The following HealthyWage review article is part of our top ways to make money fast article series designed to help our clients find a few extra dollars each month to help pay for coverage from among the best life insurance companies in the U.S. Our goal is simple, create articles that educate our clients and potential clients on the many different ways to make some money on the side in order to create an opportunity to pay his or her life insurance premiums.
Healthy Wage Review
Are you determined to lose weight? Then the best thing you can do is to make a bet—on yourself. Not only will you lose the weight, but you’ll make money too. If that’s not a win-win situation, then we don’t know what is! So, how do you do it? HealthyWage is a platform that allows you to place a monetary bet on your weight loss goals.
HealthyWage is a company that wanted to create an innovative way to tackle America’s ever-increasing waistline. Obesity research done by some of the top universities in the country suggested that incentivizing weight loss goals with money can help people actually lose weight—as can putting their own money on the line to reach their goals. Thus, HealthyWage was born!
$10,000 Team Challenge
The $10,000 Team Challenge is a 3-month long program with an official start date.
How to participate: Form a group of five people who really want to lose weight. Group members each pay $25/month to join. The team with the highest percentage of weight loss (in relation to their body weight) will win cash prizes. This is some serious prize money, and if you’re serious about losing weight then your $75 could wind up being an investment with great returns.
Drawback: Everyone who participates can’t be a winner. You have to be truly dedicated to your weight loss goals in order to have a shot of winning the cash.
Since this is a team effort, then one major drawback is trusting your teammates to pull their own weight—or in this case, to lose their own weight! All of your team members need to have great dedication to the challenge in order to win prize money.
The HealthyWager is a great option for individuals. You can place a HealthyWager by following these simple steps:
- Decide how many pounds you want to lose.
- Decide how long you need to reach the goal.
- Pick a monthly bet.
- Give some personal information
- Lose the weight
- Win the prize (hopefully!)
Drawback: You are in this alone. Some people may see that as a benefit, but according to research, team goals can help people lose weight, together.
People can set up or participate in what HealthyWage calls “Jackpot Challenges”. These are specific challenges with their own unique set of rules. Here’s a hypothetical jackpot challenge:
Weigh it Down Jackpot Challenge
- Entry Fee: $30/ month for 2 months
- Dates: January 1-March 1
- Pot Amount: Currently $1200
- Team Size: 2-4
There are many different jackpot challenges with slightly different variations.
Positive Aspects of HealthyWage
This makes losing weight fun—and even profitable. You can win a small prize or even thousands of dollars. Of course you may lose some money if you don’t win, but think of all those unused gym memberships—when you do, then $20 or $30 a month doesn’t sound so bad, does it?
Drawbacks of HealthyWage
Not everyone can win, which means inevitably some people are going to lose their investment. This is only a bad thing if you in fact do lose…so they best way to prevent it from happening is to simply lose weight and win!
Another drawback is that clearly HealthyWage is only really useful for people who are obese or at least slightly overweight. If you have a “normal” or “healthy” body, and don’t have much weight to lose, then you’re not going to be very likely to win.
Overall Opinion of HealthyWage
This is a great way to lose weight and potentially earn money! Even if you aren’t a financial winner, you’ll still be a winner when it comes to weight loss. And losing weight can help save you money on life insurance premiums.
Why is a life insurance company writing about HealthyWage?
There are two reasons we are writing about HealthyWage.
- A lot of people pay higher premiums on their life insurance policy due either being obese or side effects of being obese. To avoid this, we want to provide you with healthy and fun ways to lose weight – and to keep it off.
- A lot of people don’t buy life insurance because they don’t have the extra cash to spare. Imagine you win HealthyWage! After losing all that weight, the next thing you can do that’s good for you (and your family) is to buy a life insurance policy. Even if you only buy a final expenses policy to cover the costs of funeral and so forth, this is still a great way to spend your weight loss winnings.
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