First reported by CNBC, life insurance provider John Hancock is partnering up with Apple in order to give all new and current members of its Vitality program a chance to earn an Apple Watch Series 3 by living a healthy life. The company first started offering Apple Watches to customers who bought life insurance policies of $2 million or more a few years ago. After seeing that those who received the watches increased their physical activity by 20%, it was decided that the offer should be extended to all interested U.S. customers.

Here's how it works: Once customers sign up for the Vitality program, they can purchase the watch through John Hancock for an initial payment of $25 plus a monthly installment plan. The more they exercise, they less their monthly payments are. If they meet their exercise requirement for the month, they don't have to pay anything at all, and end up owning an Apple Watch Series 3 for nearly free. And, hopefully, they'll feel healthier too. If you want the GPS + cellular model of the watch instead, you can choose to do that for an additional cost (unless you live in New York, in which case you aren't eligible for that offer).

Though John Hancock is the first to offer it, this Apple Watch motivation technique may extend to other insurance companies soon. Apple met with health insurer Aetna back in August to discuss a similar plan.

Thoughts? Questions?

Would you jog your way to a $25 Apple Watch? Let us know in the comments!