Could Life Insurance become the new Health Insurance?

One of the most unexpectedly and delightfully insightful sessions at DOC, the warm and curiously strong gathering curated by Jordan Shlain, MD and John Battelle on the theme of Truth in Medicine, was the one with life insurance giant John Hancock's CEO Brooks Tingle. The long-term alignment of life insurance interests with the interests of the member (they want members to live as long as possible, which means keeping them in good health) contrasts with the distorted incentives of health insurers, which are highly constrained by churn and short timescales, a very American feature (or a bug). The video recording of the session (link in comments) is worth watching, both Jordan and Brooks are witty, but here is one of my favorite soundbites:

"I have many friends that are CEOs of health insurance companies, but they have sort of a conflicted paradigm they’re operating with, really around the time dimension of their relationship with their customers. People switch employers now every four years or switching health plans all the time. I talked to CEOs of health companies and it drives me nuts. One of the CEOs of the Blues the other day said they’re going to stop covering GLP-1s for obesity. That’s so shortsighted, why. [They said], Well, we need to have a 2.1 year payback period, and we’re not seeing it in our business and our industry."

This begs the question, could life insurers in the US transform into health insurers (of sorts)? The fact that reinsurers support this approach is a big signal.