Health and Wellness: The New Frontier in Life Insurance

Good health and life insurance have always intersected, but these days, that’s truer than ever. Today, consumers are increasingly prioritizing health and well‑being in every aspect of their lives. Why not in life insurance, too?

After all, for life insurance agents, bringing health and wellness into the conversation creates an opportunity to connect with consumers on a whole new level.

At Pan‑American Life Insurance Group (PALIG), we’ve long taken an innovative approach to healthcare, offering wellness programs to policyholders, additional coverages that can be added to other insurance solutions such as a life insurance policy and more. These benefits are good for insureds and for PALIG agents, too—because it’s a fresh way to appeal to prospects and offer added value to clients.

That’s why it’s important to stay on top of the trend, especially every PALIG wellness benefit available in your market.

Health and Wellness by the Numbers

If you want to know what people care about, see how they spend their money.

Today, consumers are investing in health‑related products and services at unprecedented levels. They’re spending on personal care products, fitness equipment, biomonitoring devices and wearables, vitamins and supplements, even wellness tourism.

And of course, they’re spending on preventative healthcare and wellness.

Case in point: the global wellness economy grew from $4.4 trillion in 2020 to $5.6 trillion in 2022, and is predicted to reach $8.5 trillion by 2027. The pandemic may have been a catalyst, but experts believe the trend is going ever upward.

How Wellness Programs Make Life Insurance Better

When you think about it, integrating wellness initiatives with life insurance makes absolute sense. After all, there are many advantages to targeting health‑conscious prospects:

Their applications are more likely to be accepted
Their coverage is less likely to be subject to exclusion riders
They are likely to benefit from the lower rates

Spotlighting PALIG’s Integrated Wellness Initiatives

When you provide your clients with life insurance, you offer them a pathway to financial security. And when you pair that with meaningful health and wellness benefits, you demonstrate that you—and we—care about their health.

Insureds with health coverage can take advantage of PALIG’s:

Telehealth programs
Mobile clinics
Curated health and wellness articles targeting specific health needs, such as diabetes and anxiety
Inspirational, data‑based blogs and reports to support their health and perhaps kickstart their wellness journey
Seasonal promotions and incentives for preventative care, such as free or reduced‑cost cancer screenings
Access to over 500,000 medical providers

Of course, program specifics vary by region, so it’s important to know your local program offerings.

Write Your Own Success Story

Prevention is the #1 rule of good health—that’s understood. Wellness programs not only save dollars but have the power to save lives.

Chances are, you have clients who have improved their health metrics and lowered their risk profiles by making simple improvements to their diets and lifestyles. These are true success stories—and with these additional wellness benefits, you can expect to see more of them.

In addition, by highlighting these programs in your life insurance outreach, you’ll write your own business success story, too.

We hope you’ll join us on the edge of this exciting new frontier.

To learn about solutions available for your clients,

This article has been prepared for information purposes only and does not constitute personal advice. Consult with your own financial and tax advisor with respect to your personal situation. It is not a contract or agreement. Some products may not be available in every jurisdiction where Pan‑American Life is licensed to do business. All products are subject to exclusions and other applicable terms and conditions.