Manulife Vitality: Changing the conversation for life insurance advisors

Canadians care deeply about their wellness, and their interest is only growing as the country rebounds from the COVID-19 pandemic with a fresh outlook on personal health and wellbeing. This social focus presents immense opportunities for life insurance advisors, according to Manulife Canada.

The Toronto-based multinational insurance company follows the principal that insurance should be “more than protecting your loved ones; it’s about living your life to the fullest”. Life insurance advisors can turn that message into action by encouraging term life insurance clients to engage with Manulife Vitalityan innovative product that allows clients to earn rewards and save on their insurance premiums while improving their health.

“Manulife Vitality is a health and wellness program that can be added to a Manulife term life insurance policy. It rewards clients for making healthy decisions,” explained Paul Savage (pictured), head of individual insurance, Manulife Canada. “This program provides shared value in that it benefits society, while also benefiting our bottom line. It is a very natural fit for the insurance industry.

“When our customers engage in healthy behaviors and take steps to live healthier and longer lives, that’s good for them, it’s good for their families, and it’s good for society as a whole because it reduces the burden on the healthcare sector. It’s also good for us because if our customers are living healthier and longer lives, they’re less likely to claim on their insurance policies, or they’re not claiming on them for a longer period of time.”

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Launched in 2016, Manulife Vitality now has tens of thousands of members across Canada, who are tracking their everyday healthy activities through a customized, goal-oriented program, and with the help of Manulife Vitality tips and convenient easy-to-use tools such as wearable devices.

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