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Free Apple iWatch - Vitality Life
Dazvanman
Posts: 3 Newbie
Hi Guys,
Humour me on this and I apologise for my dimness if that's how it comes across. I need something explaining so I can get my head around it.
Vitality are offering a new £369.00 Apple iWatch for people who already have life insurance with them and the idea being that the more active you are the lesser the direct debit on paying back the £300 loan as you need to pay the £69.00 upfront.
If you are reasonably active however no gym guru then the most you will pay back per month over I think 24 months is £12.50. On the flip side if you are uber fit and hit the gym everyday then your DD is £0. If this is the case how do Vitality make there money back on the £300 loan?
Appreciate any feedback.
Humour me on this and I apologise for my dimness if that's how it comes across. I need something explaining so I can get my head around it.
Vitality are offering a new £369.00 Apple iWatch for people who already have life insurance with them and the idea being that the more active you are the lesser the direct debit on paying back the £300 loan as you need to pay the £69.00 upfront.
If you are reasonably active however no gym guru then the most you will pay back per month over I think 24 months is £12.50. On the flip side if you are uber fit and hit the gym everyday then your DD is £0. If this is the case how do Vitality make there money back on the £300 loan?
Appreciate any feedback.
0
Comments
-
By increasing customer numbers based on the appeal of a free watch.
Plus of course, it provides them with a mass of data on the real exercise patters of its customers, so pricing can be refined.0 -
Also, by increasing the fitness of their client bank they may reduce the number of claims they experience. Saving one claim for £100,000 would cover the cost of a lot of iWatchs.0
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