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Reduced Loan Repayments on Apple Watch Series 8 ($629) with Weekly Activity Goals over 2 Yrs @ AIA Health Insurance & Vitality

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Reduced Loan Repayments on Apple Watch Series 8 ($629) with Weekly Activity Goals over 2 Yrs @ AIA Health Insurance & Vitality
Go to Deal
stevensx on 01/03/2023 - 14:46 aia.com.au (819 clicks)
Last edited 01/03/2023 - 16:11 by 1 other user

The offer: Take out a 24-month loan for $629 to purchase an Apple Watch Series 8. Meet your weekly physical activity goals to reduce the amount of monthly loan repayments. AIA Vitality Starter members can only access this benefit upon reaching Platinum status.

Series 8 deal launches today after a prolonged hiatus when the Series 7 ran out of stock.

AIA have now separated themselves from Optus, meaning you are no longer required to purchase the cellular version of the Apple Watch

With Apple Watch you now have a new way to increase your physical activity and stay motivated to make healthier choices. Physical activity is one of the cornerstones of good overall health and wellbeing, and we’re excited to be able to deliver this fantastic benefit to AIA Vitality members.

Get Apple Watch. Get active. Get rewarded.

You can now choose to get an Apple Watch Series 8 (GPS),(total value $629) and use your Active Benefit rewards to earn your Apple Watch in full, by getting active and achieving your weekly Active Benefits target each week for 24 months.

How does the benefit work?

You’ll need to enter into an agreement with our loan provider, etika for a loan amount of $629, and set up a direct debit for 24 months. You can reduce your monthly repayments by being active and achieving your weekly Active Benefits targets. Your weekly Active Benefits target is dynamic, and is based on your target achievements in previous weeks.

Electrical & Electronics Activity Apple Exercise Loan Personal Loan Smartwatch

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Comments

  • Scrooge McDeal on 01/03/2023 - 14:48
    +1

    And have a health insurance monitoring my activities? Plus what happens if you don't achieve your weekly targets?

    • Capt0083 on 01/03/2023 - 14:50
      +1

      You pay for the watch

    • stevensx on 01/03/2023 - 14:51
      +2

      And have a health insurance monitoring my activities?
      It tracks your steps / gym visits - hardly the most sophisticated form of data collection

      Plus what happens if you don't achieve your weekly targets?
      It's noted in the link, you pay whatever the gap is for weeks you don't hit your target. In this case, it's equivalent to paying for part of the watch yourself as this is a zero interest loan. Very easy to hit the weekly target.

      • Scrooge McDeal on 01/03/2023 - 14:52

        Thank you for the explanation. 👍

    • prisonmike on 01/03/2023 - 14:53
      +10

      If you don’t meet your goals then they will send electric shock via the watch.

  • easternculture on 01/03/2023 - 14:51
    +2

    Nice way to keep you locked in for 24 months

    Already got over $1000 worth in gift cards/free months in 8 months

    • Nickbag on 01/03/2023 - 14:52

      Already got over $1000 worth in gift cards/free months in 8 months

      is it via AIA health insurance or how?

      • easternculture on 01/03/2023 - 14:52
        +5

        Switching insurance providers

        Already got 2 months free from doctors health, 2 months free from bupa, 1 month free medibank, all on highest cover

        $100 GC Doctors health, $250 GC medibank, $300 worth WW reward points from Bupa

        • sween64 on 01/03/2023 - 15:37

          Do you jump around with Extras, Hospital or both?

          • easternculture on 01/03/2023 - 15:42

            @sween64: Both. Combined Bronze hospital, top extras

            • YesPleaseThankYou on 01/03/2023 - 15:53
              +1

              @easternculture: Constantly churning through the providers is the only way make significant savings on health insurance.

              • easternculture on 01/03/2023 - 16:06

                @YesPleaseThankYou: Yes, while saving a few grand on medicare levy surcharge

                • 83ams on 01/03/2023 - 16:53

                  @easternculture: I've never looked at churning private health.. maybe i should.. what about waiting periods on extras? can you claim the cap limit with the particular provider and then churn? what happens when you need to go "back" to a provider after going full circle? do they blacklist you or anything?

                  • YesPleaseThankYou on 01/03/2023 - 16:56
                    +2

                    @83ams:

                    what about waiting periods on extras?

                    They transfer over.

                    can you claim the cap limit with the particular provider and then churn?

                    Why wouldn't you be able to? They can't hold you hostage as a customer.

                    do they blacklist you or anything?

                    On what ground would you be blacklisted? For taking up their promotion?

                    Please read this document from the Private Health Insurance Ombudsman: https://www.ombudsman.gov.au/__data/assets/pdf_file/0020/294…

                    • 83ams on 01/03/2023 - 16:59

                      @YesPleaseThankYou: very interesting. will look into it further and start taking advantage of some promotions!

                      • YesPleaseThankYou on 01/03/2023 - 17:03
                        +3

                        @83ams: The best value promotions are the '6 weeks free after 1 month' (approximately 58% discount).

                        There are many other types of promotions, some require you to be a customer for longer before the free period applies. Be careful with these, as they diminish your discount.

                        Also, note that a handful of providers, eg Peoplecare, reset extras limits on 1 July annually. You can switch to this fund mid-year and buy new glasses etc etc.

                        Treat the churn as a transaction as the retentions teams are skilled at making you feel guilty for leaving them.

                        • easternculture on 01/03/2023 - 19:45
                          +1

                          @YesPleaseThankYou:

                          Also, note that a handful of providers, eg Peoplecare, reset extras limits on 1 July annually. You can switch to this fund mid-year and buy new glasses etc etc.

                          Thats exactly what i do lol

                    • illiterate on 28/07/2023 - 21:28

                      @YesPleaseThankYou: waiting periods transfer over? so if, for example, benefit A has a 3 year waiting period, and i switch over from another insurance company (i've had insurance my entire life), then there's no waiting period? just want to doubly make sure before i take the plunge in switching

    • karseeeejaaaa on 01/03/2023 - 14:53

      By switching providers? Or something else? Please share.

      • easternculture on 01/03/2023 - 14:59
        +2

        Switching insurance providers

        Already got 2 months free from doctors health, 2 months free from bupa, 1 month free medibank all on highest cover

        $100 GC Doctors health, $250 GC medibank, $300 worth WW reward points from Bupa

        Plus already got $800 of contact lenses and 2 no gap dentist visits so far

        • chadleyshe on 01/03/2023 - 17:27

          I do this with Qantas as well every 6 months, end up with 75,000 points or so every 8 months.

          Policy cost is only ever about $8pw more, so it's so worth it to frequently change.

    • stevensx on 01/03/2023 - 14:53

      Vitality is quite good with the freebies for hitting your target.

      Where this deal beats the activity target is theoretically this provides you with $26p.m of value as opposed to $20 through the standard vouchers….also gives you the benefit of securing the $629 Apple Gift card upfront.

      • Nickbag on 01/03/2023 - 14:54

        how realistic are these targets? can you provide example. I am with bupa and wants to see if this move will benefit me. There is no rewards etc in Bupa.

        • InspironN5110 on 01/03/2023 - 15:08
          +4

          Target is 100 points per day with a max of 500 points a week to hit target.

          You get 50 points for 7,500 steps and 100 points for 12,500 steps. No other thresholds in between.

          To hit 500 points weekly target, you'll need 5 days of 12,500 steps.

          Just buy a step counter for a spare phone and let it run. Hits the 12,500 daily step target required easily.

          • chillybags on 01/03/2023 - 15:27

            @InspironN5110: The target goes up each week you meet your previous week target. Starts around 200 points a week (maybe less, can’t remember). What you do is only open the app on a Monday or Tuesday then wait till next Monday before you open the app again. App thinks you didn’t meet your target and keeps it at previous weeks target (I.e 200 points) and then after a minute or so your activity registers and you get your points added for previous week.

            If you need to use the app mid week just turn off apple health syncing (for iPhones at least) and turn it back on the Monday.

            • InspironN5110 on 01/03/2023 - 15:29

              @chillybags: But you'll want to meet targets in this case, otherwise there will be out of pocket costs for the watch.

              • chillybags on 01/03/2023 - 17:58

                @InspironN5110: When you open the app on a Monday morning it will initially go didnt meet, keep target the same. Then a minute or so later apple health will sync (if using the steps method because gym membership gained points come automatically) and it will then register as goal completed but next week target is already set.

                • Nickbag on 18/03/2023 - 23:51

                  @chillybags: I got the watch and will try to follow this trick and hopefully vitality app reads the previous week points and update the result on monday

        • stevensx on 01/03/2023 - 15:35
          +1

          A partner gym visit (Goodlife, Virgin Active, Fitness First) is worth 100 points. I go to the gym 5 days a week in most cases so that means I'll pretty much always hit the maximum weekly target AIA can set without needing to worry about steps etc.

          • Nickbag on 01/03/2023 - 15:42
            -1

            @stevensx: anytime fitness?

          • slowmo on 01/03/2023 - 16:09

            @stevensx: What is considered a gym visit? Do I hang around until the gps registers?

            • nubix on 01/03/2023 - 17:09
              +1

              @slowmo: just scan your card at check in; you can walk straight out

    • interlocal on 01/03/2023 - 16:11
      +3

      actually it's reverse lock - we had AIA insurance and Apple Watch offer like that, and when we switched insurance half a year later, we still got AIA Vitality for free for the rest of watch payout period. So in those 18 months we just got those $1000-$1500 of gift cards without actually paying for insurance.

      • jackking on 02/03/2023 - 03:11

        Anyone else tried this? If so then insane deal

      • 1111L on 02/03/2023 - 10:12

        I’m also curious about this. Feels risky to do now but tempting. The T&C says:

        If you terminate your AIA policy, all outstanding loan repayment amounts for this benefit will need to be settled in full and directly with etika. Please refer to your loan agreement for more details.

        • YesPleaseThankYou on 02/03/2023 - 11:02

          That seems pretty clear!

        • interlocal on 03/03/2023 - 10:02

          Maybe they changed T&Cs. We got watch in ~Nov 2020, and we cancelled insurance in ~May 2021. AIA Vitality program renewed twice, in 2021 and 2022 without any issues, and then in Nov 2022 after last payment to etika, our logins to AIA just stopped working without any emails / notifications. It looked like they just haven't had process for that situation (at least at that point).

  • evgpek on 01/03/2023 - 14:56

    What’s the cheapest cover which qualifies

    • InspironN5110 on 01/03/2023 - 15:13
      +2

      AIA Vitality can also be had via AIA's life insurance policies with a fee of $11.50 per month ($138 pa). You normally get the cost back quite easily if you hit targets.

      Cheapest way is potentially a low level life insurance policy with the Vitality membership added on.

      There are also cash vouchers (to CBA bank accounts) or shopping vouchers you can redeem when you hit point milestones.

      $20 at 10,000 points
      $40 at 15,000 points
      $60 at 20,000 points
      $80 at 25,000 points
      $100 at 30,000 points
      $200 at 35,000 points

      Other benefits include 50% off Goodlife and Virgin Active gyms, $10.50 Hoyts restricted movie vouchers (excludes >2pm Sat Sun), etc.

      • ongrudy on 02/03/2023 - 02:02

        Don't you need the premium to be greater than $750pa to get AIA Vitality included?

        Any link to get low level life insurance with AIA vitality included?

        • InspironN5110 on 02/03/2023 - 12:11

          Minimum life insurance premiums are $300 pa and minimum amount to qualify for Vitality is $540 pa.

  • abs898 on 01/03/2023 - 14:59

    Cant see anything but will Erika do a credit check?
    Lol if there's a credit check I might as well get a new credit card and churn points worth more than this watch.

    • slowmo on 01/03/2023 - 16:10

      To be honest, churning home loans with cashback is best at the moment

    • interlocal on 01/03/2023 - 16:12
      +1

      yes they do, every time I applied for CC after that, someone from the bank asked me what that $650 credit was for.

  • dust on 01/03/2023 - 15:21
    +2

    Interesting. So instead of getting $5 per week (total of $520 if you hit the target every week for 24 months), you get an Apple Watch 8, worth $629 RRP. So depends on how you value the watch and whether you will hit all the weekly targets.

    • YesPleaseThankYou on 01/03/2023 - 15:55

      If this is the value ($520) then customers are definitely better off churning through providers.

      Following the '6 weeks free after 1 month' offers judiciously will save you approximately 58% off combined policies.

  • stockpimp on 01/03/2023 - 15:39
    +1

    Also you get 50% cash back off flights (excluding the taxes) at platinum level which is easy to get to

    • Nickbag on 02/03/2023 - 23:31

      How easy is to get to the platinum level . I dont have any partnered gym near my place.

  • lint on 01/03/2023 - 15:49
    +1

    What happens after the 24 months, can you get another Apple Watch for another 24 months of hitting weekly targets or do you have to leave and rejoin for that?

  • mbck on 01/03/2023 - 16:00

    What are the 3xample of weekly targets?

    • evgpek on 01/03/2023 - 16:54

      And are they achievable
      Because if they are flexible and personal
      They will just raise them till you fail?

      • stevensx on 01/03/2023 - 18:33

        The target comes in the form of a number of points you need to hit. The points target adjusts but never goes above 500. You can achieve a maximum of 100 points p/day.

        Couple of examples:
        12,500 steps is worth 100 points.
        A gym visit at a partnered gym is worth 100 points.

        • slowmo on 01/03/2023 - 18:49

          so if someone lives next to a partnered gym, this is a no-brainer.. just 'visit' the gym everyday for least amount of effort.

          • karseeeejaaaa on 01/03/2023 - 18:59

            @slowmo: Wouldn’t you need to be a member of the partner gym? Which is additional cost?

  • knobbs on 01/03/2023 - 16:20

    It is only worth ~$100 extra. Weekly $5 voucher you get if not on the watch loan is $5 x 52 x 2 = $520

    • Meovel on 31/05/2023 - 23:51

      Can't you get both?

      • knobbs on 01/06/2023 - 22:09

        I might try it if you can get both

  • OnThaCheap on 01/03/2023 - 17:09

    So how does this work with family insurance policies? Can multiple people earn vouchers\ apple watch?

    • Heiks9000 on 01/03/2023 - 17:33
      +1

      Every member can earn the vouchers :)

    • Commenter on 01/03/2023 - 17:35

      Up to two adults on the plan

  • alamodey on 01/03/2023 - 21:31
    +1

    a more general question about AIA, how are their premiums compared to the big insurers like HCF/medibank etc.? if the premiums are a lot higher, you are basically paying for the watch anyway?

    • slowmo on 02/03/2023 - 10:51

      want to know this as well. because some health insurance are anal about claim periods (6 months lapse dental visit to the day itself) and some don't care (eg, 2 times a year, even if you do 1 day after another)

      • YesPleaseThankYou on 02/03/2023 - 11:04

        This should be in the policy booklets available on insurer websites.

    • YesPleaseThankYou on 02/03/2023 - 11:03
      -1

      This is something you're going to have to explore yourself. Compare here: https://www.privatehealth.gov.au/

    • interlocal on 03/03/2023 - 10:07
      +1

      my experience was their family cover was about $10-15 higher than medibank. Although you are not paying for the watch, but for included AIA Vitality program (that costs $5/mo per person, as I understand, so that makes sense). The real value of AIA Vitality is not the watch, but ability to get several hundred dollars per person in gift cards per year if you do some sport activities, health checks etc (couple of years ago it was not that hard to get $600-$700 per person per year, so up to 30% of your premiums back, but now I think rewards are smaller)

  • jackking on 02/03/2023 - 08:14
    +1

    I was able to add it as a gift card to my account. Technically don’t even need to buy the watch, can use it on any items from apple

  • omnimaqq on 09/06/2023 - 08:01
    Merged from Free Apple Watch Series 8 When You Meet Weekly Activity Targets (AIA Health Insurance & Vitality Membership Required)

    The more Active Benefits targets you reach every month, the less your loan repayment. You really can earn your Apple Watch Series 8 just by being active!

    Also note that once you sign up, you simply get a gift card code valued at $629 sent to you and you purchase the Watch yourself at Apple, which means if you want to upgrade to cellular or a different Watch band, you just have to pay the difference at Apple.

    Steps to get the free Apple Watch.
    1. Sign up in your AIA vitality app
    2. Once done you get a gift card voucher code to use at Apple Store
    3. Buy from Apple outright
    4. The app will notify you when the date of having to meet activity targets will start

    From doing just the normal $5 weekly benefits, it would seem the activity will ramp up each week if you hit the target, maxing out at 500 points per week. This means at a minimum you need to get 3 x 100 point days and 4 x 50 point days. Ie if you do 2 x 100 point days you won’t ever hit 500 for getting 50 for the rest.

    I’m kinda more motivated by punishment than reward so after getting the Apple Watch my activity has already gone up a lot. Plus it seems to be tracking better than my Garmin (short walks would already give you 50 points).

    I’m with AIA already since work pays for health insurance so it’s almost a no brainer to get the Watch if you have an iPhone. You’ll need to payout the loan if you leave AIA.

    • leeroys_dad on 09/06/2023 - 08:28

      So this is instead of the $5 voucher/payment, not on top of - cannot double dip?

      • chartparker on 09/06/2023 - 08:45

        Correct. This replaces the $5 per week incentive

    • kehuehue on 09/06/2023 - 08:30

      Achieve 4-5 targets over 24 months is really stretching it lol

      also * ^AIA Vitality Starter members can only access this benefit upon reaching Platinum status.

    • Dday1 on 09/06/2023 - 08:32

      Is the AIA life insurance any good?

    • YesPleaseThankYou on 09/06/2023 - 08:32

      You will save much more than the value of the voucher by simply churning through insurers. See here for inspiration https://www.ozbargain.com.au/comment/13825131/redir

      The voucher and the requirement to payout the loan is designed to discourage you from leaving. I wouldn't do it.

      • omnimaqq on 09/06/2023 - 09:47

        Churn through insurers but doesn’t this reset all the cooling off periods for extras etc? Also what about when it comes to tax time you have to get 10 different statements from all the insurers?

        • MBix on 09/06/2023 - 09:49
          +1

          Not sure about the tax time stuff, but when changing Insurers they have always honoured any waiting periods I've already sat with previous insurer

        • YesPleaseThankYou on 09/06/2023 - 10:24

          No, the Transfer Certificates ensure that any waiting periods served do not have to be re-served. Refer https://www.ombudsman.gov.au/__data/assets/pdf_file/0020/294…

          I haven't submitted statements to the ATO in years. It's all done automatically, and I have never had a problem.

    • sheikyerbouti on 09/06/2023 - 08:50
      +4

      I think "free" is misleading here. The watch is financed (must pass a credit check), and if you meet their activity targets AIA will cover some/all of the repayments for you. If you don't, you're still liable for the repayments. Either way this will go on your credit history. An injury or a missed data sync between the watch and AIA's site could see you being required to repay much of the cost.

      As the site itself says "The loan with etika is fixed at $629, you cannot change the loan amount."

      • abs898 on 09/06/2023 - 09:16

        I was just going to last, last time they had a similar offer, they did a credit check.

        I would rather do a credit check for bonus signup on credit cards than this.

      • omnimaqq on 09/06/2023 - 09:51

        Yea interest free loan that I would otherwise have to pay upfront for anyway. I see it as an elongated after pay with the potential not pay some / most of the repayments. We’ll see how it goes.

        I don’t churn credit cards so credit check doesn’t really impact me.

    • YesPleaseThankYou on 09/06/2023 - 09:17

      It really is quite a tricky and onerous promotion.

    • try2bhelpful on 09/06/2023 - 09:18
      +1

      Did you need to get an Optus plan? This is mentioned in the FAQ.

      • omnimaqq on 09/06/2023 - 09:42

        Don’t need to be with Optus, I think that was an old promo. This gives you an Apple gift card directly to use at the store.

        • try2bhelpful on 09/06/2023 - 09:43

          Thanks for the clarification. The FAQ does mention the Watch 7.

          • MBix on 09/06/2023 - 09:51

            @try2bhelpful: Definitely a Gift Card for the Apple Store these days - nothing to do with Optus any more AFAIK. You can actually use the $629 gift card for whatever you like too I'm pretty sure.

            • omnimaqq on 09/06/2023 - 09:53
              +1

              @MBix: Yea it’s not tied to have to buy the Watch. Although you’ll need to have something to achieve the activity targets if you don’t want to pay

              • MBix on 09/06/2023 - 09:56

                @omnimaqq: Yeh, I think it's obviously easier with a wearable but if you track a walk/run etc with your phone and certain apps I believe like Strava etc it does the job too

    • cryptowiz on 09/06/2023 - 09:19
      +1

      Medibank Private has had a different system (Live Better) in place for a couple of years now where (once you allow it) your existing fitness tracker reports your data and gives you points that are redeemable for things like an Apple Watch, Brooks or Adidas joggers, Amcal Chemist cards etc. We've earned an absolute fortune in that time as we are both very active despite being in our mid-sixties. Works well for us but YMMV.

      • knobbs on 09/06/2023 - 09:33

        A crypto wizard and gaming the system at 60+, I salute you

        • cryptowiz on 09/06/2023 - 09:50

          Sorry to disappoint you but the cryptowiz moniker predates Bitcoin by nearly 20 years. A colleague gave me that nickname when I broke the encryption on a proprietary computer program we used back in the late 1980s. I'd always had an interest in cryptography and I've used it ever since. I did fool around with Bitcoin mining when it first launched but gave up after a few weeks and went back to assigning my spare computer to trying to find Mersenne Primes as part of the Great Internet Mersenne Prime Search. Yep, I'm that much of a nerd.

    • eagerfisherman on 09/06/2023 - 09:24

      Being with AIA as a billed customer, is not really the same as handing them your health data. It isn't a "no brainer", there's more to consider than just a "free" watch.

    • creeps_bay on 09/06/2023 - 09:39

      Not free, may be max 5% of people taking up this offer can get this free if they can hassle up daily for 2 years. Definately not worth the effort to commit for 2 years.

      Churn couple of times and you can buy yourself the watch outright from the money saved.

    • try2bhelpful on 09/06/2023 - 09:54

      The main issue is I couldn’t find out what conditions need to be met. I use the Qantas app and it isn’t difficult to meet the daily targets. Since we got our Apple Watches we are, certainly, doing a lot more activity than we were.

      • MBix on 09/06/2023 - 10:02

        https://resources.aia.com.au/rs/aiaaustralia1/images/AIA-Vit…

        This may be a little out of date now, and it only really shows points for other various health checks. The important part for the daily/weekly targets is on the second page "Improve your Health"

        Essentially the important parts are once you've reached the targets for a few weeks in a row they will go up to 500 point target weekly.

        Once at 500 point targets (100 maximum per day) the easiest ways are:

        50 Points Per Day: 7500 to 12499 Steps
        100 Points Per Day: 12500+ Steps

        or

        50 Points Per Day: 30 mins physical activity with 150 kcals burned (at a rate of 300 kcals per hour)
        100 Points Per Day: 60 mins physical activity with 300 kcals burned (at a rate of 300 kcals per hour)

        There's another couple ways to do it surrounding heart rate and distance, but the Steps/time seem to be the easiest for a fair few to achieve

        • omnimaqq on 09/06/2023 - 10:07

          Another seems to be signing into a partner gym which gives 100 points
          Fitness first
          Virgin active
          Good life

      • stevensx on 10/06/2023 - 11:28

        The major key benefit of signing up with AIA is the 50% off gym memberships. My local gym is Virgin Active ($55pw)….just about everyone who is a member of Virgin is signed up to AIA lol

    • nsingh21 on 09/06/2023 - 09:56

      Wait - doesn't the repayments to etika exceed the AIA reimbursement by $18 each month? So you're still out-of-pocket?

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