apple watch

How your Apple Watch can save you money on life insurance

Apple Watch, Fitbit and other wearables can save you money on your insurance premiums.

With the upcoming release of the Apple Watch, it got us here at thinking, "Is there a way that this wearables fad can save our users money?" And not surprisingly, these devices might be able to help you cut your health and life insurance premiums by a significant amount.

Wearable technology and insurance allows insurers to track your health data, taking the guess work out of underwriting and providing them with up to date information about your:

  • Dietary habits
  • Fitness
  • Heart rate.

Keep reading to find out why this information can save you big dollars.

Find out more about how you can save on insurance with the help of wearables

Insurance Wellness programs

AIA VitalityAIA Vitality

What is AIA Vitality?

AIA Vitality is a program that encourages AIA members to live fitter and healthier lifestyles. AIA Vitality, launched in November 2013, offers its members the knowledge, motivation and tools to improve their health. Members are rewarded with discounts from commercial partners as they earn Vitality points as their health improves. Additionally, participation in the program can result in discounts on life insurance premiums. Currently, AIA offers savings when you submit workout data from:

  • Polar. Save 35% on the RRP of a Polar Heart Rate Monitor or accessory when you buy it through the AIA Vitality site. Additionally, if you upload your workout data, you can earn up to 100 Vitality Points.
  • Fitbug. Save 30% on the RRP of you Fitbug and earn up to 100 Vitality Points when you submit your workout data.
  • Fitbit. Save 25% on the RRP of you Fitbit and upload your workout data to earn up to 100 Vitality Points.

Other devices you can earn points up to 100 Vitality Points include: Nike +, Garmin, miCoach and Suunto.

You can also download the AIA Vitality app to help track your progress. The app allows you to log your food, workouts, calorie budget and monitor your BMI and weight.

What do I get as a member?
AIA's Partners Benefits
Allan Carr’s Easy Way to Stop Smoking Courses 30% discount
Anytime Fitness $75 cash back per quarter
Aussie Farmers Direct Up to 30% off
Dietician Association of Australia 30% off your initial consultation
Endota Spa Up to 35% off
Fernwood 15% off
Fitbit 25% discount
Fitbug Up to 30% off
Hoyts Movie tickets priced from $5-12.50
Myer Members receive a $50 Myer gift card once they have earned 5000 Vitality points
Polar Fitness Devices 35% discount
Qantas Up to a 35% discount off domestic and international fares
Step Into Life 40% discount
Virgin Active 25% off
Weight Watchers 30% discount
AIA Premium Discounts

Membership of the AIA Vitality allows you to get discounts on your insurance premiums. You’ll be eligible an introductory discount of up to 7.5% off your first years' life, TPD or trauma premiums. As you progress, the discount for each subsequent year will vary depending on the status of your Vitality membership.

In order attain the top discount, which is capped at 20%, you must reach Platinum status.

There is an added cash back bonus, which is assessed every five years. This bonus may mean you are eligible to receive a refund of 2-10% of your annual premium.

Want to know more about the AIA Vitality Program?

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Asteron Life Plus Health Rewardsasteron-logo

What is Asteron Life Plus Health Rewards?

The Asteron Life Plus program can help you get discounts on your insurance premiums by tracking your health and wellbeing. Ways the Asteron Life Plus program tracks your progress include:

  • Blood pressure
  • Blood tests
  • Body mass index (BMI)
  • Cholesterol checks.

There are three simple steps in the Asteron Life Plus program that can help you take command of your personal health.

Step 1 – Q Score

Your Q Score measures where your health sits in an imaginary queue of 100 people. The closer to the front of the queue, the better your health. There are four sections your Q Score can fall into:

Optimum Zone

Applicants display most of the following:

  • Blood pressure, cholesterol blood glucose all very healthy.
  • Low to moderate alcohol (or non-drinker)
  • Most or all of the following:
  • Non-smoker
  • Stress levels are well managed
  • Very active
  • Very healthy body weight
  • Very healthy diet
Healthy Zone

Applicants display most of the following:

  • Balanced diet
  • Blood pressure, cholesterol blood glucose under control.
  • Healthy weight
  • Low to moderate alcohol (or non-drinker)
  • Non-smoker
  • Regular exercise
  • Stress levels generally managed
Transformation Zone

Applicants display most of the following:

  • A little stressed
  • Blood pressure, cholesterol or blood glucose a little high
  • Carrying a little too much weight
  • Could do with being more active
  • Drink a little too much
  • Smoker
  • Some weak areas of diet
Risk Zone

Applicants display one or more of the following:

  • High blood glucose
  • High blood pressure
  • High cholesterol
  • Very overweight

The Asteron Life Plus program will provide you with advice and the tools to help you improve and take control of your health.

Step 2 – Set goals

A health coach will work with you to set achievable health goals. These goals are determined by your Q Score and the targets give you a goal to work towards such as cutting down on drinking, quitting smoking or losing weight. Your coach will provide you with personalised advice to help you optimise your health.

Step 3 – Monitor progress

The Asteron Life Plus program can provide you with the tools to help you track and monitor your progress. Some of the areas tracked include:

  • Blood pressure
  • BMI
  • Cholesterol
  • Diet
  • Exercise
  • Q Score
  • Weight.
Asteron Life Plus Health Rewards Discount

Once you have completed the program, you are eligible to receive a maximum discount of 20% off your insurance premiums.

Find out more about The Asteron Life Plus Program

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Bupa Living Well

Living Well is a feature on some of the Bupa Extras plans and gives you additional benefits you can use towards the cost of health-related programs. The proviso is the these programs must be part of a health management strategy, which is addressing a specific health concern, and is recommended by a referring healthcare professional.

What types of things can I claim?

You may be able to claim for part of the costs of your:

  • Children’s swimming programs
  • Gym memberships
  • Nicotine replacement therapy
  • Pilates
  • Weight management programs
  • Yoga.
Bupa App

Bupa have an app available through the App Store and Google play that you can download for free. This app can help you:

  • Access self-service functions
  • Contact Bupa
  • Find a Bupa store front
  • Get a quote
  • Make an extras claim
  • Order a new membership card
  • Search nearby locations for Members First healthcare providers
  • Update your details
  • View your current cover.

What kind of member benefits can I get?

Bupa's Partners Benefits
AMF Bowling, Kingpin Bowling and M9 Laser Skirmish. 25% off
Australian NaturalCare Receive up to 70% off vitamins when you purchase online
Blackmores 30% off when you purchase any Blackmores product online
Bupa Optical 20% discount off the usual retail price of the range of sunglasses displayed
Dreamworld, WhiteWater World, SkyPoint and SkyPoint Climb 15% off tickets when you purchase online
EFM Health Cubs 15% off monthly membership
Event Cinemas 25% off when you buy your movie tickets online
FitnessFirst Save 5% on the current standard 12 month or flexible month to month membership fee
Goodlife Health Clubs Get a 20% discount on a 12 month membership fee.
Guy Leech Fitness Up to 20% off selected Guy Leech products.
Hoyts Cinema 25% off when you buy your movie tickets online
Illawarra Fly Treetop Adventures and Otway Fly Treetop Adventures 20% discount on the admission price
InEssence aroma therapy 25% off all full priced online purchases and free shipping for all orders over $150.
Movie World, Sea World and Wet'n'Wild 10% discount on admission for adults, children and pensioner passes when you buy online
National Pharmacies Optical 20% discount off the rrp on the range of sunglasses
OPSM, sunglasses hut and other partners Up to 25% off optical products.
RedBalloon 30 off any RedBalloon experience when you spend over $129
Rydges Up to 15% off Best Flexible Rates at Rydges Hotels and Resorts when you book online
Sydney SEA LIFE Aquarium, Melbourne Aquarium and Manly SEA LIFE 20% discount on the admission price
The Golden Door 15% discount on regular rates
UnderWater World Mooloolaba and WILD LIFE Hamilton Island 20% discount on the admission price
WeightWatchers Get a special deal when you join Weight Watchers programs
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Apple Watch health and fitness features

The Apple Watch’s actual health-related features include:

  • Activity tracking
  • Calories burned
  • Heart rate sensing
  • Reminder to stand up if you've been sedentary for too long.

While Apple toyed with the idea of measuring other health data such as blood pressure, blood oxygenation, EKG and skin conductivity sensing, it was unable to work out the kinks and so these features will not be present in the first generation of the watch.

How can this data affect my insurance premiums?

The power is always in your hands. Or, more accurately in this case, on your wrist. Your general health has always had an impact on your insurance premiums and while you fitness may have been at one level at the time of underwriting, changes for the better may allow you to save money on you premiums. You can use the data from your fitness app as evidence to prove to your insurer that your fitness has improves and should be eligible for a reduction in your premium.

Want to know more about the Apple Watch Sport? Read our review


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Fitbit surge blue

Fitbit’s health features include:

  • Activity tracking
  • GPS tracking
  • Heart rate tracking

How can a Fitbit help me save money?

The Fitbit can monitor the calories you burn, its built-in GPS tracking record the distance, elevation, pace, route and run time, and stores this data. Programs such as AIA Vitality will reward you for passing on this data with access to member discounts and other rewards like a reduction in your premium.

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Fitbug’s health features include:

  • Digital coach
  • Goal setting
  • Logging your food setting
  • Tracking your steps.

How can Fitbug help me save on my insurance?

Your Fitbug digital coach will help you stay on the right track and hit your fitness goals. This is achieved with expert advice, healthy recipes, virtual walking challenges and other features. Just like with the Fitbit, AIA and other insurers will provide you with discounts and benefits if you provide them with this data.


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Polar health features include:

  • Calories Burned
  • High-quality heart rate monitor
  • Personalised features for age, height, etc.
  • Training Summary

Can Polar save me money on my premiums too?

Yes. Just like the previous two products, health initiative with partners such as AIA provide members with discounts and other benefits if you are willing to provide them with the data from your app.

Speak with an adviser about life insurers with health programs

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