BOSTON, Oct. 19, 2017 /PRNewswire/ -- A new survey
commissioned by John Hancock found
that almost half (47 percent) of people living with diabetes are
worried they won't qualify for a life insurance policy, and another
45 percent assume it's too expensive. On the contrary, more than 90
percent of all the people with diabetes who sought life insurance
from John Hancock in the past 18
months qualified, with 88 percent of them receiving a standard or
better rate.
"Our survey confirmed a pervasive belief among many people with
diabetes that they either won't qualify for life insurance or that
it isn't affordable," said Brooks
Tingle, senior vice president and interim head of John
Hancock Insurance. "John Hancock is
committed to helping all Americans understand that life insurance
is both attainable and an important way to protect their families'
future. In fact, a new kind of life insurance allows people with
diabetes to pay less for their annual premiums simply by making
healthy choices like getting regular check-ups, eating well and
staying active."
According to the survey, people with diabetes recognize the many
benefits life insurance can provide—including providing for their
family (81%), covering final expenses (68%), and providing peace of
mind (50%). Yet almost 40 percent of people with diabetes who don't
have a life insurance policy say they are unlikely to apply for one
in the future.
Survey respondents' hesitation comes from confusion about life
insurance, especially for those living with diabetes. Only 32
percent of people with diabetes consider themselves knowledgeable
about life insurance. Their top questions include:
- Is life insurance more expensive because I have diabetes?
(51%)
- Will I be able to get life insurance with diabetes? (47%)
- Will I need a medical exam in order to get life insurance?
(41%)
- Can I afford a life insurance policy? (40%)
A new kind of life insurance
John Hancock life insurance with Vitality
rewards policyholders for the choices they make every day to
improve their health—exercising regularly, eating well and visiting
the doctor—things people with diabetes are already encouraged to
do.
Customers can earn valuable rewards, including an Apple Watch
for $25 by exercising
regularly1 and $600 in
annual savings on healthy food purchases2, and can save
as much as 15 percent on their annual life insurance premiums.
About 75 percent of people with diabetes say this kind of life
insurance that rewards and saves them money for healthy activities
is appealing. More than that:
- 65 percent agree it would motivate them to live a healthier
life.
- 60 percent agree it would provide them with additional support
to help them manage their diabetes.
- 52 percent agree it would help them to afford life
insurance.
Over 30 million people in the U.S. are living with diabetes, and
another 84 million have prediabetes. Globally, diabetes is
considered the single greatest chronic disease threat to health
today3.
"With advancements in treatments and underwriting, most people
living with diabetes can get the important life insurance coverage
they need," said Brooks Tingle.
"John Hancock's long-standing
experience in the industry, along with our in-depth medical
knowledge, puts us in a unique position to offer life insurance to
people living with diabetes, particularly those who are
successfully managing their condition. And we find that the
vast majority of people living with diabetes are doing just
that."
To learn more about life insurance that rewards you for healthy
living, visit JHRewardsLife.com.
Survey Methodology
This nationwide survey was
conducted online by Qualtrics on behalf of John Hancock. Interviews were completed in
September 2017 among 1,025 U.S.
adults ages 25 years and older living with diabetes. The data was
weighted by age, income, ethnicity and region to accurately
represent the U.S. population.
About John Hancock and
Manulife
John Hancock is a
division of Manulife Financial Corporation, a leading international
financial services group that helps people achieve their dreams and
aspirations by putting customers' needs first and providing the
right advice and solutions. We operate primarily as John Hancock in the
United States, and Manulife elsewhere. We provide financial
advice, insurance and wealth and asset management solutions for
individuals, groups and institutions. Assets under management and
administration by Manulife and its subsidiaries were over
$1 trillion (US$780 billion) as of June
30, 2017. Manulife Financial Corporation trades as MFC on
the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be
found at manulife.com.
One of the largest life insurers in the United States, John Hancock supports approximately 10 million
Americans with a broad range of financial products, including life
insurance, annuities, investments, 401(k) plans, college savings
plans, and certain forms of business insurance. We also offer
advice through Signator, a network of independent financial
advisors. Additional information about John
Hancock may be found at johnhancock.com.
1. Apple Watch can be ordered for an initial payment of
$25 plus tax and over the next two
years, monthly payments are based on the number of workouts
completed. An iPhone 5 or later is required to use Apple Watch. The
Retail Installment Agreement with the Vitality Group will need to
be signed electronically at checkout. Apple is not a
participant in or sponsor of this promotion. Apple Watch is a
registered trademark of Apple Inc. All rights reserved. Please
note: Apple Watch program is not available in New York.
2. HealthyFood savings are based on qualifying purchases and may
vary based on the terms of the John Hancock Vitality program.
3. Source: American Diabetes Association, 2017 and Beyond –
our Vision and Direction.
Premium savings are in comparison to the same John Hancock policy without the Vitality
program. Annual premium savings will vary based upon policy type,
the terms of the policy, and the level of the insured's
participation in the John Hancock Vitality program.
Vitality is the provider of the John Hancock Vitality Program in
connection with policies issued by John
Hancock.
Rewards and discounts are subject to change and are not
guaranteed to remain the same for the life of the policy.
Insurance products are issued by John Hancock Life Insurance
Company (U.S.A.), Boston, MA 02210 (not licensed in New York) and John Hancock Life Insurance
Company of New York, Valhalla, NY 10595.
MLINY101117058
PR-2017-75
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SOURCE John Hancock