There is no possibility of buying a life insurance policy from John Hancock which is supposed to be one of the largest insurers in the US and hence either a wearable device such as Apple Watch or Fitbit along with a smartphone capable of activating or logging in like an iPhone. Hence there is a firm announcement of the change today with existing policies also adopting the requirement from next year.
Thus a 156-year-old insurer which was owned by Canada’s Manulife marks this being with a major shift for the company unveiling the first life insurance policy which applies a model across all the life coverage.
It is becoming widespread since there is a pioneering by John Hancock’s partner with the Vitality Group establishing it in South Africa and Britain where the insurer converts existing life insurance policies in 2019.
The firm hence has far relieved rewards tempting people opting for the policies where policyholders score premium discounts hitting exercises that could be tracked on wearable devices such as Fitbit or AppleWatch.
Hence the insurance industry says with what law means which can only hike premium that can be shown at an increased risk with having questions of how far the approach could go. Having been said that, it is also to note the fact is that policyholders will be penalised through a sketchy area logged by GPS in their devices. Hence to say the above fact is that there is an activity tracker which could be logged in with strenuous risk factor hike? or cycling or skiing could be dangerously fast? Hence as a fact to note, this could be the beginning of an incredibly slippery slope.