BOSTON – John Hancock life insurance is offering a digital health platform to all policyholders that offers rewards for healthy behaviors.
“For centuries, the insurance model has primarily provided financial protection for families after death, without enhancing the very quality it hinges on—life,” said Marianne Harrison, president and CEO of John Hancock, in a statement. “We fundamentally believe life insurers should care about how long and well their customers live. With this decision, we are proud to become the only U.S. life insurance company to fully embrace behavioral-based wellness and leave the old way of doing business behind.”
John Hancock Vitality Life Insurance now offers new and existing customers two options to support and incentivize healthier life choices: Vitality GO, which isoffered on all life insurance policies at no additional cost, and provides access to expert fitness and nutritional resources and personalized health goals through a mobile app and website; and Vitality PLUSfor $2 a month that adds a 15% savings on annual premiums rewards for the everyday things they do to stay healthy, like exercising, eating well and getting regular checkups.
John Hancock began offering Vitality as part of its overall set of offerings in 2015 and, as a result, has seen policyholders living 13 to 21 years longer than the rest of the insured population; and 30% lower hospitalization costs than the rest of the insured population.
“The remarkable results of our Vitality offering convinced us this is the only path forward for the industry,” said Brooks Tingle, president and CEO of John Hancock Insurance, in a statement. “We have smart phones, smart cars and smart homes. It’s time for smart life insurance that meets the changing needs of consumers. We believe offering Vitality on all life insurance policies, at no additional cost, is the right thing to do for our customers, our business and society. We believe this is the future of our industry.”