I know that many brokers simply sell the cheapest term life insurance product available in the market. I do not always agree with that approach and wanted to share with you an alternative solution which you may find valuable, it’s called the Manulife Vitality Program. I will start by saying this program is geared towards someone living an active lifestyle and willing to wear a fitness tracker. If that’s you, keep reading…
Both myself and my wife absolutely LOVE the Manulife Vitality Program. I am an insurance broker, and we are both in the Manulife Vitality Program. Will it be the best price in the market? Not always, but that’s ok as there is tremendous value within the program itself. How does it work? You simply collect points for everyday activities such as walking or going to the gym. You also get points for completing online courses and setting and achieving certain goals. If you are active, and hit top tier status, you may be in the position to have the best rate possible in the marketplace. So what’s to love? I’ll explain how my wife and I have personally benefited over the past couple years.
- Free Garmin Device – you can choose to take the free Garmin Vivofit 4 or choose to upgrade to a newer/better model. While there is a cost to upgrade, you do get a credit of $112.50 towards the device. I upgraded to the Garmin VivoActive 3.
- Apple Watch Program – You can choose to obtain the Apple Watch 3 for $0 or the Apple Watch 5 for an $97 initial payment. Then you have a monthly payment, ranging from $0 to $10.75 for Apple Watch 3 or $0 to $18 for the Apple Watch 5. The amount you pay each month is depending on how many points you achieve. If you have very little activity, you pay the highest amount. If you are really active, you pay $0. This is very motivating for many, and my wife has typically paid $0 each month. That said, there were a couple months where she had to pay $9 since she didn’t get her full 500 points. This was the least expensive way for her to get an Apple Watch and she loves it. She also received her free Garmin Vivofit4, which she turned around and sold for $70.
- Amazon.ca gift cards – there are a couple games within the program that you can play on a weekly basis. One is Vitality Squares (it’s like a lottery scratch ticket, the more fruit you scratch, the more you win). Uncover 4 fruit, you win a $5 Amazon Gift Certificate. 5 Fruit, you win $15 and if you uncover all 6 fruits, you win a $500 Amazon Gift Certificate! Another is Spin the Vitality Wheel, where each week when you meet your target, you will receive a chance to win points or a gift card. There is also currently a special where you earn gift cards every time you reach a new status. The maximum for this is $90. Should mention, that program may be done this June, unless Manulife extends again. My wife and I have earned a combined amount of $155 in Amazon Gift Certificates.
- Hotels.com Member Discount – the higher your status the bigger your discount. Bronze – 0%, Silver – 15%, Gold – 25% and Platinum – 50%. My wife hit Platinum. We used our 50% discount at Great Wolf Lodge. We booked one of their family suites (as we are going with another couple, and their kids). The regular price is $650 per night, and we got it for $325 per night. Can’t beat that deal!
- GoodLife Fitness – Now, I personally don’t take advantage of this as I don’t work out in a gym. That said, I have clients who use it and tell me it’s fantastic. Being a corporate membership, they have access to towel service and they receive a 55% discount on their one-year membership. This brings the annual cost down to $399 (regular $799).
- Annual Heath Assessment – You can have a nurse come to your home or office and obtain a free wellness screening, at no charge annually. Essentially, they are drawing your blood, running some tests and sharing the results with you. Not only does this give you a better indication of your overall health, you get a massive amount of points by doing so. Last year, I found out that a couple of my readings were borderline, and took steps towards a better diet. In fact, you can set goals within the Manulife Vitality program, which can help you hit your goals. I personally never go to the doctor, and seeing my results definitely encouraged me to make a few changes to my lifestyle. I will be booking my next health assessment shortly, hopefully my results are all in the green this year!
Pricing for the Manulife Vitality Program is very competitive in the market. When working with a broker (like us!), you can ask them to compare the price of the Manulife Vitality Program to the cheapest rate in the market for the coverage you are looking for. This way you can decide is the slight cost difference is worth it for you or not. For us, we came out ahead.
As per the tracking, you need to wear the device (or the Apple Watch) if you want to take full advantage of the program. These devices automatically sync with the Vitality app which will track your activities for you. This makes it very easy to hit your goals if you are active. There are other ways to earn additional points, such as online nutrition courses, getting your flu shot and checking in on your goals.
In conclusion, we have significantly benefited from having the Manulife Vitality Program. Not only financially, but it also helped us take steps to living a healthier lifestyle.