Gen Xers and Baby Boomers Need to Improve Physical, Financial Health to Feel More Prepared for the Future Says John Hancock Survey

BOSTON, Sept. 9, 2015 /PRNewswire/ -- Gen Xers and Boomers, the two generations closest to retirement, don't feel particularly prepared for their financial futures according to a survey released today by John Hancock. They view both health and wealth as critical aspects to their overall wellbeing, and believe they could make improvements in each area.

While respondents rank "making sure you're financially secure" as one of the most important aspects in life (47 percent) - along with "being healthy" (54 percent), "being happy with where you are in life" (55 percent), and "having close relationships with family and friends" (55 percent) - only slightly more than half (53 percent) say they feel prepared for their financial futures, with only about one in 10 (11 percent) saying they feel very prepared.  Nearly all (94 percent) say they could be living healthier lives.

"More than ever, Americans are at the crossroads of health and wealth and are looking for ways to improve both areas of their life," said Michael Doughty, president, John Hancock Insurance. "John Hancock strives to help Americans with their financial needs, and planning for the future, and recently has focused on integrating healthy living into our insurance products in an effort to help consumers with their most important needs."

Survey respondents are happy to put in some work to make improvements and report that they have made positive changes in the past year:

• 58 percent spent more quality time with friends and family
• 58 percent ate healthier
• 47 percent reduced monthly bills
• 44 percent paid off debt
• 30 percent made a budget

When looking to financial matters for the future, a significant majority of respondents express that everyone their age should have life insurance, as reported by 86 percent of Gen X respondents and 81 percent of Baby Boomers. Survey respondents consider life insurance to be more of an investment (56 percent) than a cost (44 percent). When asked to identify the biggest benefit of having life insurance, Baby Boomers are more likely to view it as a way to cover one's final expenses (25 percent vs. 16 percent), whereas Gen Xers are more likely to pinpoint the family benefits (47 percent vs. 39 percent).

Although 55 percent of respondents indicate that they don't think traditional life insurance would help them live healthier, 88 percent report that having life insurance could help them feel more confident about their family's future, 73 percent agree it would help them feel more confident about their own future, and 65 percent say it would reduce their overall stress levels.

"Consumers understand the value of owning life insurance, but still don't take steps to get the coverage they need," said Doughty.  "That's why we developed a new kind of life insurance this year, called John Hancock Vitality, that not only inspires people to live healthier, which we know that most people are striving for, but it also rewards them for doing so."

John Hancock's life insurance with Vitality, introduced in April 2015, gives consumers the opportunity to significantly save on their premiums and earn valuable rewards and discounts—simply by living a healthy life. The program, which integrates with personalized health technology, including wearables like Fitbit®, offers participants rewards and discounts from major brands such as Amazon, Hyatt and REI, just for walking, having regular check-ups, and engaging in other everyday healthy activities such as getting a flu shot or health screening.

According to the survey, conducted just prior to the introduction of the John Hancock Vitality solution, 90 percent of respondents believed life insurance policyholders should be rewarded for making healthy choices, and a large majority (84 percent) said they would be more likely to purchase that kind of product than a traditional life insurance policy.

For more information about John Hancock life insurance with Vitality, visit JHRewardsLife.com.

Survey Methodology 
This nationwide survey was conducted online by KRC Research on behalf of John Hancock. Interviews were completed in February 2015 among 2,034 adults ages 18 – 69. The data were weighted by gender, geographic region, race, income and education to accurately represent the population.

About John Hancock Financial and Manulife 
John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife in Canada and Asia, and primarily as John Hancock in the United States, our group of companies offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners.  Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSA, and under '945' on the SEHK. Manulife can be found on the Internet at Manulife.com.

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.

About Vitality
The Vitality Group is a member of Discovery Ltd., offering an incentive-based wellness program to employers as part of their benefits program. With a foundation based on actuarial science and behavioral economic theory, Vitality encourages changes in lifestyle that reduce health care costs, both in the short run and long term, by rewarding members for addressing their specific health issues. Vitality wellness programs serve companies in a wide range of sizes and industries, improving individuals' health and wellbeing as well as employers' bottom lines. Vitality brings a global perspective through successful partnerships with large employers and best-in- class insurers around the world, in countries including the United States, United Kingdom, South Africa, China and more recently Singapore and Australia.

Insurance products are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA 02117 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595.

Vitality is the provider of the John Hancock Vitality Program in connection with policies issued by John Hancock.

Insurance policies and/or associated riders and features may not be available in all states.  The John Hancock Vitality Program is available with select John Hancock policies.  Consumers should consult their financial representative as to product availability and how premium savings may affect the policy they purchase.

John Hancock Vitality Program rewards and discounts are only available to the person insured under the eligible life insurance policy.

Rewards may vary based on the type of insurance policy purchased for the insured (Vitality Program Member), the ownership and inforce status of the insurance policy, and the state where the insurance policy was issued.
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SOURCE John Hancock Financial

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