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Major life insurer says it will require customers to wear health trackers
NBC "News" ^ | September 20, 2018 | by Reuters

Posted on 09/20/2018 12:34:06 PM PDT by Oldeconomybuyer

John Hancock, one of the oldest and largest North American life insurers, will stop underwriting traditional life insurance and instead sell only interactive policies that track fitness and health data through wearable devices and smartphones, the company said on Wednesday.

The move by the 156-year-old insurer, owned by Canada's Manulife Financial Corp, marks a major shift for the company, which unveiled its first interactive life insurance policy in 2015. It is now applying the model across all of its life coverage.

Interactive life insurance, pioneered by John Hancock's partner the Vitality Group, is already well-established in South Africa and Britain and is becoming more widespread in the United States.

Policyholders score premium discounts for hitting exercise targets tracked on wearable devices such as a Fitbit or Apple Watch and get gift cards for retail stores and other perks by logging their workouts and healthy food purchases in an app.

In theory, everybody wins, as policyholders are incentivized to adopt healthy habits and insurance companies collect more premiums and pay less in claims if customers live longer.

(Excerpt) Read more at nbcnews.com ...


TOPICS: Business/Economy; Constitution/Conservatism; Culture/Society; News/Current Events
KEYWORDS: applewatch; canada; fitbit; insurance; johnhancock; manulife; privacy; vitalitygroup
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To: Oldeconomybuyer

Oh Lordy - they cover our long term care insurance - guess we better get in line.....


21 posted on 09/20/2018 12:43:46 PM PDT by Intolerant in NJ
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To: Oldeconomybuyer

Corporate puts public on short leash? Is that the headline here?

Will our diet be soylent green?


22 posted on 09/20/2018 12:45:30 PM PDT by Migraine (<)
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To: kaehurowing

So close.


23 posted on 09/20/2018 12:47:45 PM PDT by Phillyred
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To: kaehurowing

That’s what I was thinking.

Why don’t they just stamp 666 on their forehead and make a deal with the devil.


24 posted on 09/20/2018 12:48:01 PM PDT by DannyTN
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To: Oldeconomybuyer

Everybody wins?


25 posted on 09/20/2018 12:48:16 PM PDT by Hattie
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To: Afterguard

Model 666


26 posted on 09/20/2018 12:48:20 PM PDT by ptsal
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To: Oldeconomybuyer

Omg, I have got to get me some life insurance! I’m wasting a healthy lifestyle not saving $!


27 posted on 09/20/2018 12:49:05 PM PDT by Yaelle
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To: Oldeconomybuyer
Here's what I propose. Let's have ‘tracker’ devices for John Hancock and all insurance companies. On a daily, hourly by hourly basis the payroll of the company, all CEO and management compensation, all vacation time, travel time and expense, and hours worked for all decision-making employees / management will be monitored and reported to all who hold policies from the company (all will have continuous access to real-time data).

There will be ‘goals’ for financial solvency of these companies, costs to the consumers, and the percentages of total costs that management salaries, bonuses, benefits, and vacation time represent as a function of revenues. It will be a ‘fit bit’ for executives, and if they fail to reach specific milestones - determined specifically and exclusively by policy holders, they will receive commensurately less compensation and will accumulate demerits. After a certain number of demerits they can be dismissed without further cause - with no severance over and above what the average of all non-management employees are given as severance packages.

28 posted on 09/20/2018 12:49:14 PM PDT by neverevergiveup
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To: Rebelbase

Policy revocation if the GPS detects you inside a McDonalds?


Now see, that’s not fair! I go in there to use the bathrooms sometimes!


29 posted on 09/20/2018 12:49:58 PM PDT by Yaelle
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To: Oldeconomybuyer

Mark of The Beast


30 posted on 09/20/2018 12:50:28 PM PDT by a fool in paradise
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To: Afterguard

Headline should be Bankrupt Former Health Insurer Requires....


31 posted on 09/20/2018 12:50:40 PM PDT by frank ballenger (.End noncitizen & illegals voting & leftist media news censorship or we're finished.)
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To: neverevergiveup

I’d like to track the politicians in Sacramento like this! If they want our votes, they need to spend 40% or less time drunk or having sex with lobbyists! I think that is fair, but they’d never agree to such a whopping cutback.


32 posted on 09/20/2018 12:51:20 PM PDT by Yaelle
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To: buckalfa
Part of me likes the responsibility for healthy life style being thrust upon the insurance consumer, but I hate the invasion of privacy.

Well the two are more or less chained together at the wrists and ankles.


33 posted on 09/20/2018 12:52:15 PM PDT by Buckeye McFrog
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To: TexasGator

Exactly, the article itself has a correction - Users can opt in.

There are many insurers now in the US that have opt-ins like this. I invented one !


34 posted on 09/20/2018 12:52:48 PM PDT by Celerity
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To: DannyTN

Walter Cronkite would’ve proudly handed you over to the Devil for his one world government wet dream.


35 posted on 09/20/2018 12:53:12 PM PDT by a fool in paradise
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To: Buckeye McFrog
Ironically named after a man who risked death to take a stand for PERSONAL FREEDOM....

Also, this is the company that when I was a kid in the 60's, one could write them to get a free pocket Constitution.


36 posted on 09/20/2018 12:53:36 PM PDT by C210N (Republicans sign check fronts; 'Rats sign check backs.)
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To: Oldeconomybuyer

Policies in place...

CHECK!


37 posted on 09/20/2018 12:53:43 PM PDT by DoughtyOne (01/26/18 DJIA 30 stocks $26,616.71 48.794% > open 11/07/16 $215.71 from 50% increase in 1.2183 yrs)
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To: Dr. Sivana

I would put one of these on my dog.
Gets a balanced meal, gets lots of exercise, sleeps well and doesn’t go into “banned” establishments.

woof


38 posted on 09/20/2018 12:54:25 PM PDT by Texas resident (Democrats=Enemy of People of The United States of America)
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To: Oldeconomybuyer

Nope, not for me.


39 posted on 09/20/2018 12:54:29 PM PDT by taxcontrol
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To: brownsfan

I know just what you mean. All the chip implants under skin, shadow banning, Google censorship, ID theft, tracking of beliefs,Samsung watching through Smart TV front camera,etc is trending downward fast.


40 posted on 09/20/2018 12:54:33 PM PDT by frank ballenger (.End noncitizen & illegals voting & leftist media news censorship or we're finished.)
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