John Hancock announced it is offering the newest Apple Watch models to eligible life insurance customers who participate in its Vitality Program, which rewards customers for engaging in activities that promote a healthy lifestyle.

Vitality PLUS customers who take part in the Apple Watch program are required to make an initial payment of $25 plus tax and pay the remaining balance monthly over two years, but through the new offering, monthly fees can be lowered to as much as $0 with regular activity. 

The Vitality Points earned toward Apple Watch can also result in additional rewards and discounts, including savings on life insurance premiums.

Additionally, customers can choose an Apple Watch Ultra 2 for an additional upgrade fee. 

Apple Watches offer a range of health and fitness features, such as activity metrics, sleep tracking and insights into overnight health metrics, heart health notifications, safety offerings like Emergency SOS and fall detection. 

The Apple Watch Series 10 features sleep apnea notifications, faster charging and new health-and-fitness insights in watchOS 11 with the Vitals app and training load. 

"We're always excited to add the latest in technology, like Apple Watch Series 10, to the array of cutting-edge health tools we offer our Vitality members to help them take control of their health and wellness," Lindsay Hanson, chief marketing officer and global head of behavioral insurance strategy and delivery, John Hancock, said in a statement. 

"Apple Watch Series 10 delivers actionable health and fitness insights that are an important component of the John Hancock Vitality Program which combines education, resources, screening tests, and more so that our customers can create personalized approaches that help increase not just their lifespan, but also their healthspan."

THE LARGER TREND

Other companies that reward people for engaging in healthier lifestyles include UnitedHealthcare, which launched a rewards program in 2023 that leverages wearables to pay up to $1,000 per year to eligible members who complete health goals. 

Under UnitedHealthcare Rewards, members who are active for 15 minutes or more a day, track their sleep for 14 nights and walk 5,000 steps or more per day receive compensation through a prepaid debit card or with payment in a health savings account. 

In 2018, UnitedHealthcare members enrolled in the insurer's incentive-based "Motion" program could track their daily activity using their personal Apple Watch, or one purchased and earned through the program, to receive rewards.

Via the employer-sponsored program, eligible participants could use a fitness wearable to record their daily steps and receive monetary rewards for reaching certain daily milestones, such as logging 10,000 daily steps or 3,000 steps within 30 minutes.

An analysis released in September by Deloitte Center for Health Solutions' revealed that businesses can achieve growth and value by investing in more affordable, equitable and effective health solutions. 

Data from the analysis showed that healthy employees are more likely to show up for work consistently and perform better. The upside for businesses is that it tends to increase productivity and lower costs associated with absenteeism and healthcare needs.