Business

Life insurance policyholders can grow their cover daily after Samsung partnership

Life insurance policyholders can grow their life cover by up to R216 daily with 1Life Pulse, a “life insurance ecosystem” launched by 1Life, Samsung South Africa and LifeQ.

In a statement on Friday, Samsung SA said the partnership “brings life insurance, technology and science together” to enable policyholders make better choices regarding their wellbeing.

It explained, “1Life Pulse is backed by leading wearables and app technology and enables consumers to grow their life insurance cover simply by making better choices.

“1Life Pulse is a sophisticated lifestyle monitor and management system that tracks and guides heart, activity and sleep – monitoring overall wellbeing.

“Every time you choose to get a little extra sleep or go for a walk, for example, you’re likely to grow your life cover by up to R216 per day, or up to R6,560 per month, starting from day one.”

This means policyholders can grow their additional life cover by up to R200,000 over a period of two years, depending on how their choices affect their wellbeing.

How it works

“All qualifying new 1Life policyholders that take out cover for R1 million or more, receive a Samsung Galaxy Watch Active 2, chipped against their 1Life policy number. By simply downloading and activating the VeoSens App by Samsung and LifeQ, consumers can start growing their life insurance,” the group explained.

Policyholders earn R50,000 towards their life cover immediately they take up the offer. Each time the watch is strapped on, they can grow their additional life cover in two ways: 50 percent by simply monitoring their activities and another 50 percent by making positive changes.

1Life CEO Laurence Hillman said the product encourages policyholders to “do all the activities of life well.”

He added, “We want to help ordinary South Africans on a journey of positive change, helping them make better choices around their wellbeing and to be rewarded through real-time increases to their life insurance every month.” 

‘Real benefits’

Samsung SA said unlike most products in the wearables space, 1Life Pulse’s VeoSens provides “a real-time snapshot of one’s overall wellbeing which allows users to see the impact of simple lifestyle changes.”

LifeQ provides four custom Health Scores for Heart, Activity, Sleep and Fitness. Users can therefore easily check their state of health and adjust their lifestyles accordingly if necessary.

LifeQ’s Vice-President for Commercial Christopher Rimmer added, “We believe that what 1Life has done here is revolutionary – using inputs from a wearable device and rewarding the everyday person with real benefits.”

Samsung SA’s Head of Content and Services Kagiso Khaole said the partnership enables Samsung to “demonstrate our vision of a connected lifestyle to even more South Africans.”

“Our offering is underpinned by the fact that, as your life and wellbeing grows, so too does your cover. This is a new way of life cover, which we believe will be the way of life cover in the future,” added Hillman.

Categories: Business, Lifestyle, South Africa

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