Would you wear a fitness band for cheaper insurance?
Fitness bands, like Fitbit, have become more popular as people track their activity, and now a Canadian insurance company, Manulife, is offering reduced premiums to policyholders who wear them.
The reduction in premium isn’t for health insurance, unfortunately, but for life insurance. The theory is, if they can track how active you are, or aren’t, they can adjust your premium accordingly. If my health insurance company offered something like that, I would take it in a second. Of course, you’re giving them a lot of personal information, but your insurance company, health or life, already demands tons of info. They also keep track of if you get a flu shot or an annual physical.
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