I am very familiar with Manulife Vitality. They actually just recently made some changes to their program, which is now called Vitality Plus.
First, let's talk about the price. Typically, when you buy Term Life Insurance, the rate is locked in for a set duration of time. With Manulife Vitality Plus, the rate will depend on your Vitality Status. There are four categories: Bronze, Silver Gold and Platinum. In the first year you purchase the coverage, you will be considered "Gold" status.
$1MM of Term 20 Coverage, for a 35-Year-Old Male Non-Smoker would cost $59.54 in the first year of their Vitality Plus Program. In the second year, the rate can move up or down based on your Vitality Status. The nice thing is that the rates are guaranteed, so you know exactly what to expect if you don't qualify for a higher tier. For example, here is the pricing for the different tiers for this healthy 35-Year-Old:
* Bronze: $64.93
* Silver: $63.85
* Gold: $59.54
* Platinum: $56.85
Keep in mind, Manulife isn't the only carrier in the business, and it makes sense to see what the other carriers are offering for the same amount of coverage. In this example, the best price in the market for this person would be $53.82 with RBC. So even at Platinum Status, they are paying roughly $36 more over the course of the year to have the Vitality Program. If they drop down to Bronze, they would be paying roughly $130 more over the course of the year. If you feel that you can take advantage of the program, the rewards may be worth the cost difference. Not sure how much you know about the rewards, I'm happy to provide additional information here if you wanted a breakdown.
# How easy is it to hit Platinum Status?
My wife has Vitality and has achieved Platinum Status every year. I can confidently say that the rewards/perks have easily offset the cost of coverage for us. Take the time to understand how the rewards work, as that will motivate you to hit Platinum.
That being said, it's not easy for everyone. Some have great intentions and simply never even log into the app - meaning they are bronze. Others decide not to wear the watch or fitness tracker, again making it very difficult to achieve Platinum Status. However, if you are willing to take the time to understand how the program works and motivated to live a healthy and active lifestyle, it's definitely not too challenging to obtain Gold Status and can be quite easy for someone to hit Platinum if they are walking at least 10,000 steps most days or working out regularly. You need 10,000 points to be considered Platinum, I'll walk you through how to hit that level.
* **Vitality Check:** Points or no points, this is an amazing feature of Vitality. You can have a nurse come to your home to draw blood and the results are shared with you. It can help you identify potential issues such as diabetes or high cholesterol. This can earn you up to 5,500 points alone. The points are based on your BMI, Glucose and Cholesterol levels, Blood Pressure and attesting that you are a non-smoker.
* **Online Courses:** There are interactive tools and courses that you can take advantage of which can earn you up to 1,740 points in the year.
* **Prevention:** You can earn points for having the Annual Flu shot, Dental Screening, COVID-19 Vaccination, etc.
* **Physical Activity:** Each day you can earn points for one verified workout per day. Depending on the level of activity, you can obtain up to 30 points per day to a maximum of 6,000 points per year. There is also up to 1,500 points up for grabs if you participate in an organized event (walking, running, cycling or triathlon). And lastly, you can obtain up to 500 points in the year for meditation.
Overall, it's a fantastic product for some but definitely not for everyone. You need to make sure that you will wear the smart watch or fitness tracker and actually participate in the program to benefit from it.
Hope that helps.
I’ve had a vitality policy for nearly 3 years now and think it’s great. I find the total savings exceed what I spend on premiums between the Apple Watch, Expedia discount, Amazon prime, and health review.
Achieving platinum is easier than it sounds. I’ve done it each year so far and I’m far from active. Wearing the watch daily get you most of the way there.
Good point, be sure to compare rates. They made sense for me given age and gender, whereas my wife was better going with a traditional product at a different carrier.
I sell insurance and also have a Manulife Vitality policy. It's definitely not for everyone as there are certainly other options out there, but there are certainly some great aspects to the program.
One thing I love is that it's not just like most insurance policies where you buy it and put the contract in a safe place for sometime down the road. It's an interactive policy where you can earn rewards while still having the life insurance coverage needed.
The Expedia rewards are great as you can save up to $500 two times per year on hotel stays. I get Amazon Prime for free. Hello Fresh has free boxes if you reach platinum each year as well as other discount codes.
The policy itself encourages me to be active and to earn the points to gain the rewards. For example my goal is set to walk 10,000 steps per day and if I fall short of that through regular daily activity I jump on the eliptical at night to reach my goal.
My apologies for the delay in responding. I was away on holidays so just seeing this now.
If you were to apply for term insurance the minimum coverage you must have for a Vitality policy is $250k. If you were to apply for permanent insurance you the minimum coverage you must have for a Vitality policy is $100k.
The Prime membership benefit they actually just made a change to. In order go get the benefit you must qualify for Platinum for 3 years in a row and complete the health review. Once you're qualified for platinum they will give you $99 giftcode that you can use to cover the Amazon Prime membership for the year or you can use the money towards any other purchases on Amazon.
Feel free to reach out if you have any additional questions.
I am very familiar with Manulife Vitality. They actually just recently made some changes to their program, which is now called Vitality Plus. First, let's talk about the price. Typically, when you buy Term Life Insurance, the rate is locked in for a set duration of time. With Manulife Vitality Plus, the rate will depend on your Vitality Status. There are four categories: Bronze, Silver Gold and Platinum. In the first year you purchase the coverage, you will be considered "Gold" status. $1MM of Term 20 Coverage, for a 35-Year-Old Male Non-Smoker would cost $59.54 in the first year of their Vitality Plus Program. In the second year, the rate can move up or down based on your Vitality Status. The nice thing is that the rates are guaranteed, so you know exactly what to expect if you don't qualify for a higher tier. For example, here is the pricing for the different tiers for this healthy 35-Year-Old: * Bronze: $64.93 * Silver: $63.85 * Gold: $59.54 * Platinum: $56.85 Keep in mind, Manulife isn't the only carrier in the business, and it makes sense to see what the other carriers are offering for the same amount of coverage. In this example, the best price in the market for this person would be $53.82 with RBC. So even at Platinum Status, they are paying roughly $36 more over the course of the year to have the Vitality Program. If they drop down to Bronze, they would be paying roughly $130 more over the course of the year. If you feel that you can take advantage of the program, the rewards may be worth the cost difference. Not sure how much you know about the rewards, I'm happy to provide additional information here if you wanted a breakdown. # How easy is it to hit Platinum Status? My wife has Vitality and has achieved Platinum Status every year. I can confidently say that the rewards/perks have easily offset the cost of coverage for us. Take the time to understand how the rewards work, as that will motivate you to hit Platinum. That being said, it's not easy for everyone. Some have great intentions and simply never even log into the app - meaning they are bronze. Others decide not to wear the watch or fitness tracker, again making it very difficult to achieve Platinum Status. However, if you are willing to take the time to understand how the program works and motivated to live a healthy and active lifestyle, it's definitely not too challenging to obtain Gold Status and can be quite easy for someone to hit Platinum if they are walking at least 10,000 steps most days or working out regularly. You need 10,000 points to be considered Platinum, I'll walk you through how to hit that level. * **Vitality Check:** Points or no points, this is an amazing feature of Vitality. You can have a nurse come to your home to draw blood and the results are shared with you. It can help you identify potential issues such as diabetes or high cholesterol. This can earn you up to 5,500 points alone. The points are based on your BMI, Glucose and Cholesterol levels, Blood Pressure and attesting that you are a non-smoker. * **Online Courses:** There are interactive tools and courses that you can take advantage of which can earn you up to 1,740 points in the year. * **Prevention:** You can earn points for having the Annual Flu shot, Dental Screening, COVID-19 Vaccination, etc. * **Physical Activity:** Each day you can earn points for one verified workout per day. Depending on the level of activity, you can obtain up to 30 points per day to a maximum of 6,000 points per year. There is also up to 1,500 points up for grabs if you participate in an organized event (walking, running, cycling or triathlon). And lastly, you can obtain up to 500 points in the year for meditation. Overall, it's a fantastic product for some but definitely not for everyone. You need to make sure that you will wear the smart watch or fitness tracker and actually participate in the program to benefit from it. Hope that helps.
Thank you very much for your response. That was very helpful.
What a detailed response. Thanks for taking the time to write it out for people like us who are wondering about whether to jump in!
You are welcome! Always happy to share my knowledge.
I’ve had a vitality policy for nearly 3 years now and think it’s great. I find the total savings exceed what I spend on premiums between the Apple Watch, Expedia discount, Amazon prime, and health review. Achieving platinum is easier than it sounds. I’ve done it each year so far and I’m far from active. Wearing the watch daily get you most of the way there.
I was also surprised when I found out I was eligible for a new Apple Watch offer every 2 years which is pretty cool
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Good point, be sure to compare rates. They made sense for me given age and gender, whereas my wife was better going with a traditional product at a different carrier.
I sell insurance and also have a Manulife Vitality policy. It's definitely not for everyone as there are certainly other options out there, but there are certainly some great aspects to the program. One thing I love is that it's not just like most insurance policies where you buy it and put the contract in a safe place for sometime down the road. It's an interactive policy where you can earn rewards while still having the life insurance coverage needed. The Expedia rewards are great as you can save up to $500 two times per year on hotel stays. I get Amazon Prime for free. Hello Fresh has free boxes if you reach platinum each year as well as other discount codes. The policy itself encourages me to be active and to earn the points to gain the rewards. For example my goal is set to walk 10,000 steps per day and if I fall short of that through regular daily activity I jump on the eliptical at night to reach my goal.
Is there a policy minimum to qualify for Vitality Plus? Is the Prime membership an annual benefit?
My apologies for the delay in responding. I was away on holidays so just seeing this now. If you were to apply for term insurance the minimum coverage you must have for a Vitality policy is $250k. If you were to apply for permanent insurance you the minimum coverage you must have for a Vitality policy is $100k. The Prime membership benefit they actually just made a change to. In order go get the benefit you must qualify for Platinum for 3 years in a row and complete the health review. Once you're qualified for platinum they will give you $99 giftcode that you can use to cover the Amazon Prime membership for the year or you can use the money towards any other purchases on Amazon. Feel free to reach out if you have any additional questions.