Earning an Apple Watch for as little as $25 is the latest enhancement of a new approach to life insurance introduced by John Hancock two years ago: the John Hancock Vitality solution. This innovative solution integrates life insurance with a technology-enabled wellness program — and rewards people for living healthy. With John Hancock Vitality, clients can save up to 15 percent on their annual premium, and earn valuable rewards and discounts for the everyday things they do to stay healthy, like walking, exercising and buying healthy food.
Changing The Life Insurance Conversation
In the life insurance market, where a significant number of consumers remain uninsured or underinsured, John Hancock Vitality is engaging customers in a compelling way so they can see the everyday value it can provide in their lives.
“John Hancock Vitality is changing the life insurance conversation and ownership experience for consumers by making it more engaging, fun and rewarding,” says Brooks Tingle, senior vice president, marketing and strategy, John Hancock Insurance. “We are continuously evolving this program with new benefits like Apple Watch to ensure it remains relevant and attractive to today’s consumers.”
Unlike with traditional life insurance, John Hancock Vitality customers aren’t just putting their policies away in a drawer. In fact, thousands of policyholders are saving money and earning rewards for their healthy choices. According to John Hancock, policyholders are participating in the program an average of 22 times a month as they redeem rewards, exercise (taking 9,000 steps per day compared to the average American at 5,900!) and make smart choices at the grocery store (saving up to $600 a year on their healthy food purchases).1
Earning An Apple Watch For $25
Now John Hancock Vitality policyholders can earn an Apple Watch for as little as $25 by exercising regularly.2 Whether they walk, run, bike, swim or participate in other types of exercise, they can earn Vitality Points that go toward their monthly watch payments over 24 months. The more points they earn through regular exercise each month, the less they’ll pay for their Apple Watch.
To keep it simple, customers can seamlessly integrate their Apple Watch with the John Hancock Vitality program to track their monthly physical activity goals. Participants can monitor their progress on the John Hancock Vitality member website or mobile app.
Although the Apple Watch benefit is relatively new to the program, policyholders who have purchased an Apple Watch are increasing their steps by an average of 2,000 per day.
Reaching a Broader Market
John Hancock Vitality can be a great fit for people at all stages of their lives. “We’ve seen strong appeal and tremendous feedback across market segments — from millennials to seniors,” says Tingle. “While different program elements appeal to some segments more than others, everyone loves the idea of saving money, earning rewards and getting the support they need to lead a healthy life.”
There are also specific client segments, such as people living with diabetes, for whom the program’s focus on living healthy is especially beneficial.
Ongoing Client Connections
Customer engagement with the program is giving advisors a chance to touch base more frequently with their clients and to build lifetime relationships. Every time the client reaches a health milestone — and earns valuable rewards and discounts on hotels, cruises, entertainment and more — it reinforces the connection with their advisor.
With significant customer engagement, clients are happy with the program and, according to John Hancock’s Net Promotor Score, they are recommending John Hancock Vitality almost twice as often as policyholders who have purchased traditional life insurance policies.
Getting More Out Of Life
It’s no secret that the life insurance industry has struggled to keep pace with the rapidly changing needs of consumers and has been slow to leverage state-of-the-art technology. With technology from wearable devices to smartphone apps and Apple Watch, people can track their fitness activities, making it easier for them to take a more active approach to their health than ever before.
Innovations like John Hancock Vitality are doing just that by successfully engaging customers and enhancing the ownership experience. In fact, John Hancock Vitality life insurance sales doubled in the program’s second year, and they expect sales to double again this year.
To learn more about John Hancock Vitality, visit www.JHRedefiningLife.com.
For agent use only. This material may not be used with the public.
1. Healthy food savings are based on qualifying purchases and may vary based on the terms of the John Hancock Vitality program.
2. Apple Watch can be ordered for an initial payment of $25 plus tax, and over the following two years, monthly payments are based on the number of standard and advanced workouts completed. Apple is not a participant in or sponsor of this promotion. Apple Watch is a registered trademark of Apple Inc. All rights reserved. Please note: Apple Watch is not available in New York.
In New York, entertainment, shopping and travel rewards are not available and are replaced by healthy living and active lifestyle rewards.
John Hancock’s Net Promotor Score Data, reported by Clarabridge in April 2017.
Insurance policies and/or associated riders and features may not be available in all states. Some riders may have additional fees and expenses associated with them. Premium savings will apply based on the status attained by the life insured.
Vitality is the provider of the John Hancock Vitality program in connection with policies issued by John Hancock.
John Hancock Vitality program rewards and discounts are available only to the person insured under the eligible life insurance policy.
Rewards and discounts are subject to change and are not guaranteed to remain the same for the life of the policy.
Insurance products are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA 02210 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595.