What? You got an #Apple Watch with your new #insurance policy?
A common complaint many people have about life insurance is that they will be dead when the benefit pays out. : ( Well, John Hancock’s new “Vitality” program is solving that problem.
My term life insurance policy was coming to an end, and I needed a new policy. My friend told me about the Vitality program because he had been doing it for about 8 months and loved it. I still have my insurance licenses, so I checked it out and wrote a new policy for myself.
Basically, John Hancock will give you a “device” (I chose the Apple Watch) for an extreme discount. I think I paid $40 or so. Each month, you have to pay a little more ($15.50 in my case) UNLESS you meet the activity goals. You acquire Vitality Points based on exercise, walking, or just general movement. For instance, if I walk 10,000 steps, I get 20 Points as a “standard workout”.
If I accrue 500 points or more during the month, I do not have to pay the $15.50 for the Apple Watch! I think it is brilliant. So, not only am I protecting my family in case something happens to me, I get a really great device and an incentive to be active. It’s a win-win-win.
Just last night, I was a little short of my daily goal, so I did a quick 7 minute workout (another app I love) to get me to my goal. Normally, I wouldn’t have thought anything about it and just went to bed!
I’ve talked with a few people about it, and some have mentioned other companies are doing similar incentives to promote healthy living. I think this trend is fantastic.
If you haven’t reviewed your life insurance policy lately, now might be a good time to do so. Companies are starting to get very creative with the benefits they are offering.
But when you do a review, make sure you shop carriers based on your individual needs. In my case, John Hancock gave a competitive premium and had the Vitality program which was an added bonus. There are a lot of factors to consider when evaluating insurance in your plan, just make sure you do your due diligence to find the right fit for your unique situation.