.jpg)
Proud owners of the Apple Watch are being offered accidental death benefit insurance coverage of up to $1,000 – but they will have to install and use a health app first.
Consumers who install the Cardiogram app on their devices will have guaranteed access to set-rate coverage provided by Amica Life and Greenhouse Life Insurance Company. The insurance program is currently available to users living in Arizona, Georgia, Indiana and Wisconsin. Both Cardiogram and the insurance benefit are also available on other wearable devices, such as Android Wear and Garmin.
“Aside from you and your loved ones, nobody wants you to be healthier than your health or life insurer. At Amica Life, we are excited about pioneering new digital methods to engage people and meet their needs,” said Amica Life vice-president and chief life actuary Shiela Companie.
Users already signed up to the free insurance coverage also have the option to upgrade their coverage to up to $500,000; they will have to pay from $9 up to $41 a month for the upgrade, however.
“Ultimately, life insurers save dollars by saving lives,” said Cardiogram co-founder Brandon Ballinger.
“The Apple Watch’s heart rate sensor is transforming healthcare from reactive to preventive, creating the opportunity for life and health insurers to save dollars by saving lives,” he told AppleInsider.
Ballinger gave assurances that no data is being shared in the Cardiogram program without the express consent of users. He also added that data gathered by the wearable devices is not used as a basis for the rates or for grounds to deny coverage.
