John Hancock’s Exercise Rebate

Article posted in: Fitness

We love that insurance giant John Hancock is offering discounts and rewards to customers who track their exercise. Hancock announced Wednesday that it will become the first American life insurance company to offer discounted rates to its life insurance customers who will track their exercise and other health information and share it with the company, which will offer lower rates to those who stay in shape. The idea is, according to actuaries, is that those people who take better care of themselves will be less likely to file claims—at least any time soon.

Customers who sign up will get a free Fitbit from Hancock—perfect for syncing with the new Numi app. Those who move the most can receive up to 15% of their premiums, as well as schwag like Amazon gift cards and discounted hotel stays. The only caveat is that they must share the data with Hancock. The scheme resembles those used to good result in South Africa, Europe and Australia, among other places.

We’re big fans of exercise, whether it’s something as simple as parking at the far end of the parking lot and walking all the way to the office door, or taking the stairs instead of the elevator. We encourage people to get up and walk around the office, not just because the exercise does them good and stokes their metabolisms, but because it will also increase mental sharpness. And if an insurance company wants to give us gifts and charge less because we’re taking the stairs—we ask, Where shall I put my John Hancock?