John Hancock Adds Vitality Solution to Accumulation VUL Product 

With the John Hancock Vitality solution, Accumulation VUL policyholders have the opportunity to increase their policy cash value, while also earning valuable rewards and discounts by taking simple steps to improve their health.

(Image credit: Dollar Photo Club.)

John Hancock (Boston) has extended its wearables-driven Vitality solution to its variable universal life insurance product, Accumulation VUL, designed for pre-retirees and featuring a strong death benefit protection and cash value accumulation potential.

(Related: John Hancock’s Vitality Program: SVP Brooks Tingle Talks Wearable Devices)

With the John Hancock Vitality solution, Accumulation VUL policyholders have the opportunity to increase their policy cash value, while also earning valuable rewards and discounts by taking simple steps to improve their health, according to a carrier statement. Policyholders who actively engage in the program throughout their lifetime have the potential to increase their policy value by thousands of dollars as they near retirement age.

Michael Doughty, President, John Hancock Insurance.

Michael Doughty, President, John Hancock Insurance.

“Americans are increasingly concerned about outliving their savings in retirement,” comments Michael Doughty, President, John Hancock Insurance. “They are also living longer, but not necessarily healthier lives.  Accumulation VUL with Vitality can help them increase their retirement income potential while also motivating and rewarding them for living healthy — now and in the future.”

Accumulation VUL with Vitality also provides policyholders with the opportunity to fund other expenses, including paying for college or supporting a business, the insurer notes. They can choose from a diversified range of underlying investment accounts that represent nearly every major asset class and investment style, or opt for the simplicity and automatic diversification offered by John Hancock’s Lifestyle MVP Portfolios.

John Hancock will give Fitbit devices to all new Accumulation VUL policyholders participating in the Vitality program.

John Hancock will give Fitbit devices to all new Accumulation VUL policyholders participating in the Vitality program.

Discounts and Rewards

Policyholders participating in the John Hancock Vitality Program immediately begin accumulating “Vitality Points” after their policy is issued, and when they complete health-related activities such as exercising, getting an annual health screening or even a flu shot.  The number of Vitality Points a policyholder earns over the course of a year determines their program status level.  The higher their Vitality Status, the more policy credits may be earned and applied to their policy cash value. Additionally, the healthier their lifestyle, the more points policyholders can accumulate to earn valuable travel, shopping and entertainment-related rewards and discounts from major brands such as Amazon, Hyatt, and REI.

As part of the program, policyholders receive personalized health goals and can log their activities using online and automated tools, which are integrated with personal health technology. John Hancock is giving every new policyholder a free Fitbit device as just one of several  ways to keep track of their progress.

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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