than focusing on a few high-risk factors.
  • Life insurance riders, including living benefit riders are available on most life insurance policies Health IQ offers.
  • Offers customizable policies for Medicare, life insurance, and car and disability insurance

Cons

  • Application form is longer than most life insurance companies
  • Requires you to verify your active life by participating in a physical fitness test
  • Policy choices are limited to around 30 insurance carriers, which can restrict your options

How is HEalthIQ Insurance Different?

Health IQ Insurance isn't your typical insurance marketplace.  Instead, they negotiate the best rates for health-conscious individuals. 

The company got its start in 2013 and began extensive research in health and life expectancy.  In 2020, it ranked #18 in GrowJo's list of Fastest Growing Companies in Insurance.

Based on Health IQ Life Insurance Reviews they believe the best way to improve the health of others is to reward those who have tried to make healthy lifestyle choices.  It can offer lower rates to health-conscious applicants than what you might find at other insurance companies.

The company can secure discounts for these categories:

  • 8% savings for health literacy
  • 9% savings for a healthy lifestyle 
  • Up to 24% savings for other underwriting factors

The primary difference that sets Health IQ Insurance apart is their focus on the big picture.  Rather than hyper-focusing on a few individual health statistics, they consider your lifestyle choices during the underwriting process.

What types of insurance can you purchase from HEalthIQ Life Insurance?

Life Insurance Products Offered through Health IQ Life Insurance:

HealthIQ Insurance offers...

Did you know?

In many cases it is much cheaper to buy life insurance on your own rather than through your employer.  Plus, if you leave your job, you don't lose your coverage!

WHAT POLICIES DOES Health IQ OFFER?

Term life insurance provides life insurance coverage for a specific period.  Generally, your policy can last for ten, 20 or 30 years.  It's a popular choice because it's often the most affordable option to financially protect your loved ones if the worst should happen.  Your family can use the death benefit to pay for funeral expenses, mortgage and utility bills, debt or your child's tuition.

Whole life insurance is a type of permanent life insurance.  It will never expire and can last for the rest of your life if you continue to pay your premium.  Whole life is more expensive than a term policy and can often cost five to 20 times more.

Guaranteed issue is a type of life insurance that can't deny your application for health reasons.  It offers guaranteed coverage up to $25,000 for people between the ages of 50 and 85 years.  The approval process is quicker, and it doesn't require a medical exam.

Besides life insurance, Health IQ offers:

  • Medicare Advantage
  • Medicare supplements
  • Car Insurance
  • Disability Insurance

a brief history of Health IQ Insuranc Company

Health IQ Insurance started in 2013, after its founder, Munjal Shah, experienced chest pains while running a 10k race and found himself in the emergency room.  He was only 37 but knew the importance of improving his health because he had a family history of early heart disease.  He lost 40 pounds, changed his diet and ran three marathons over the next few years.

On his journey to better health, Shah realized it's hard work to get healthy, yet no one rewards healthy individuals financially.  They pay the same life insurance premiums that less than healthy applicants pay.

Man in mid 30's with hands behind head and leaning back in his chair. He is wearing a blue collared shirt with sleeves rolled up.

Shah and his team set out to gather the data and scientific proof that health-conscious individuals deserve lower life insurance rates.  They've partnered with some great insurance companies who are onboard with rewarding healthy lifestyle choices with lower premiums through the years.

HealthIQ has issued $29 billion in coverage and earned a rating of A+ by the Better Business Bureau, which is the highest rating available.

Americans are terrible at this one thing...

recent study found that more than half of Americans overestimate the cost of term life insurance by three times.  If you've never gotten a personalized quote or only seen quotes from one company, you likely have no idea how inexpensive life insurance really is!

Health IQ Insurance Products

Based on Health IQ Reviews they offer term, whole and guaranteed issue life insurance policies.  The policy that’s best for you can depend on several factors.

Primarily, you'll want to consider what you want from your life insurance.  That way, you can customize your coverage to fit your needs.  Asking yourself if you're looking for coverage for temporary or permanent needs is an excellent place to start.

Temporary needs might include:

  • Paying off a mortgage or other debts
  • Covering child’s tuition and educational expenses
  • Funeral costs and final expenses
  • Permanent needs that life insurance can help with include:
  • Ongoing support of a spouse or dependents
  • Caring for a child with special needs
  • Keeping a business running

If you choose term life and later decide you want a whole life policy, you may be able to convert it to a permanent policy.  You could also renew it for another term, though your rates will generally be higher.

Guaranteed issue life insurance is a good option for those who have exhausted other life insurance options.  If medical conditions make it impossible or unaffordable to purchase a term or whole life policy, Health IQ’s guaranteed issue life insurance can approve you for up to $25,000 in coverage in as little as 48 hours.

Health IQ coverage details and guidelines

Health IQ Life Insurance partners with at least 30 life insurance companies to get you the coverage you need at a rate you can afford.

Who Issues Their Policies?

Because Health IQ is an insurance marketplace, they don’t underwrite or issue their own policies.  As a broker, they partner with 30+ insurance carriers to secure the lowest rates based on health knowledge, active lifestyle and dietary choices.

Health IQ Insurance does not offer either a Special Rate Life Insurance or Stretch Underwriting program with these companies but still has regular standard partnerships with…

  • Prudential
  • John Hancock
  • Lincoln Financial
  • Pacific Life
  • Principal Life
  • Mutual of Omaha
  • Plus several more

How Do I Get An Online Quote Through HEalth IQ Reviews?

You will need to answer the follow questions on the  Health IQ Reviews website or when you call them on the phone BEFORE you will be able to get a quote.

  1. What is your name, phone number, & email?
  2. How much coverage?
  3. Have an existing policy?  If so, do you plan on adding or replacing?
  4. What is your annual income?  Any part coming thru DI, Pension, or the VA?
  5. What is your date of birth?
  6. Do you take prescription medication?
  7. Do you have any heart disease?
  8. Do you have diabetes?
  9. Have you had any cancer including skin cancer?
  10. Do you have asthma or COPD?
  11. Do you have sleep apnea and/or have you had any sleep studies done?
  12. Do you suffer from anxiety or depression?
  13. What is your height & weight?
  14. Who is your beneficiary?
  15. Any parent or sibling has cancer and / or heart disease before age 65?
  16. Any DUI’s or reckless driving violations?
  17. Any felony or misdemeanor convictions?
  18. Are you currently in bankruptcy?
  19. Do you have any planned travel outside of the United States?
  20. Do you exercise?  What kind?  How often?  Do you compete?  Do you belong to any clubs or associations?  Can you provide written proof you participate?

How do I get a low rate?

Like any life insurance company, Health IQ bases your rate in part on your age and gender.  But Health IQ takes it a step further by using your health literacy, diet and lifestyle choices to calculate your rate.

That means you can get rewarded with lower rates for your healthy habits.  With Health IQ, your knowledge of health and wellness, your level of physical fitness, and your overall lifestyle help determine your rate.  The healthier you eat, the more you exercise, and the lower your risk factors for diabetes and heart disease, the lower your life insurance rate can be.

What is Stretch Underwriting?

Health IQ Insurance has 3 partnered companies that offer their Stretch Underwriting Program.  It is available for all 16 health classes which you could be approved at when you apply.  Health class #1 is for the healthiest people and costs the least.  As you move up to health class #16 it gets more expensive.  How healthy you determine your approved health class and your actual cost.

Let’s say you apply to one of Health IQ’s partnered companies that offer a stretch underwriting program and get approved at health class 2 instead of health class 1 because your Body Mass Index (BMI), or your blood pressure, or your cholesterol, etc.  is slightly higher than the maximum required levels for health class #1.  Stretch Underwriting might still be able to keep you in health class #1 instead of health class #2.  The key is to only be slightly over the health class #1 maximum required level – a few pounds overweight or blood pressure / cholesterol slightly elevated.  Any more than slightly over, you will stay at health class #2.  The same could be said if you approved at class #3 and just barely missed getting health class #2.  If you just barely miss qualifying for a health class, stretch underwriting may still keep you at a better health class.  Stretch Underwriting is not a guarantee you will always get one health class better than you were approved at or a better health class than you deserve.  It works only if you are borderline between two health classes.  It might actually get you the benefit of the doubt and keep you at the better class.

Find Your Perfect Life Insurance Plan!

Click below to search for life insurance by company, coverage amount, and policy type.

Shortcut:  Our #1 choice for life insurance with health issues is AIG Direct.  If you have any history of heart disease, diabetes, cancer, stroke, or obesity, click here for a free quote.

WHO is Health Iq for?

Health IQ Reviews considers the people who watch their diet and exercise regularly health conscious.  So you might qualify for “special rate life insurance” if you are a…

  • Vegetarian
  • Vegan
  • Runner
  • Swimmer
  • Cyclist
  • Triathlete
  • Weightlifter
  • Practice Yoga

What is the special rate for the Health IQ life insurance program?

Health IQ Insurance has partnered with 3 companies to offer special rate life insurance for the very health conscious.  In order to qualify, you need to be very healthy and score “elite” on their Health IQ quiz taken on their website.  You will also need an “elite” score on a specific quiz suited to your health conscious activity or sport.

For example – Male – DOB 4/8/1972 -non-smoker- excellent health – swims 3 x/week – can provide proof of belonging to masters swim program – scores elite on both Health IQ quiz and on a specific swimming quiz / questionnaire – $500,000 20 Year Term Life Insurance Policy

Price before special savings – Savings Bank Life Insurance (SBLI) –

  • With Medical Exam – $56.30/month
  • Without Medical Exam – $61.95/month

Price after special savings – Savings Bank Life Insurance (SBLI) –

  • With Medical Exam – $53.60/month
  • Without Medical Exam – $59.20/month.

Cost difference with medical exam – $2.70/month x 12 months = $32.40/year x 20 years = $648 Total Savings over 20 years.

Cost difference without medical exam – $2.75/month x 12 months = $33.00/year x 20 years = $660.00 Total Savings over 20 years.

Did you read the fine print?

A Health IQ insurance review revealed that there is NO GUARANTEE you will be eligible for either Health IQ’s Special Rate Life Insurance or Stretch Underwriting Program with any of their partnered companies.  Review the disclaimer on their website.  It says “Your specific rate will vary based on individual circumstances, including age, gender, height, weight, health, location, issuing insurer, coverage amount, time of purchase, and other factors.”

Who is the ideal health Iq applicant?

Health IQ is an excellent option for active and healthy individuals, healthy dieters, athletes and people with higher health literacy levels.

It might be a good fit if you don’t already have life insurance or you need to supplement or replace an existing policy.

what if i'm not perfectly healthy?

Health IQ’s target market is the health conscious person.  They advertise “Lower Rates For Healthy Lifestyle”.  Although Health IQ’s marketing campaign does not say “do not apply”, it can discourage the person with average or no so good health from applying.  The average non health conscious person might say there is no way they could purchase life insurance thru Health IQ because they are not a vegetarian, vegan, runner, swimmer, cyclist, triathlete, or practice yoga.

***IMPORTANT INFORMATION – MUST READ***

Health IQ gets the tough cases approved too!  They use the top 30 life insurance carriers in the market to secure you the best possible price if your health is average or not so good.  They are a full service life insurance brokerage agency with licensed experts on staff to help with the toughest underwriting.  If you have high blood pressure, or cholesterol, a history of heart disease, diabetes, cancer, etc., Health IQ has the best carriers and some of the knowledgeable staff to help guide you.

Our Favorite Life Insurance Companies

We've worked with and reviewed dozens of companies.  Here are our faves.

Ladder Life Insurance Logo

Ladder Life Insurance

Best for:  No-Exam Plans Up to Age 60

Ladder is known for a quick and easy online application with no medical exam required in many cases.  They have 10, 20, and 30 year plans.  They offer the most coverage without an exam in the industry. Coverage amounts start at $100,000 and go as high as $8 million.

AIG Direct Life Insurance Logo

AIG Direct

Best for:  Lowest Rates or Health Conditions

AIG Direct offers a range of custom term plans up to 35-year term as well as return of premium, and permanent plans that build guaranteed cash value.  Their rates will beat just about anyone if you take an exam.  They're also terrific if you take medication or have health issues.

Bestow Life Insurance

Best for:  Convenient and Simple Plans

Bestow is known for their simple, straight-forward 10, 15, 20, 25 and 30 year term plans up to $1.5 million.  They never require a medical exam (ever) and have great rates.  Rates start as low as $8 per month.

how to apply for life insurance with Health IQ?

Start the application process online by visiting the Health IQ website.  You can request a quote online by filling out your name, email address and telephone number. 

A Health IQ representative will contact you to go over your options and help you through the rest of the process.  You could also call Health IQ at 800-549-1664 to speak to a licensed insurance agent.

signing up for HEalth IQ

Signing up for a policy from Health IQ is a little more complicated than other life insurance providers. That's because the company assesses lifestyle factors such as physical activity, diet preferences and health knowledge and how that effects your life expectancy.

You could save up to 41% on premiums, so it's worth spending the extra time upfront.  A representative from Health IQ will help you through the signup process, including scheduling the medical exam and taking the Health IQ quiz.

how does the application process with HEalth IQ work?

Health IQ will assign you credits for health categories you qualify for.  You could receive an 8% savings for health literacy, a 9% savings for having an active lifestyle and up to a 24% savings for other health-conscious underwriting factors.

Once you complete the formal application, you'll move on to complete the basic quiz, Health IQ Quiz, Healthy Lifestyle Quiz and verify your healthy lifestyle.  The last step could require you to run an eight-minute mile (or an age-based equivalent), cycle 50+ miles, compete in a swim meet or another physical activity.

Health IQ financial strength and bbb ratings

Health IQ works with top-rated insurance companies to provide you great rates on quality life insurance policies. 

The company is accredited by the Better Business Bureau (BBB) and features an A+ rating.  Customers love the top quality customer service and how quickly Health IQ verifies their physical fitness as part of the application process.

Here’s how the company stacks up with the rating companies:

LIFE INSURANCE MADE EASY

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HEalth IQ reviews and complaints

Customers have rated Health IQ 4.7 out of 5 stars on Trustpilot. They love how easy it was to secure the best rates on a policy. Many say they shopped around for life insurance but got the lowest rates from Health IQ.

HEALTHIQ, HEALTH IQ INSURANCE, HEALTH IQ REVIEWS, HEALTH IQ LIFE INSURANCE REVIEW

Compare HEalth IQ Life Insurance VS New York Life Insurance

New York Life is one of the oldest life insurance companies around today.  They’re also one of the most financially stable options when considering life insurance.  Unlike Health IQ, New York Life isn’t a broker.  The company issues the insurance policies directly to policyholders.

The two companies offer similar types of policies, though New York Life has a larger selection of policies to choose from, including term, whole life, universal life and variable life.  New York Life also offers annuities, mutual funds, ETF investments and 529 plans. 

How to Compare Companies:

Insurance companies are NOT all the same.  Some are more lenient on certain health issues, some focus on a no-hassle application without an exam, some are financially stronger than others, and their pricing varies a LOT!  The smartest move is to get quotes from two or three companies and compare the pros & cons of each.

HEALTH IQ life insurance ALTERNATIVES

Many of the following companies have better products and cheaper prices versus Health IQ Life Insurance.  Some even offer no medical exam policies.

AIG_Direct

AIG Direct Life Insurance Review

AIG Direct offers online quotes, works with healthy people (plus people in less-than-perfect health), and provides options for coverage you may not find elsewhere.

Couple on couch inside their house. They are sitting really close and sharing a laptop while looking at each other and smiling.

CMFG Life Insurance Review

CMFG, through CUNA Mutual Group, uses its TruStage brand to sell life insurance to the public and credit union members. 

Family game of tug-of-war with a rope. Set in a field with a blue sky and white clouds

Ethos Life Insurance Review

Ethos is not a life insurance company.  They are a licensed producer and third party administrator.  Founded in 2017, Ethos has developed an online platform that allows you to apply for life insurance and possibly get instant approval. 

Fabric Logo

Fabric Life Insurance Review

Fabric Life offers affordable life insurance with easy, online quotes and application available 24/7.  The company uses algorithms to speed up the underwriting process, with well-qualified applicants getting approved without a medical exam.

life insurance geico, geico life insurance review

Geico Life Insurance Review

GEICO offers life insurance products through its partner, LifeQuotes.com.  LifeQuotes.com provides access to dozens of life insurance carriers which makes it easy to get a quote for term, universal or whole life insurance. 

Haven Life Insurance Review

Haven Life Insurance Review

Haven Life Insurance Agency, LLC, is a wholly-owned subsidiary of MassMutual and offers an easy and fast online quoting and application process for term life insurance. 

Leap Life Insurance Logo

Leap Life Insurance Review

Leap LIfe uses artificial intelligence (Policy Matching AI) technology to compare your health, habits, and hobbies against life insurance company underwriting guidelines in order to match you with the best possible policy from a company that they represent.

MATRIXDIRECT LIFE INSURANCE LOGO

Matrix Direct Life Insurance Review

Matrix Direct Life Insurance, now AIG Direct, is a life insurance company offering coverage through American General Life Insurance and The United States Life Insurance Company in the City of New York.  Most policies require a medical exam, but certain term and whole life products can be purchased without one.

Mutual of Omaha Logo

Mutual of Omaha Life Insurance Review

Mutual of Omaha Living Promise Whole Life Insurance has both level and graded benefit plans. Underwriting is simplified issued –  and does not require a medical exam.

Nerdwallet Logo

Nerdwallet Life Insurance Review

When you request a quote from Nerdwallet Life Insurance you will be redirected to another website called Quotacy.  Quotacy is backed by Hallett Financial Group, Inc.  Hallett Financial Group, Inc is a full service multi-carrier independent insurance brokerage agency.

Pacific Life Insurance Company Logo

Pacific Life Insurance Review

Pacific Life is very competitive in the term life insurance and the guaranteed universal life insurance market.  Most of the time in the Top 3 when compared to other leading carriers in the life insurance market.

For more company information, please visit our Life Insurance Company Reviews Page.   If you’re searching for life insurance by term length or dollar amount, please visit this page

summary

Health IQ Life Insurance is a good place to buy your life insurance especially if you fit their health conscious niche market but is also excellent option if you are in average or not so good health.

Health IQ Life Insurance may be able to…

  • Get health conscious people a small discount on their life insurance through their Special Rate Program
  • Keep you in a better health class if you barely miss qualifying thru their Stretch Underwriting Program

…if you apply to Ameritas Life, Assurity Life, and Savings Bank Life Insurance (SBLI).  Not everyone who applies will qualify for these programs.

If you do not fit the health conscious profile, don’t worry.   Health IQ also get the person with average or not so good health the best prices possible too.  Just because you eat meat, don’t exercise, and may have a few pounds on your on your frame, does not mean you can not buy life insurance at Health IQ!  Health IQ is an excellent choice for all your life insurance needs.



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Written by:  Chris Lalor

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