Now you can get a new kind of life insurance that will reward you continually for healthy living. The experience is like no other in Canada. In this program you will have opportunities to save on insurance premium and earn rewards for taking steps in improving your health.
With the use of technology, this program promises to shake up the life insurance industry finding new ways to connect with customers and allowing participants to take a proactive role in improving their health.
The program is available through Manulife, the insurer has partnered with the Vitality Group and is currently available only on a limited product lineup as follows;
- Coverage of $500,000 to $20 Million
- Term 20 and Term to age 65
I completed a side by side premium comparison with all the other insurers in Canada providing term 20 at various age groups and in most cases with the discount Manulife Vitality comes in at first place if not second, so it is definitely worth a look.
How it works
the application process applicants will take an online Vitality Health Review to determine their Vitality Age. The age displayed can improve over time is the participants works towards living a healthier life. Try the Vitality calculator.
People that sign up for life insurance under the Vitality program will get a discount at the gold level immediately. If the participant takes steps to live a healthy lifestyle they can maintain that level of discount and perhaps move up to the next level of platinum. Once the policy is issued members will immediately begin to earn points. Points can be earned through steps to improve health by using fitness trackers, getting an annual health screening, going to the dentist, online education and so on. The more points accumulated the more savings and greater the rewards.The rewards program is administered by The Vitality Group and does not share the activity statistics with Manulife. The insurance company only gets the total points earned over the year to provide a discount to the insured.
Free Garmin wearable device
To get started on the program members will receive a Free Garmin wearable device, the vivofit3. The device comes in white or black and will help members to stay active with move bar and audible alert. The device shows steps, calories, distance, etc. If you chose to do so you can use your own device such as an Apple Watch to participate in the program.
GoodLife Fitness discount
The program rewards participants with keeping active and getting to the gym can prove to be very rewarding for your health. Members will have exclusive access to a GoodLife Fitness discount. The fitness club membership discount of up to 55% off retail.