As a Manulife Vitality member, you can get Apple Watch from just $17 and fund the balance by tracking activities to earn Vitality Points™.*
As a Manulife Vitality program member, the more Vitality Points you accumulate, the more you’ll save and the greater the rewards from retailers that include:
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Manulife Vitality is a program that can reward you for healthy living.
Manulife Vitality – a life insurance program that actually rewards people for leading a healthy, balanced lifestyle.
Vitality program status is simply based on the number of Vitality points you earn each year which results in a tiered system; Bronze, Silver, Gold and Platinum. This status is used to determine a member’s eligibility for rewards and to calculate their annual cost of insurance. By being active, getting regular health screenings and even reading online health related materials, earns more Vitality Points when you track them using the easy online tools provided to members or the Manulife Vitality mobile app. Intrigued yet?
How Vitality premiums work
Manulife has a series of multipliers (denoted by various precious metals, Gold, Bronze, etc) for your premium. You earn each multiplier by completing predefined tasks (summary of tasks is below). So lets say the multiplyer for Silver is 0.95. Each task has predefined points, you qualify for each multiplier by completing tasks. For example, Silver requires 3500. Complete tasks to accumulate 3500 points in one year and your premium will be subject to the silver multiplier – so your premiums X .95 (or, you received about a 5% discount for the year.).
By reaching and maintaining platinum level you receive substantially reduced life insurance premiums and can maintain those lower premiums for the duration of the term. Doing so would put you to the lower limit of the premiums.
So what happens if you later decide to do nothing – you don’t participate in the program? Manulife will over time apply a multiplier that will bring your premiums back in line with where they should be. This would put you at the upper limit of the premiums.
The good news is that if you do nothing at all, the total premiums you would have paid over the term would be the same as if you had not participated in the program. So worst case is the same as do nothing. The upside is that if you do in fact participate, you are in control of reducing your premiums up to Manulife’s lower limit.
You will automatically receive the discounted ‘Gold’ level premiums in your first year since you haven’t had any time to accumulate points. Subsequent years are based on tracking of your points from the prior year.