Update: Verizon Wireless has the Lifeproof iPhone 5 case in more available colors available for $50 with free shipping: Pink, Lime Green, Blue, Red, White, Black.

Amazon has just issued a big price drop on the Lifeproof iPhone 5 Frē case. It is now available for just $40 with free shipping in black or white. That’s $40 below retail and $20 under our previous all-time low.

Its ultra-rugged design is able to protect your iPhone from a 6.6′ drop, water submersion up to 6.6′, and ample amounts of dirt and dust. All ports, and buttons remain operational while the case is installed. At just $40, the Lifeproof Frē is worth picking up to have on hand for weekend boat rides, yard work or heavy partying