New Principal Program Rewards Insurance Customers for Reaching Goals
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My Principal Lifestyle was previously only open to policyholders of select life insurance products in three states. Now, anyone in
"Financial wellness and physical wellness both play a big role in overall well-being. That's why Principal decided to reward customers already making positive choices, and help incentivize others to take the plunge," said
To participate, individuals can log their activity or sync the app to their existing fitness device app, if applicable. Participants earn points for being active, achieving daily goals, and finishing weekly challenges.
With the goal of helping life insurance customers get physically and financially fit, the app features new and improved challenges. Fifty-four percent of active participants in the program reported weight loss. The group averages roughly 7,000 steps per day (about 2,000 more than the
"Principal is known as an industry innovator in the underwriting space. When we began My Principal Lifestyle, we believed healthy lifestyle behaviors would be indicative of risk that could help with the underwriting process," added Linde. "We still believe that's true, but what we learned was more powerful. We're developing relationships with our customers that provide value in their daily lives by encouraging healthy behaviors. We're committed to learning more about how this type of program can benefit our customers." About Principal®
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