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United States : John Hancock Adds Vitality Solution to Variable Universal Life Insurance.

John Hancock Insurance announced today that the John Hancock Vitality solution, a new approach to life insurance that rewards people for healthy living, is now available on its variable universal life insurance product, Accumulation VUL.

Accumulation VUL with Vitality is designed for pre-retirees and features strong death benefit protection along with cash value accumulation potential to help consumers better prepare for the future. 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.

John Hancock Vitality 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.

Americans are increasingly concerned about outliving their savings in retirement, said Michael Doughty, President of 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."

In addition, Accumulation VUL with Vitality provides policyholders with the opportunity to fund other expenses, including paying for college or supporting a business. 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 Hancocks Lifestyle MVP Portfolios.

With the John Hancock Vitality Program, clients immediately begin accumulating Vitality Points after their policy is issued and when they complete health-related activities like 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. In addition, 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 easily log their activities using online and automated tools, which are integrated with personal health technology. In fact, John Hancock is giving every new policyholder a free Fitbit device as just one of many easy ways to keep track of their progress.

As of today, Accumulation VUL with Vitality is available in 34 states and John Hancock will continue to roll it out across the country. The company also offers the Vitality solution on Protection UL, Protection IUL and Accumulation IUL, and John Hancock Term with Vitality.

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Publication:Mena Report
Date:Dec 10, 2015
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