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Simple Term with Vitality Highlights
Vitality program (Also referred to as the Healthy Engagement Benefit)
The Vitality Group, Inc. is the administrator of the John Hancock Vitality Program: • The Healthy Engagement Benefit determines the total premium refund received each year based upon the status achieved by the life insured, as shown: Bronze: 0%, Silver: 5%, Gold: 10%, Platinum: 15% • There are four Vitality Status levels; here are the point caps for each level: – Bronze 0 points – Silver 3,500 points – Gold 7,000 points – Platinum 10,000 points The insured can earn a maximum of 18,000 points annually by engaging in the program • The achievement of status is dependent upon the life insured meeting the total number of points required for each status • The discounts and rewards will be provided only to the life insured • The Vitality program will cease at the end of the term period Provides a “living benefit” if the insured is certified to be terminally ill with a life expectancy of one year or less. This provision allows the policy owner to receive 50% of the eligible death benefit. • Available to all issue ages • This benefit may be added at any time, regardless of current health, provided that the following conditions are met: – There must be a least one year remaining in the benefit period – The consent of the irrevocable beneficiary (if any) is required – The consent of the assignee (if any) is required • The death benefit is reduced by the rider benefit amount plus one year’s interest at current loan rates on the benefit paid, and an administrative- expense charge • Benefits may be taxable under current tax law. Policy owners should consult their personal tax advisors regarding the tax implications of benefits received under the accelerated benefit • There is no charge for this rider
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