If you’re in the market for a new health plan, you’ve probably heard of John Hancock Vitality. While its success has yet to be proven, the benefits of the program are clear. One of its primary draws is its reward system based on healthy choices. Two other aspects, its cost and its appeal for a prosperous future, are also significant.
The program aims to make people more active
The John Hancock Vitality Program is a technology-based program designed to help its members become more active. The program provides resources, education, tools, and technology to help members become more active. Members can also earn incentives and rewards for reaching certain health goals. For example, when a member’s COVID-19 level is elevated, they are less likely to seek emergency care. Similarly, participants spend more time exercising at home rather than relying on outside fitness facilities.
Vitality program by Manulife Financial, a major life insurance company based in South Africa. Its customers take twice as many steps as the average American. As a result, they can expect to live 13 to 20 years longer and have 30 percent lower medical expenses. The Jeevan Shakti program also aims to reward consumers for eating healthy and reading nutritional news. It also addresses concerns about personal health information.
The Apple Watch has become one of the latest products in the John Hancock Vitality program. The Apple Watch Series 6 and SE will be available to consumers in October 2020. Both watches can measure blood oxygen levels and perform electrocardiograms. Participants use an Apple Watch to log their activity levels and send their heart rate information to the company’s management team. Originally, the program was limited to new customers, but in 2018 John Hancock made it available to all policyholders.
By incorporating healthy choices into daily routines, john hancock vitality life insurance offers both financial and wellness benefits.
Rewards based on healthy choices
The new John Hancock Vitality Rewards program allows its customers to save on their insurance premiums by making healthy choices. Members can also earn points that can be redeemed at participating grocery stores. These rewards are similar to those offered with John Hancock’s life insurance plan. Healthy food choices are important to keeping the body healthy, and the HealthyFood Program helps policyholders make better choices when shopping for groceries.
The John Hancock Vitality Program was launched in 2015. The company partnered with Vitality, a company in Chicago, to give participants free Fitbit wearable devices. The program works with most of these devices and includes an app that integrates personal health technology into everyday life. One can earn Gold status by making healthy choices and earning points in the Vitality program to receive free Fitbit devices and other prizes.
Those who participate in the program can earn bonuses and discounts based on how often they make healthy choices. Rewards for healthy eating are based on the number of calories, sodium, and other nutrients consumed. If a policyholder consumes more fruits and vegetables than they should, they can earn points by purchasing healthy foods at discounted prices. Rewards can be reinvested for the benefit of both the insurer and the customer.
The program is currently available on select John Hancock life insurance policies. The premium savings will depend on the status of the life insured or the purchase of the policy. This program is available only to those insured under an eligible life insurance policy. For those who do not have life insurance, the Vitality program offers generous conversion facilities that help policyholders move to permanent products. The program is a great way to keep your policy active and save money on premiums.
John Hancock Vitality rewards policyholders with benefits based on healthy choices through its John Hancock insurance policy.
Program’s appeal to affluent prospects
By aligning itself with popular millennial companies like REI and Amazon, life insurer John Hancock is appealing to a highly desirable demographic. Both brands are based on social media, reliability, and ease of use, while Millennials value outdoor activities. Insurance companies that fail to attract this demographic will see their books of business shrink and profits decline. To make the most of this demographic, John Hancock has introduced a new wellness program called Vitality.
While Vitality is not tracking the pandemic, it is taking cues from other insurance segments, including life insurance. Vitality USA sends blood oxygen level meters to its most at-risk employees to determine how healthy they are and when to go to the hospital. By focusing on healthy behaviors, the company can better tailor its offerings to high-risk policyholders. In addition, data from Vitality USA will be valuable to better understand COVID-19 risk factors.
Program’s costs
There are many costs associated with the John Hancock Vitality program. Depending on the level of health insurance coverage you have, you can sign up for the Vitality Go or Vitality Plus tracks. Each track offers different benefits and incentives for members, such as the ability to earn premium savings. Plus, you can get a free Fitbit or Amazon Halo wearable device as part of the Vitality program.
In 2015, the company launched a program called Jeevan Shakti, which offers rewards for participating in healthy habits. For example, you can get 15% off your health insurance premium, up to $600 in annual savings, and even gift cards and discounts on entertainment and wellness-related purchases. Additionally, you can get an Apple Watch for just $25. But if you’re unsure about whether the program is worth the price, check out the pros and cons.
One of the benefits of the Jeevan Shakti program is the health incentives. Vitality participants earn points for abstaining from tobacco, alcohol, and smoking. Participants also get points for getting more exercise and reducing the amount of weight they lose. Lifestyle USA has also invested in community initiatives and projects. It is worth looking at the cost involved in the vitality program. You will be pleasantly surprised at the savings. This program is a worthwhile investment for several reasons.
When it comes to the cost of the John Hancock Vitality program, you should consider whether you want to pay the extra $20 a year for it or choose a lower-cost term product. Vitality program is installed in all flagship manufacturers such as Protection Ul and Vitality Go. Also, you can transfer your Vitality GO points to Vitality PLUS, which offers more discounts and rewards for policyholders.
However, the John Hancock Vitality cost may remain higher for those who do not actively participate, and additional expenses for fitness devices or memberships may apply.
