John Hancock Insurance has launched LifeTrack, a policy management application intended to help clients and advisors ensure life insurance policies stay on track to meet their intended insurance goals.
LifeTrack is available for free on John Hancock's Protection UL '15 and Protection UL with Vitality policies and it will be rolled out to additional life insurance products. The LifeTrack application offers personalized communications so that customers understand the amount they need to pay to keep pace with their insurance objective over time, the insurer said.
"LifeTrack allows us to take a much more personalized approach to policy management, giving policyholders the confidence that they will meet their unique goals and objectives," said Michael Doughty, president, John Hancock Insurance. "And for added peace of mind, policyholders receive an easy to understand LifeTrack Annual Report that summarizes how their policy is tracking relative to their goals."
LifeTrack is integrated with John Hancock’s Vitality product, which offers policyholders the opportunity to lower their premiums and earn rewards and discounts for living healthy. Vitality program participants accumulate points when they complete health-related activities, such as an annual health screening, walking or running an extra mile. The points earned over the year determine their program status level and their premium savings.
"Coupled with the John Hancock Vitality Program, LifeTrack can act as a powerful motivator by reminding clients that by taking a few more steps or engaging in other healthy behaviors they will save money on their premiums and live a longer, healthier life," Doughty said.
