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Working out has some obvious benefits that we all appreciate: a healthy body and mind, an active lifestyle and maybe even a slimmer build. But what if you could earn some pretty decent savings throughout the year and get one of the coolest tech devices in the world for free just by being active? Got your attention now?
That’s basically what John Hancock Life Insurance is promoting with a major new health initiative that can not only make customers more fit, but give them an opportunity to earn rewards, up to $600 in savings and a steeply discounted Apple Watch.
John Hancock’s Vitality program is billed as a “new kind of life insurance [that] helps secure your family’s financial future, while offering valuable savings and rewards for the every day things you do to stay healthy.”
Here’s the deal: You can earn an Apple Watch Series 3 with an initial payment of as little as $25 by exercising regularly. If you stop working out, you’ll have to pay for the Apple Watch in installments, based on the number of times you (don’t) exercise. The Series 3 pricing starts at $299 and can climb to more than triple that figure.
John Hancock is also offering members the choice of a Fitbit device, according to the promotion.
Policyholders can also earn up to 15% off on premiums and save up to $600 annually on healthy foods for exercising regularly. Additionally, the insurer is offering huge discounts and rewards through major retailers such as Amazon, iTunes, Royal Caribbean, Hyatt and more.
Insurance companies are giving major incentives to their customers as a way to reduce corporate health care costs. Money expert Clark Howard says the trend has gotten red-hot since Target rolled out a program two years ago to give its employees Fitbits.
Now, Apple, which debuted its watch platform in 2015, wants in on the Fitbit market. Apple sees health and fitness as a clear path forward for its wearables.
The tech giant has been looking to build partnerships with insurers. The Cupertino, California-based company recently met with Aetna to discuss an Apple Watch deal for the insurer’s 23 million members, according to CNBC.
Apple has not been shy about promoting its pricey watch as an active health and fitness tracker. The Series 3 Apple Watch features Gym Connect, which allows users to sync their phones to cardio machines found in fitness centers. The gadget also comes with smart activity coaching, a precision heart rate monitor and improved music interface.
All those features make the Apple Watch the No. 1 watch in the world, according to CEO Tim Cook.
John Hancock is not the only entity that rewards its customers for an active lifestyle:
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