Advisor Today - July/August 2016 - (Page 16)

PRODUCT SPOTLIGHT LIFE INSURANCE By Ayo Mseka Rewarding Clients for Engaging in Healthy Activities Thanks to this new approach to life insurance, clients can now link their long-term health to their financial well-being. F or over a year, John Hancock Insurance has been taking major steps in changing the way consumers think about their life insurance policies. Last year, the company launched its John Hancock Vitality Program, which reinvented the life insurance experience for many policyholders by allowing them to connect their long-term health to their financial well-being. The program provides savings and rewards to policyholders who complete health-related activities like exercising, getting an annual health screening or receiving a flu shot. Individuals have the option to track their physical activity with smartphone apps and devices like the Apple Watch and Fitbit. In April of this year, the company announced an expansion of its program with the addition of the HealthyFood Program. Under this program, John Hancock Vitality policyholders can earn rewards for the healthy food choices they make every day with real-time discounts and/or cash-back of up to $600 a year on their grocery bills. They can also earn program points that lead to savings on their annual premiums, by as much as 15 percent. The Vitality HealthyFoodTM component rewards policyholders for purchasing healthy food at any of the 16,000 participating stores nationwide, including Walmart and other major grocery chains in the NutriSavings network. A complete list of included grocery stores can be viewed at http://www.nutrisavings. com/all-retailers/. Policyholders also gain nutritional information and guidance that will help them adopt healthier eating habits through collaboration with the Friedman School of Nutrition Science and Policy at Tufts University. 16 ADVISOR TODAY | July/August 2016 The group that is the most excited about the new product is the agent, because it essentially changes the conversations they have with their clients. "Over the past year, we've seen our customers embrace the John Hancock Vitality program. In fact, our policyholders are taking an average of 9,205 steps per day[i], compared to the average U.S. adult, who takes an average of 5,900 daily steps[ii]," said Michael Doughty, president, John Hancock Insurance. "But fitness without good nutrition is not nearly as impactful on your health as when you combine the two. Now, with the addition of the Healthy Food program, policyholders can be rewarded for both walking a few more steps and making healthy food choices to improve their overall health." "We used to sell death insurance. Now, we sell life insurance," added Brooks Tingle, Senior Vice President, Marketing and Strategy, for John Hancock. "The premise behind our thinking is that we want consumers to live a long and healthy life; so, we created a program to do just that by actively engaging the customer in decisions relating to his health and life." The results so far have been great, noted Tingle. "People are excited about the product and have been calling us about it-which is rare. They are excited because of the living part of the program." And it is not just the young who are showing interest-all generations appear to be enthusiastic. In fact, the first call John Hancock received about the product was from a 72-year-old man. cont'd on page 20

Table of Contents for the Digital Edition of Advisor Today - July/August 2016

From the Editor
A Question of Ethics: Reflections on the Dol Fiduciary Rule
Getting the Wealthy Investor to Hire You
Positioning Whole Life for Success
Rewarding Clients for Engaging in Healthy Activities
Feel the Heat: Sizzling Strategies for Boosting Worksite Sales
The Challenges of Writing Business Insurance
A Lifetime of Success
Safeguarding Your Business Interests
NAIFA Presents Nominees for Election
What’s Behind Brand Magic?
Making an Effective Call Back
A Story for All Your Clients
Ideas to Expand Your Practice
Advertiser Index
Back Page

Advisor Today - July/August 2016