How to Get a New Apple Watch Series 3 for Only $25
You'll earn the rest of it by the sweat of your brow.
An Apple Watch series 3 may be this fall's hottest wrist accessory, but at a retail price of $329, it doesn't exactly come cheap. Luckily, you can now get one for the low, low price of $25, just by getting in your daily dose of exercise. It's a win-win for your body in more ways than one.
The deal is the result of a a partnership between Apple and life insurance provider John Hancock. Basically, any John Hancock customer that enrolls in the company's Vitality program is eligible to receive the new watch for a $25 "activation fee," but the catch is that they then have to meet certain health and wellness targets through health screenings or Fitbit health tracking over the next two years. If they maintain a healthy lifestyle, they have a stylish watch and a great bod to show for it. If they don't, then they have to pay the company back for the full retail price of the watch. Personally, I wouldn't mind a little extra motivation to hit the treadmill.
John Hancock senior vice president Brooks Tingle told CNBC that they've previously tried out this program on a smaller scale to general success. A few years back, they handed out Apple watches to members who had purchased policies worth over $2 million under the same terms. According to Tingle, around half achieved their fitness goals, and physical activity among participants increased by 20%, which inspired the company to extend the challenge to the rest of its members.
Though John Hancock is the first insurance company to offer this kind of wealth for wellness deal, it's not likely to be the last. Back in August, Apple held meetings with life insurance company Aetna to discuss a similar plan geared toward bringing the Apple Watch to the company's 23 million members. It's a crafty move; even though Apple Watch has overtaken Fitbit as the top-selling wearable tracker, experts say it still only represents less than 5 percent of overall Apple revenue. By partnering with big insurance companies, the Apple Watch hopes to finally become as ubiquitous as the iPhone.