Health IQ Review: If You Can Run An 8-Min Mile, Click Here

The 60-Second Summary

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5.0/5
GetSure Rating
Health IQ is a life insurance broker that offers discounted rates to those living active, healthy lifestyles. Health IQ has strong TrustPilot and BBB reviews for customer service; however, some may not like that the application involves speaking to an agent.
The Pros
The Cons

3rd-Party Health IQ Life Insurance Reviews

Full Review Below.

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    Who Is Health IQ?

    Based in Mountain View, CA, Health IQ is an online life insurance broker well-known for offering low rates to health-conscious individuals.  

    It offers three types of life insurance

    • Term life (including guaranteed issue), whole life, and disability insurance.

    Is Health IQ Legit?

    Health IQ was founded in 2014 on the belief that life insurance companies were not rewarding health-conscious individuals for their positive lifestyle choices.

    Health IQ has capitalized on this insight to issue $60+ billion in life insurance coverage and attract investments from prominent investment firms, such as Andreessen Horowitz, First Round Capital, and Foundation Capital.

    Company 101
    Type
    Life Insurance Broker
    BBB Rating
    A+
    A.M. Best Rating
    Varies by partner
    Website
    https://www.healthiq.com
    Email
    support@healthiq.com
    Phone
    (800) 549-1664
    Address
    2513 Charleston Rd #102
    Mountain View, CA 94903

    What Makes Health IQ Unique?

    Everyone claims to offer the lowest prices, right?

    But unless a company has a sustainable (and believable) competitive advantage, you can rest assured that their “low prices” are one of two things:

    • Temporary
    • Misleading (e.g., a low sticker price, accompanied by hidden fees)

    How Does Health IQ Work?

    So what competitive advantages let Health IQ offer consistently lower prices?

    The answer is its advanced underwriting.  (Meaning, the methods it uses to analyze your data, judge your risk, and calculate the premium rate you should pay, ).

    This underwriting approach is guided by a simple and well-known health reality:

    People with an active, healthy lifestyle have a significantly lower risk of heart disease and type 2 diabetes (two of the top causes of death among Americans).

    Health IQ Statistics

    If a life insurance company could accurately judge which applicants were living a healthy lifestyle and which were not, it could approve only the healthy ones.  These policyholders would live longer and the company would pay less in death benefits.

    It could then pass on some of these savings to the consumer in terms of lower prices than the competition.

    This is exactly what Health IQ has done.

    Use of Unique Data

    Most life insurance companies use a standard list of the same health questions that consumers have seen for decades.

    Health IQ asks unique questions about your current health and your health knowledge (your “Health IQ”).  It then runs these data points through its mathematical model to better predict your long-term health.

    This model took several years to build and involved research to understand which pieces of data accurately identified the healthiest applicants.  

    Health IQ Product Offerings

    Health IQ is a life insurance broker.

    It handles the customer experience from beginning to end, from your quote on their website to the licensed agents who answer any questions you have to your final approval and pricing. But it does not issue the formal policy.

    For issuance of the formal term or whole life policy itself, Health IQ partners with ~30 well-known insurance carriers, such as Prudential, Pacific Life, and Lincoln Financial.

    Life Insurance Offerings
    Term Life

    check

    Whole Life

    check

    Guaranteed Issue

    check

    Online?
    Quote and some application
    Medical Exam?
    Varies by applicant

    Term Life Insurance

    The most common product that Health IQ offers is term life insurance (check out our related guide if you need to brush up on your insurance know-how).

    Given the number of carriers it works with, Health IQ can offer a wide range of policy options:

    • Term lengths: 10, 15, 20, 25, and 30 years
    • Coverage: $25,000 to $50,000,000 (that’s not a typo: they offer up to $50 million)

    Premiums stay the same for the life of the policy and can be paid monthly, quarterly, or annually.

    Policy Riders

    The riders you can add vary from policy to policy, but one is near-universal.

    Nearly all Health IQ policies include a term conversion rider, which allows you to convert your term life policy to a whole life policy at any point.

    (Of course, you’ll have to pay higher premiums for the whole life policy.)

    Guaranteed Issue

    Health IQ also offers a Guaranteed Issue life insurance product.

    As the name suggests, customers cannot be declined (for health reasons).  It also features:

    • No medical exam
    • Approvals within 48 hours
    • Up to $25,000 in coverage
    • Guaranteed coverage for ages 50 to 85

    Third-Party Health IQ Reviews

    Health IQ has strong customer reviews.

    It has an aggregate rating of 4.7 stars (out of 5) on Trustpilot, from 487 unique reviews.

    We looked at all of these reviews and removed ones that came from reviewers who had only one review on the platform.  (We consider reviewers more credible as they have more reviews on the platform.)

    When we averaged these reviews, Health IQ had a 4.8 star rating, slightly higher than their unadjusted aggregate rating.

    Finally, the Company is accredited by the Better Business Bureau and has an A+ rating.

    Why NOT Go With Health IQ?

    To recap, what differentiates Health IQ is its ability to confirm that healthy individuals are as healthy as they claim to be.

    With this knowledge, the Company can offer lower premium rates to their policyholders without the risk of under-funding their future liabilities.

    Lengthy Application

    To do this, however, Health IQ needs to collect more information than a typical application.

    While competitors like Bestow offer a 100% online process and a 15-minute start-to-approval experience, the process with Health IQ is longer for two reasons:

    1. Their application is more extensive and you have to take a 30-question “health IQ” quiz (to qualify for the lowest rate)
    2. The final part of the application requires speaking to an agent, typically the following day

    Remaining FAQs

    Before we wrap up, we’ll cover some of the most Googled questions about Health IQ.  (Apologies for any repetition.)

    According to their website, you can qualify for a lower rate with Health IQ, in three steps.

    The first step is a few questions about your health on the Health IQ website.  Next, you will take a 30-question, multiple-choice health knowledge quiz to gauge your “Health IQ”.

    If you pass that test, the third step is to verify your lifestyle.  You can choose a running test (8-min mile), cycling test, or swimming test.

    According to Crunchbase, Health IQ is owned by its 11 co-founders as well as a group of prominent venture capital firms, including Andreesen Horowitz, First Round Capital, and Foundation Capital.

    Conclusion

    And that should do it for this review.

    If you have any lingering questions, don’t hesitate to send us an email at hello@gesture.org.

    Warm Regards,
    The GetSure Team

    Sources

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