A New Type of Life Insurance to Help You Stay Fit and Support Your Budget?

vitality age

Author’s note: This is a sponsored post that contains affiliate links.

I hope you know this already, but staying fit is more than about putting on a bikini at the beach without being ashamed. Personally, I set my alarm on each morning for a 30 minutes run for two important reasons:

#1 This is the best anti-depressor I’ve experienced as I always feel good and happy after my run.

#2 This is also the only way I can enjoy my glass of wine with dinner and have dessert without feeling guilty!

I first started adding this 30 minute run into my schedule as a necessity to compensate for my long day at work sitting in front of a computer. But now, running is part of my life and I even ran during my vacation on the beach! After several years, I’ve realized that running has helped me in numerous aspects of my life. In fact, living healthier even helped me with my budget!

For example, I was proud to benefit from an additional reduction on my life insurance policy. After the nurse came by my home to analyze my health, the insurance company applied their “healthy client” discount on the quote that I received from the insurance agent. A nice rebate for doing exactly what I’m already doing… I like that!

This happened 5 years ago and it was pretty common at that time to give discounts to healthy clients. I was surprised to find out that Life Insurance Companies are not going a step further with new products encouraging people to live a healthier lives. This is the case of John Hancock Vitality program.

Basically, this is a life insurance policy with a new twist. You can have a discount if you are healthy, and can also earn additional rewards for doing daily activities that are good for your health. You can earn “vitality points” by doing several common sense activities such as walking, going to the gym and even visiting the dentist! The vitality points can then be exchanged for rewards such as gift cards, rebates and even a Fitbit bracelet.

I’m not a big fan of insurance reps exploiting your feelings to sell you a bigger insurance policy. However, I like the fact an insurer is taking a different approach by encouraging people to live healthier lifestyles. It’s a good example of a win-win situation; you pay less for your insurance premiums, you have the ability to earn additional rewards, the life insurance gets good marketing out of it and everybody is healthier at the end of the day.

If you want to know if you need life insurance, here’s a quick trick that doesn’t require you be a wizard at financial planning. You simply have to answer the following questions:


#1 Do you have any financial dependents?

If you have a spouse or kids that depend on your salary to keep up their lifestyle in the event you pass away, you need life insurance.


#2 Do you have debts?

If you have debts such as a credit card balance, a personal loan or a mortgage, and you don’t want your heirs to inherit of your financial burden (yes, heirs must accept all assets and all liabilities linked the estate).


#3 Do you want to play Santa Claus?

Sometimes, people are “over insured”. For example, if you have $300K in debts with a spouse and two kids counting on your salary, you definitely need insurance to cover it all. If you purchase $5M worthe of coverage, you may be playing Santa Claus as your relatives probably don’t need that much money. You can see insurance as an investment vehicle to enrich your family and that is perfectly fine. The important point is to be aware of the impact of your coverage on your budget!


A Fun Quiz to Finish

Reading about John Hancock program, I also found a “Vitality Age Calculator” on their site. It has roughly a dozen questions about your health and habits and give you a “Vitality Age”. This is a cool way to tell you if you are in good shape for your age (I scored exactly my age) or if you need to improve some aspect of your life. Check it out here and let me know what you scored!


Additional note: I received compensation in exchange for writing this review. Although this post is sponsored, all opinions are my own.


Image source: Vitality age website.

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