Life insurance can feel a bit gloomy, right? Most of us picture it as something that steps in to support your loved ones after you’re, well, no longer here.
John Hancock is trying to turn that idea on its head — and inject some literal life into its insurance offerings.
The company has partnered with Vitality, which manages wellness and benefits programs for employers and insurers.
If you lead a healthy life — or are willing to adopt healthier habits — you could reduce what you pay for insurance and put some money back into your grocery budget.
Any John Hancock life insurance customer can enroll, and you may start seeing this and similar initiatives show up at workplaces more often. Davina HealthCare Partners, biotech firm Amgen and eye-care maker Alcon have all enrolled employees in wellness benefits handled through Vitality, according to MarketWatch.
How This Affects What You Buy at the Supermarket
Vitality runs a HealthyFood benefit via NutriSavings, claiming you might save as much as $600 a year on groceries you’re likely already purchasing at dozens of stores, including Wegmans, BJ’s, Giant, Stop & Shop and even Walmart.
To participate and monitor your savings, register your store loyalty card with the program. A few days after shopping, log in to see how nutritious your cart was and what cash-back reward you’ve earned.
The NutriSavings HealthyFood example list leans toward wholesome choices. If you’ve ever picked up whole-wheat bread or whole-grain pasta, you’re in line for a discount.
Frozen vegetables make the produce roster, as do bags of mixed salad greens. It’s not just branded products — staples such as apples, eggs and milk qualify, too.
The Great for You Walmart-specific checklist is broad: craving apple juice, collard greens or a bowl of Raisin Bran? Those items can earn you a discount.
For tips on buying sensible groceries on a budget, also check out cheap healthy food staples that stretch your dollars while supporting better eating.
Other Perks: Save on Premiums and Earn Rewards
After you’ve obtained your John Hancock life policy, take a quick assessment to gauge how healthy your habits are. Set targets, receive a complimentary Fitbit to monitor activity, and accumulate Vitality Points.
Depending on how actively you engage, you could cut up to 15% off your premium for the following policy year.
Members also qualify for deals and incentives from merchants such as Amazon, REI and Whole Foods. One simple way to rack up points is by watching short educational videos about healthy behaviors.
Would You Share Your Diet or Fitness Data with Your Employer?
It’s normal to provide lifestyle details when applying for life insurance. Insurers typically want assurance you aren’t severely overweight or smoking heavily before underwriting a large policy.
So joining John Hancock’s Vitality initiative might not feel like a big leap for existing customers.
But how about signing up through your employer?
Would you participate if your manager or HR team encouraged healthier choices?
MarketWatch reported that 85% of employees at Lockton’s Kansas City office have taken part in its Vitality program since 2011. Those who opted out most often cited privacy worries or simply not needing the discounts, said an HR rep.
Vitality told MarketWatch that they place privacy first, noting they handle more detailed data than John Hancock or other partners and that the information is never sold to outside parties.
Your Call: Would you enroll in the Vitality program if you held John Hancock life insurance? What if your employer offered it?
— Written by Ana Rivera
