Life insurance provider John Hancock announced on Thursday that it is expanding its Apple Watch program. New and existing members of the provider’s John Hancock Vitality Program can get a 40mm Apple Watch Series 5 for an initial payment of just $25.
The rest of the cost of the Apple Watch is split up into 24 monthly payments, which can be covered by completing walking, running, biking, swimming, or various other exercise goals.
Vitality members must earn at least 500 fitness-related Vitality Points per month over the two year period to avoid owning any actual cash for each monthly installment. Cellular or other more expensive models can be had for an additional fee.
Users connect John Hancock’s Vitality Today app to Apple’s Health app via data sharing. That allows customers to earn Vitality Points for Light, Standard, and Advanced Workouts towards the monthly goal.
Customers can share steps measures by their Apple Watch or iPhone, as well as active calories from the Apple Watch.
The free Apple Watch Series 5 offer will be available starting this fall, everywhere in the U.S., except New York and Puerto Rico. The Vitality program is available as part of select John Hancock life insurance policies.
The life insurance company, owned by Manulife Financial, fist began offering Apple Watches to limited numbers of members back in 2016, opening the program to all Vitality members the following year.
In a recent survey of John Hancock Vitality members with Apple Watch, 84% stated they are motivated to exercise by their Apple Watch and 90% wear an Apple Watch seven days a week. Furthermore, a RAND Europe study of over 400,000 people, the world’s largest behavior tech study based on verified data, concluded that those who participated in Vitality’s Global Apple Watch programs averaged a 34% sustained increase in physical activity compared to participants without an Apple Watch.
