Many of us start the day with good intentions to eat healthy and exercise. Yet, life often gets in the way. Sound familiar? One life insurance company is attempting to change that with fun rewards and incentives.
John Hancock’s Vitality program is designed to encourage healthy habits. Policyholders earn points for actions like going to the gym, buying nutritious food, tracking sleep, and attending medical check-ups. These points can lead to exciting benefits, such as discounts on smartwatches or gift cards for popular retailers.
Take Matt Hudack, for instance. A financial planner and Vitality member, he proudly shares, “I’ve already got 5,400 points.” He enjoys the incentives, especially discounts at stores he loves like REI. He finds the digital prize wheel fun, spinning for rewards whenever he reaches his activity goals.
John Hancock’s CEO, Brooks Tingle, explains this shift in focus from just planning for death to promoting life. Historically, life insurance has been seen as “death insurance.” Tingle wants to change that narrative. “We’re emphasizing living well and living longer,” he says. Healthier policyholders typically pay premiums longer, benefiting both themselves and the company.
Tingle points out that healthier lives equal longer premiums, resulting in increased profitability for John Hancock. “It’s a win-win,” he notes.
Dr. Dariush Mozaffarian, a cardiologist from Tufts University, helps shape the dietary incentives of the program. He notes the engaging and game-like structure of Vitality. It’s not merely about money; it’s about making health improvement enjoyable. “Creating excitement can lead to better participation,” he says. Research supports this; financial incentives can nudge people toward healthier eating, especially when diet-related diseases are rampant.
While encouraging, others caution about long-term impacts. Dr. Samir Sinha, a geriatrician at Sinai Health System, emphasizes the need for more evidence. He states that while early results show promise—like members walking twice as much as the average American—it’s crucial to see if these habits stick for the long haul.
Furthermore, insurance companies have a history of using tracking for better results. For years, car insurers have offered lower rates for safe driving. Now, life insurance is following suit, offering lower premiums for healthy behaviors.
Overall, John Hancock’s Vitality program is bringing a fresh and uplifting perspective to life insurance. It’s not just about preparing for the end; it’s about committing to a healthier life. For those like Hudack, this support transforms life insurance from a morbid topic into a motivating tool for better living.
As the program gains traction, the concept of health-focused insurance could become the new standard, fostering both healthier individuals and more sustainable profits for companies alike. Curious about the latest in health initiatives? Check out NPR’s Health newsletter.
