Perks for Sharing Activity, Health Info
Must be a wave of the future for LI companies. Participants (life insurance policyholders) can amass points for healthy activity (i.e. Flu shot 400 points) that help reduce your premium. But would you like your LI company to keep book on you?
John Hancock Enters Exclusive Partnership With Vitality | Vitality
Policyholders immediately begin accumulating “Vitality Points” after their policy is issued and when they complete health-related activities like exercising, getting an annual health screening or even a flu shot. The number of Vitality Points a policyholder earns over the course of a year determines their program status level. The healthier their lifestyle, the more points they can accumulate to earn valuable travel, shopping and entertainment-related rewards and discounts from leading retailers. Additionally, depending on the type of product they purchase, a policyholder could save as much as 15 percent off their annual premium.
For example, a 45 year old couple (of average health) buying Protection UL with Vitality life insurance policies of $500,000 each could potentially save more than $25,000 on their premiums by the time they reach 85, with additional savings if they live longer, assuming they reach gold status in all years.
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