Life InsuranceApr 24 2017

Exeter offers low premiums for slimmers

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Exeter offers low premiums for slimmers

The Exeter has launched a new life insurance product with reduced premiums for people who manage their diabetes or high body mass index (BMI).

Savings of up to 35 per cent are available for people with type 2 diabetes who lower their HbA1c level and people with a high BMI who reduce their weight as part of the provider’s new Managed Life product.

The target is confirmed during the application stage, with HbA1c readings or weight measurements collected annually at the anniversary of the policy.

Conversely, if the policyholder’s condition worsens, they could be charged higher premiums.

Chief executive Andy Chapman said: “Managed Life is a bespoke life insurance plan for an underserved sector. For too long, insurers have focused on healthy lives and ignored the increasing number of people who suffer from long term health conditions.

“We live in an age where products and services are increasingly dynamic and responsive to us as individuals, yet life insurance has remained static. Managed Life is about to break this mould.”

Emma Thomson, life office relationship director at LifeSearch, commented: “This is a fantastic new product from the Exeter that will make a real difference to people who may currently struggle to get cover. 

“Giving clients the opportunity to reduce their premiums by rewarding healthier behaviours is also hugely positive. It’s an initiative that will help grow our market and help get more consumers the protection they need.”

simon.allin@ft.com