Life insurance & COVID –
changing minds and expectations
INSURE
For many, COVID-19 served as the ultimate wake-up call. Helping them to re-think, reset and reprioritize. In a recent study conducted by global market researchers, Ipsos, “Americans report a reawakening to what really matters in life.”1 Simply put it’s all about Family, Health and Security.
This shift led to increased interest and inquiries in quality life insurance. In fact, Google Search traffic for “life insurance” jumped 50% between March and May this year as compared with the same period in 2019.2
People want reassurance. They need to know that if the worst were to happen, their family’s hopes, plans and dreams can still go on without them. But more than just financial protection and reassurance for the future, they want and expect greater value for their money today.3
Life insurance with living benefits
The Ipsos study reaffirmed what we at John Hancock have believed and championed for many years. In 2015, we reimagined the life insurance model when we introduced Vitality. An innovative new insurance product, Vitality helps people live longer, healthier lives with access to expert fitness and nutrition tips and tools, along with personalized health goals.
Vitality, which is a part of every life insurance policy we offer, rewards customers for the everyday healthy choices they make. Things like going for a walk, eating more fruits and vegetables, meditating and even getting a good night’s sleep. On top of a potential savings of up to 25% on their policy,4 customers can earn Amazon discounts, savings on healthy foods, fitness gear and travel — even exclusive discounts on the latest wearable technologies.
Staying connected builds better health and healthy habits
We were already living in a connected world. COVID only amplified the extent of our connections with the normalization of daily virtual meetings, school, birthdays, baby showers, doctor’s appointments, cooking classes, workouts and more. So John Hancock has expanded on its network of strategic partnerships with digital innovators like Amazon Halo, Apple Watch and Fitbit to help Vitality customers stay better connected to their health and easily track their progress.
As we’ve learned from behavioral science, when people get positive feedback on their efforts, they’re more likely to stay motivated and follow through on their goals. In fact, a recent Vitality customer engagement study5 found that John Hancock’s life insurance customers are getting healthier as a result of their connected experience:
Offering better health for all
Having witnessed the breakthrough in healthy outcomes for so many customers, John Hancock took the Vitality offering to a whole new audience. Introducing John Hancock Aspire — the first and only life insurance designed specifically for people living with Type 1 and Type 2 diabetes. And a key component to this new offering is the entire suite of Vitality tips, tools, benefits and rewards for living a longer and healthier life.
We also added some new key features and benefits, tailored specifically to help these customers better manage their health and condition. These include:
- Virtual consults with medical experts and specialists
- Free blood glucose meter and testing supplies
- Personal health coaching
Here for your family, health and security
2020 was a year like no other. And no one knows what 2021 will bring. But you can always count on John Hancock to help protect what matters most for you. We’ve been doing just that for more than 158 years.
Citations:
1 Ipsos “Acclimating to life in the time of COVID-19: A Look Into How Americans Are Managing Through A Global Pandemic” — April 2020
2 CNBC: “Americans are ‘panic buying’ life insurance due to coronavirus pandemic” by Greg Iacuri, October 14, 2020 https://www.cnbc.com/2020/10/14/life-insurance-sales-increase-due-to-coronavirus-pandemic.html
3 Compremedia (A Mintel Company) “Value 2021: Priority Shift” — November 20204 Premium savings are in comparison to the same John Hancock life insurance policy without Vitality PLUS. The level of premium savings are cumulative over the life of the policy and will vary based upon underwriting status, issue age, policy type, the terms of the policy and the Vitality Status achieved. Premiums savings are only available with Vitality PLUS. In New York, entertainment, shopping, and travel rewards are not available and are replaced by healthy living and active lifestyle rewards.
5 Findings based on John Hancock’s proprietary “Healthy Outcomes data” for Vitality’s five-year proof points, published on September 2, 2020. Based on loggedactivity through a phone or wearable for registered Vitality PLUS members as of year-end 2019.
6 Based on year-over-year growth of LIMRA sales of John Hancock life insurance products with Vitality compared to Industry, as reported 2016-2019
Apple Watch program is not available in New York or Puerto Rico. Apple Watches ordered through John Hancock Vitality may not be shipped to addresses in Guam. Onceyou become a Vitality PLUS member and complete the Vitality Health Review (VHR), you can order Apple Watch by electronically signing, at checkout, a Retail InstallmentAgreement with the Vitality Group, for the retail price of the watch. After an initial payment of $25 plus tax, over the next two years, monthly out-of-pocket payments arebased on the number of Standard Workouts (10,000 to 14,999 steps) and Advanced Workouts (15,000 steps) or the applicable Active Calorie thresholds. The step countsrequired for Standard and Advanced Workouts are reduced for members beginning at age 71+. One-time upgrade fees plus taxes apply if you choose (GPS + Cellular) versions of Apple Watch, larger watch case sizes, and certain bands and case materials. For more information, please visit JohnHancockInsurance.com. Apple is not aparticipant in or sponsor of this promotion. Apple Watch is a registered trademark of Apple Inc. All rights reserved.
The complimentary Amazon Halo device and three-year Halo membership are only available to new Vitality PLUS Members and are not available with policies issued inNew York, Puerto Rico and Guam. At the end of the complimentary Amazon Halo health and wellness membership, charges will apply automatically to the credit card onfile with Amazon.com unless the membership is opted out of. Amazon Halo allows Vitality members to earn Vitality Points for physical activity, Halo Sleep and Halo Labs.The Amazon Halo health and wellness membership is required in order to earn Vitality Points for Halo Sleep and the full suite of Halo Labs. Other features of Halo are noteligible for Vitality Points with the Vitality Program. Amazon and all related marks are trademarks of Amazon.com, Inc. or its affiliates.
Vitality Rewards may vary based on the type of insurance policy purchased for the Vitality Program Member and are only available to the person insured under the eligiblelife insurance policy.
Rewards and discounts are subject to change and are not guaranteed to remain the same for the life of the policy.
The benefits available under Aspire can vary depending on whether the insured has Type 1 or Type 2 diabetes, the type and coverage amount of the life insurance policypurchased and the level of Onduo engagement with the John Hancock Vitality Program. Eligibility for an Onduo membership is also subject to Onduo’s qualificationrequirements. Certain aspects of Aspire may change over time. There is no coordination between Aspire and any health benefits you may receive from an insurance policy,health plan, or any other wellness programs you may be enrolled in.
Aspire is not available in New York, Idaho and Puerto Rico.
Aspire is offered through life insurance policies with the John Hancock Vitality Program. Products or services offered under the Vitality Program are not insurance and aresubject to change. There may be additional costs associated with these products or services and there are additional requirements associated with participation in theprogram. For more information, please contact the company at JHAspire.com or via telephone at 877-355-2376.Vitality is the provider of the John Hancock Vitality Program in connection with policies issued by John Hancock.
Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Companyof New York, Valhalla, NY 10595.
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