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How 1Life Pulse, a new life insurance option, can complement your client’s health

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Consider a life insurance product that GROWS BY MONITORING AND IMPROVING WELLBEING THROUGH A WEARABLE DEVICE

The word on everyone’s lips this year must surely be health.  How to keep it, protect it and how to ensure that everything, especially finances don’t flounder if you become ill.  This past year has proven that health is a commodity that no one can afford to lose and that health and wealth has become exceedingly synonymous.

Can a life insurance policy help keep you healthy?

From a life insurance perspective, it is pertinent to consider whether a life insurance policy can, not only protect your income, but also assist in keeping you healthy.

An interesting notion since, in a survey this past year, by 1Life with over 5000 respondents, 20% of respondents indicated that getting the right amount of sleep, looking after their mental health (22%) and eating well (19%) are within their top 3 priorities – but that does not necessarily mean that they are achieving this. 

With Covid-19 restrictions we have seen more people becoming more inactive than ever before.  Lockdown basically moved us onto our couches and for some it has been hard to get back into their old exercise regimes, resulting in an increasingly unhealthy lifestyle.

However, by directly linking your life insurance cover to their daily wellbeing decisions in an automatic and dynamic way, that takes social distancing into account, you can have the added incentive of having your life cover grow, as their wellbeing does.  This is what 1Life Pulse, an offering by 1Life aspires to do.

1Life Pulse, a new option for your clients 

1Life Pulse allows consumers to grow their life cover by monitoring and improving their wellbeing through a Samsung Galaxy Active2 wearable device.  Once you have purchased 1Life Pulse, you simply download and activate the VeoSens App by Samsung and LifeQ, whereafter you’ll be given immediate bonus cover of up to R125 000 and you can then start growing your life insurance by up to R500 000, simply by choosing to get a little extra sleep or go for a walk.

“This is a new way of long-term insurance, which we believe will be the way of life cover in the future.  Wellbeing is so much more than a good diet and regular exercise and we are on a quest to help South Africans realise and achieve this. We can’t all be athletes or go to the gym, especially now with social distancing – but we can all do the activities of ‘life’ well,” says Laurence Hillman, CEO of 1Life.  

Incentivising and achieving wellness

According to Elan Lohman, Founder of Sleek Geek Health Revolution: “It is important to remember that you don’t have to be an ‘Ironman’ to achieve wellness. In fact, 52% of consumers consider walking their dog, running errands or doing housework as a successful measure of fitness. “You shouldn’t feel overwhelmed about your wellbeing. Rather, it is about making small changes incrementally to achieve a healthier state of wellbeing longer-term,” says Lohman.

For example, spending less time on social media or watching TV before you go to bed can help you manage your mental health and improve sleep – which is a key element to improving your wellbeing. Similarly, doing some form of light exercise each day and eating a more balanced diet, quitting smoking and slowing down on the ‘bubbles’ can all contribute to a healthier heart and body.

“Today, we are really fortunate to have devices and products on the market to help not only monitor such areas of wellbeing to help keep you on track, but also reward you for your achievements. More than ever, it is this assisted monitoring of health that will go a long way in helping consumers stay on track,” concludes Hillman.

Remote acceptance through 1Life Vantage, a new way of operating 

For financial advisers who work within the life sector of the industry, Pulse can really open up a new way of thinking and by combining Pulse within the 1Life Vantage digital solution, financial advisers can also ensure that they and their clients stay safe during the pandemic. 

Social distancing has become even more important in recent months and Vantage’s remote acceptance ability means that financial advisers can now conclude business remotely. Remote acceptance has become a critical tool for the financial adviser that Vantage provides as part of a suite of standard functionality.

Partnership through innovation

1Life is in a unique position, as a truly multi-distribution insurer and one with a long history of innovation, especially in the digital and direct space, where we are able to use our existing technology that has allowed us to win best direct life insurer for the past ten years and adapt it into our financial adviser space. 

1Life Vantage and 1Life Pulse are testimony to this. We simply ask you to shift your perspective, make your life easier and contact us for more information.  Let us help you focus on the advice aspects and spend your time more efficiently, while we do the heavy lifting.

For more information on 1Life Pulse or 1Life Vantage, simply contact a 1Life broker consultant