The John Hancock Vitality Program is a Winner in My Book

Saving money makes me happy.

But saving money while doing something I love to do makes me really happy. And I love to stay active, I love to compete. Whether it’s going to the gym for a power workout, riding my mountain bike on the glorious North Carolina trails, or simply mowing my lawn—if it keeps me fit, I enjoy it. That’s why when I first heard about the John Hancock Vitality program, I was intrigued. I mean, I need life insurance anyway, right? Well, Vitality reduces my premiums if I stay fit and healthy. What’s not to like?

The Vitality program is all about incentives. The reduction in premiums is based on points you receive for staying active, eating healthy, and basically living a healthy lifestyle. You can also use the points to earn discounts on various products. For example, as a policy holder, I could now purchase an Apple Watch 3 for only $25.The more active I get, the more points I receive—I might be able to get that watch for free.

I like Vitality as a policy holder, but I’m also impressed by it as a businessman. I mean, it’s human nature to work for rewards. Parents promise kids a new toy for good behavior. As a coach, I remind runners that if they finish in a certain time, they’ll qualify for the championships. Offering rewards works. So for a life insurance company to reward policy holders for living healthier (something not everyone feels motivated to do) is an effective way to help policy holders live longer—that’s good for the company’s bottom line, and it’s good for the policy holders, obviously. It’s a real win-win.

John Hancock is not the only company to use incentives to encourage participants to take better care of themselves. Allstate has its Safe Driver Program, for example. In general, using incentives and other time-tested means of helping people do the right thing is a good business move for an insurance company—and it’s the right thing to do.

What lessons can you take from the John Hancock’s Vitality program? Are there ways you can support your own bottom line while simultaneously helping other people? Are there ways you can offer your customers or clients the opportunity to do something they love—or, even better, multiple things they love to do at the same time?

In life, we often have to make choices. Sometimes those choices seem to be uncomfortable either/or propositions, but it doesn’t have to be that way. You can look for ways to do multiple good things at the same time.

And I can enjoy the results, like when I get to save money and stay fit at once, with the John Hancock Vitality program.