Apple made a huge showing last week announcing their full lineup of iPhone 6s handsets including the standard 6s and premium 6s Plus model. They were also busy launching a new iPhone for Life Upgrade Program that is perfect for Apple enthusiasts who are always looking for the latest iPhone, but with an added bonus.

Apple’s upgrade program allows consumers to get the latest iPhone once per year which aligns with the typical annual launch cycle. The program allows owners purchasing a new iPhone 6s to upgrade this time next year when the new model launches by simply paying $32/month. As long as your 6s is in good working order, you simply trade in your handset when a new iPhone is launched next year and continue the upgrade cycle for a minimum two year period.

Apple's iPhone for Life Upgrade Program Starts at $32/Month and Includes AppleCare+

Included with the iPhone upgrade program is AppleCare+ which gives you product protection for the life of the two year program. Apple’s product protection program allows you to replace to handsets within the two year period less a $99 deductible for each occurrence.

The new program is expected to become huge with consumers with Apple’s intent of minimizing carrier profits while maximizing their own. All of the top US carriers have similar programs, but Apple’s program is significantly cheaper than some.

Verizon for instance has Verizon Edge which allows you to upgrade your iPhone after 24 months, but is slightly more and doesn’t offer any free product protection such as AppleCare+. Sprint has iPhone Forever which costs less at $26/month, but again, doesn’t offer product protection. When looking at probably the most replaced part on any iPhone, the cost of screen replacement of most models is typically well over $200 per occurrence.