John Hancock Leaves Traditional Life Insurance Model Behind to Incentivize Longer, Healthier Lives
"For centuries, the insurance model has primarily provided financial protection for families after death, without enhancing the very quality it hinges on: life," said
The time for change is now: America's health is at risk
To face this challenge,
The results are compelling. To date, worldwide Vitality policyholders have shown to:
- Live 13-21 years longer than the rest of the insured population 2
- Generate 30 percent lower hospitalization costs than the rest of the insured population 2
While John Hancock Vitality policyholders:
- Take nearly twice as many steps as the average American 3
- Have logged more than three million healthy activities including walking, swimming, and biking 4
- Engage with the program approximately 576 times per year – compared to customers with traditional insurance, who engage with their life insurance company one or two times per year on average 4
"The remarkable results of our Vitality offering convinced us this is the only path forward for the industry," said
"Poor eating and other unhealthy lifestyles have created an epidemic of preventable, chronic disease, hurting American families and businesses. John Hancock should be applauded for extending its Vitality program to focus on healthier food and lifestyles across its portfolio," says
- Vitality GO: Vitality GO will be offered on all life insurance policies, at no additional cost. With this basic 'be healthy' version of the program, consumers will have access to expert fitness and nutritional resources and personalized health goals through an easy-to-use app and website. And as they reach key milestones, their healthy activities will be rewarded with discounts at major brand outlets.
- Vitality PLUS: For
$2.00 a month 5, customers will receive all the benefits of the John Hancock Vitality Program, including savings of up to 15 percent on annual premiums and valuable rewards for the everyday things they do to stay healthy, like exercising, eating well and getting regular checkups. Consumers can earn an Apple Watch for as little as$25 plus tax or receive a complimentary Fitbit device to make it easy to record their healthy activities. Today, we also announce additions to the program: - Starting
October 1, 2018 , exclusive customer discounts at more than 400,000 hotels around the world in partnership withHotels.com . - Starting
January 2019 , members who reach platinum status for three consecutive program years will receive a one-year Amazon Prime membership.
For more information about how the
*Vitality GO and PLUS will be rolled out over time, beginning in 2019, for existing John Hancock life insurance policyholders
ABOUT JOHN HANCOCK FINANCIAL AND MANULIFE
John Hancock is a division of
One of the largest life insurers in
ABOUT VITALITY
Guided by a core purpose of making people healthier, Vitality is the leader in improving health to unlock outcomes that matter. By blending smart tech, data, incentives, and behavioral science, we inspire healthy changes in individuals and organizations. Vitality brings a global perspective through successful partnerships with the smartest insurers and most forward-thinking employers around the world. More than 8 million people in 18 countries engage in the Vitality program. For more information, please visit www.vitalitygroup.com.
1
2 Insuring Shared Value: How Insurers Gain Competitive Advantage by
3 Steps data from BusinessInsider.com,
4 Data based on policyholder experience since inception in the
5 For single life permanent products. For term products, the rider fee will be 3% of the policy's modal premium
Premium savings are in comparison to the same John Hancock policy without the Vitality program. Annual premium savings will vary based upon policy type, the terms of the policy, and the level of the insured's participation in the John Hancock Vitality program.
Insurance policies and/or associated riders and features may not be available in all states.
Apple Watch program is not available in New York. You can order Apple
Rewards and discounts are subject to change and are not guaranteed to remain the same for the life of the policy.
In
Vitality is the provider of the John Hancock Vitality Program in connection with policies issued by
MLINY091218055
PR-2018-35
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SOURCE John Hancock
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