For people living with diabetes, the condition is a part of their everyday life and one that impacts many of their decisions, from balancing what they eat to taking care of their health. One area that might not be top of mind for people living with diabetes is life insurance. That’s because many people with diabetes believe they won’t be able to get life insurance if they have the condition.
Research shows that nearly 50 percent of people with diabetes are worried they will not qualify for a life insurance policy and another 45 percent assume it’s too expensive, according to a recent survey commissioned by John Hancock.1 And it’s even higher among younger people, with 68 percent of people ages 25-34 worried they won’t qualify.
Dispelling the common myth
According to the Centers for Disease Control and Prevention (CDC), 9.4 percent of the U.S. population has diabetes.2 This equates to roughly 30 million people. In addition, another 33.9 percent (84 million) has pre-diabetes. While people with diabetes recognize the many benefits life insurance can offer – like providing for your family, covering final expenses, and offering peace of mind – there’s a lot of confusion about the topic and a concern that having diabetes will bar them from getting life insurance.
In reality, more than 90 percent of all the people with diabetes who sought life insurance in the past 18 months qualified with John Hancock. In addition, 88 percent of those applicants received a standard or better premium quote.
A new kind of life insurance
If you are living with diabetes and you haven’t thought about life insurance recently, it’s worth taking a look. John Hancock life insurance with Vitality rewards customers for the smarter choices they make every day to improve their health – exercising regularly, eating well and visiting the doctor – things many people, including those with diabetes, are already encouraged to do. Policyholders can earn valuable rewards, including an Apple Watch® Series 3 for $25, plus tax, by exercising regularly, 3 $600 in annual savings on healthy food purchases, 4 and savings of up to 15 percent on their annual life insurance premiums. It doesn’t require completely changing your habits overnight – small, healthy choices can make a big difference over time.
Getting your questions answered
If you have diabetes and you are without a life insurance policy, you probably have questions. The good news is you’re not alone. Only one third of those with diabetes report they consider themselves knowledgeable about life insurance. The most common questions among those who don’t include:
- How much life insurance will I need?
- Will I need a medical exam to get life insurance?
- Can I afford a life insurance policy?
To help you find the answers to these questions, you can speak with one of John Hancock’s Coverage Coaches at 844-235-3002, or visit www.JohnHancockInsurance.com/ADA. Life insurance is an important way to help protect your loved ones, and now your policy can do more by rewarding you for healthy living.
1. This nationwide survey was conducted online by Qualtrics on behalf of John Hancock.
2. CDC. National Diabetes Statistical Report, 2107. CDC. National Diabetes Statistical Report, 2107. https://www.cdc.gov/diabetes/pdfs/data/statistics/national-diabetes-statistics-report.pdf
3. You can order Apple Watch Series 3 (GPS) for an initial payment of $25 plus tax and over the next two years, monthly payments are based on the number of workouts completed. Upgrade fees apply if you choose Apple Watch Series 3 (GPS + Cellular), certain bands and case materials. A Retail Installment Agreement with the Vitality Group will need to be signed electronically at checkout. Apple Watch Series 3 (GPS) requires an iPhone 5s or later with iOS 11 or later. Apple Watch Series 3 (GPS + Cellular) requires an iPhone 6 or later with iOS 11 or later.
Apple Watch Series 3 (GPS + Cellular) and iPhone service provider must be the same. Cellular is not available with all service providers. Roaming is not available outside your carrier network coverage area. Wireless service plan required for cellular service. Contact your service provider for more details. Check www.apple.com/watch/cellular for participating wireless carriers and eligibility.
Apple is not a participant in or sponsor of this promotion. Apple Watch program is not available in New York.
4. HealthyFood savings are based on qualifying purchases and may vary based on the terms of the John Hancock Vitality program.
Insurance policies and/or associated riders and features may not be available in all states.
Vitality is the provider of the John Hancock Vitality Program in connection with policies issued by John Hancock. John Hancock Vitality Program rewards and discounts are only available to the person insured under the eligible life insurance policy. Rewards and discounts are subject to change and are not guaranteed to remain the same for the life of the policy.
Premium savings are in comparison to the same John Hancock policy without the Vitality program. Annual premium savings will vary based upon policy type, the terms of the policy, and the level of the insured’s participation in the John Hancock Vitality Program.
Insurance products are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA 02210 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY MLINY101717101