Asteron, a specialist life insurance company in Australia, has launched a new Asteron healthy plus option which offers a way for people who are a lower insurance ‘risk’ to be rewarded with an immediate premium reduction, if they satisfy a set of health and lifestyle criteria.

According to Asteron, the new healthy plus option offers a full 20% off the life cover premium through Asteron Lifeguard. Once a customer applies and qualifies for the healthy plus option, they are granted 20% discount and also they can retain the 20% discount every year by taking the same set of tests.

In addition, even if a customer chooses not to re-take tests, the 20% discount will only reduce by 1% each year and when the discount reaches 10% after 10 years, the company will guarantee a 10% discount for the life of customer’s policy.

The company said that if at any time (up to age 55), a customer wants to reapply for full discount and still meet qualification criteria, the discount would instantly be re-instated to 20% again. Both the new applicants and existing Lifeguard policyholders may apply for healthy plus option, until their life cover is at least $250,000.