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Manulife Financial Corp
Symbol MFC
Shares Issued 1,939,793,544
Close 2020-10-29 C$ 18.16
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Manulife's John Hancock adds to Apple Watch program

2020-10-29 12:30 ET - News Release

Mr. Brooks Tingle reports

JOHN HANCOCK EXPANDS APPLE WATCH PROGRAM, OFFERS NEW APPLE WATCH SERIES 6 AND APPLE WATCH SE TO VITALITY LIFE INSURANCE CUSTOMERS

Manulife Financial Corp.'s John Hancock has expanded its Apple Watch program to include the recently announced Apple Watch Series 6 and Apple Watch SE for life insurance customers participating in the John Hancock Vitality program, which rewards customers for the everyday things they do to live longer, healthier lives. Beginning this fall, John Hancock Vitality Plus members can earn an Apple Watch Series 6 or Apple Watch SE for as little as $25 plus tax by exercising regularly.

"While John Hancock Vitality offers something for everyone, it can be especially impactful and beneficial for people in higher-risk health categories or those who are concerned about their personal health -- something that is top of mind for many right now," said Brooks Tingle, president and chief executive officer of John Hancock Insurance. "Consumers are more mindful of their mortality, and we've seen an increase in the demand for life insurance. In addition, people are more aware of their baseline health. That's why we believe we have the right solutions for this time in history -- life insurance that provides essential protection in the event of death, combined with the latest in personal health technology, including Apple Watch, to help our customers live longer, healthier lives."

To date, the Apple Watch has been an extremely popular and effective component of the John Hancock Vitality program, with 85 per cent of all Apple Watch program members reporting their Apple Watch motivates them to exercise. In a study of 400,000 people in the United States, the United Kingdom and South Africa, RAND Europe concluded that those who wore an Apple Watch and participated in the Vitality Active Rewards benefit program averaged a 34-per-cent sustained increase in physical activity compared with participants without an Apple Watch. That is the equivalent of 4.8 extra days of activity per month.

Beyond encouraging physical activity, the latest Apple Watches will provide John Hancock Vitality customers with additional insights into their health and wellness. The Apple Watch Series 6 features a new blood oxygen app, an ECG app and always-on retina display. Both Apple Watch Series 6 and Apple Watch SE feature high-heart-rate/low-heart-rate notifications, irregular heart rhythm notifications and handwashing detection to promote good hand hygiene.

Vitality customers who take part in the Apple Watch program make an initial payment of $25 plus tax. The remaining balance of their Apple Watch is divided into monthly payments over the course of two years. Monthly payments can be reduced to as little as $0 with regular exercise.

About Manulife Financial Corp.

John Hancock is a unit of Manulife Financial, a leading international financial service group that helps people make their decisions easier and lives better. The company operates primarily as John Hancock in the United States and as Manulife globally, including Canada, Asia and Europe. The company provides financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. Assets under management and administration by Manulife and its subsidiaries amounted to $1.2-trillion ($900-billion (U.S.)) as of June 30, 2020.

One of the largest life insurers in the United States, John Hancock supports more than 10 million Americans with a broad range of financial products, including: life insurance; annuities; investments; 401(k) plans; and education savings plans.

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