John Hancock and its parent company Manulife have announced a five-year, multimillion-dollar research collaboration with the Massachusetts Institute of Technology (MIT) AgeLab. The partnership aims to advance longevity innovation through research, thought leadership, and workshops, providing insights for businesses, policymakers, and individuals.
The World Economic Forum (WEF) projects that by 2050, the global population over 60 will double to 2.1 billion. Despite longer lifespans, many individuals spend significant time in poor health, highlighting disparities in health and wealth. Addressing this requires understanding the intersection of health and financial stability, particularly in preventive health and retirement planning.
Brooks Tingle, president and CEO of John Hancock, emphasized the importance of this research, stating, "As we continue to see people live longer lives, it is crucial that we gain new insight into how we can make longer lives synonymous with better and healthier lives." He highlighted the company's commitment to collaborating with leaders like MIT AgeLab to provide critical insights that can improve health and wealth outcomes globally.
Over the next five years, the collaboration will focus on developing a longevity preparedness index to measure how prepared Americans are to live longer, healthier lives. The index will provide data-driven insights on financial planning, health and wellness, work and retirement transitions, housing choices, end-of-life planning, and technological advancements. The first annual index research will begin in spring 2024 and will eventually include Canada.
Dr. Joseph Coughlin, founder and director of the MIT AgeLab, will lead the project. The collaboration will also include workshops on longevity, generational dynamics, new technology, and behavioral insurance. Manulife/John Hancock has joined the MIT AgeLab PLAN, a consortium exploring how to better prepare people for longer lives.
This initiative supports Manulife's Impact Agenda, promoting sustained health and well-being, and builds on John Hancock's "Longer. Healthier. Better." Symposium. Manulife also supports the WEF's Longevity Economy Principles and has partnered with UpLink to invest in longevity innovation.
