Principal launched a limited-time program called My Principal Lifestyle to reward clients for healthy lifestyle practices with gift cards. Principal is the second firm in the Life Insurance Monitor coverage group, after John Hancock, to launch a program that incentivizes healthy lifestyles with rewards. While the John Hancock Vitality program offers premium discounts in addition to rewards at various retailers, My Principal Lifestyle solely offers gift cards. In addition, My Principal Lifestyle participants face no risk, whereas John Hancock Vitality clients who are not making healthy lifestyle choices face the risk of increased premiums. This program is available through December 2017 in California, Colorado and Iowa.
Participating clients receive a registration access code to begin tracking physical activity. Clients receive a $10 gift card upon registration, and then for every 20,000 points earned thereafter. Points are accrued through common activities like walking, climbing and biking, as well as by completing functions on the My Principal Lifestyle app, like setting goals, finishing quizzes, completing challenges and learning about Principal. Daily physical activity can earn clients up to 200 points per day, whereas available challenges can range from 200-1000 points per week. Clients track activities by connecting any of the 35 available fitness apps and tracking devices to a downloaded My Principal Lifestyle app.
Screenshot of the My Principle Lifestyle App from Google Play Store
To promote the program, Principal launched a microsite and published an article on the advisor site. The microsite connects clients to a FAQs page with information on who can participate and how the program works, including the number of points clients can earn for different activities.
My Principle Lifestyle Microsite Homepage
The My Principal Lifestyle and John Hancock Vitality programs represent a new trend in life insurance. For additional related posts, see compare wellness programs, discuss Vitality rewards and assess other insurance innovations.