MLC Life Insurance is offering a discount to new customers who fit within a determined range of the Body Mass Index (BMI) to reward healthier lifestyles.

The Vivo Incentive will provide new policyholders with a BMI between 18.5 - 28.5 with a lifetime 7.5% discount on their annual premiums for lump sum covers.

MLC says the incentive will help maintain stable premiums and encourage customers to preserve healthy living.

“Through Vivo Incentive, we can quickly help more customers obtain affordable lump sum cover. Our data shows by attracting healthier customers who are less likely to claim, we can help keep premiums more affordable and stable in the long term,” MLC Chief Retail Insurance Officer Michael Rogers said.

BMI measures height and mass to determine if a person is in a healthy weight category proportionate to their size; ranges between 18.5 - 24.5 are considered as healthy.

“While BMI does not provide a complete picture of a person’s health, there is evidence that a healthy BMI is associated with a reduced risk of a range of conditions, including heart disease, cancer and diabetes. And using BMI as a metric is easy to calculate and verify,” Mr Rogers said.

Customers who have achieved suitable BMIs will have the discount applied to their cover permanently and will not be required to submit ongoing health updates to the insurer.

Existing MLC customers who signed on from October last year are eligible for the Vivo Incentive if they apply for additional coverage to their current plan.

A 2021 Ipsos global survey found that 35% of Australians gained weight during the Covid-19 pandemic, as populations were restricted from usual exercising options and working habits changed.

MLC says that its policy represents an innovative action plan promoting a sustainable lifestyle for its policyholders.

“From application to claim, we are innovating to improve the sustainability and affordability of life insurance,” Mr Rogers said.

“By offering more primary and secondary health support for our customers through Vivo Incentive... we are there for customers at all stages of their journey with us and driving better health outcomes.”