Manulife Financial announced May 2 that it is launching a new whole life insurance plan “that rewards individuals for taking steps to improve their health.” The rewards are those offered through the company’s behavioural insurance program, known as Manulife Vitality.
“Our latest consumer data reveals that 68 per cent of Canadians believe insurance companies should focus more on preventative health measures and two in three want to be rewarded for their healthy behaviours,” says Manulife Canada’s head of individual insurance, Paul Savage. Vitality was launched in 2016 “to take a proactive interest in our customers’ well-being,” the company adds in a statement.
The Manulife Par product offers guaranteed cash values early, guaranteed premiums and coverage. The Vitality program, meanwhile, allows clients to access discounts and rewards. Coverage starts at $100,000.