Vitality Life Insurance Products - Challenging the Market and Rewarding the Customer

Vitality Life (previously PruProtect) continue to promote their insurance products that reward customers for living a healthy lifestyle. This reward system applies to their Life Insurance, Serious Illness Cover, Income Protection policies and Private Medical Insurance policies.

What does this mean?

When you buy Life Insurance, Critical Illness Cover and Income Protection you will typically pay a set monthly premium* for a specific amount of cover over a certain number of years.

Vitality Life Insurance brings a dynamic to the market where your policy premiums can reduce depending upon how healthy your lifestyle is. Rewards are based upon their groupings of bronze, silver, gold and platinum fitness levels.

How does it work?

To see the benefits of Vitality Life you will need to purchase either a Life Insurance, Serious Illness Cover and/or Income Protection policy. An example of how much this could cost for an office-based 30 year old non-smoker is:

Once your policy is in place you can then register a fitness device or mobile application to your account, so that Vitality Life can receive regular updates as to your fitness activities. These can include Fitbits, Fitbugs, Garmin devices, Polar watches, etc. When you reach certain levels of activity you can change group from bronze to silver, gold or platinum and this can affect your premiums on the plan anniversary.

So what are the benefits to this policy?

As well as having the potential to reduce your policy premiums every year, you may also be entitled to the following benefits if you are able to register consistent activity levels:

• Money off British Airways
• Cashback every year
• Discounted Eurostar tickets
• iTunes prize draws
• Weekly cinema tickets
• Weekly free starbucks drink

Regardless of your fitness levels the Vitality Life policy set comes with discounts at the following companies as standard:

• Virgin gym memberships
• Champneys Spa
• National Trust
• Sweatshop
• Fitbug
• Parkrun
• Polar
• Weight Watchers
• Lloyds Pharmacy

These are just a few examples of the additional benefits a Vitality Life plan has to offer.

When will I see the benefits?

Premium reductions will occur when your annual anniversary statement is issued. You will need to have maintained a healthy lifestyle throughout the year in order to be eligible for a premium reduction.

Will my premiums increase if I am not active?

One of their popular plans at present is their ‘Optimiser’ policy, this gives an initial discount (up to 40%) then your premiums change each year based on your activity levels:

• Bronze member (little to no activity): 2% increase to premiums
• Silver member (little to some activity): 1% increase to premiums
• Gold member (moderate activity levels): no change to premiums
• Platinum member (high activity levels): 1% decrease to premiums

The alternative is to not choose the ‘Optimser’ plan which means your premiums are higher to start with but can only go down based on high activity levels, they will not increase.

How do I apply for this cover?

Our insurance advisers regularly secure Life, Critical Illness Cover and Income Protection policies for customers. Please feel free to contact us on 0800 567 7450 to see if the Vitality Life set of products suits your individuals needs; you may find that your medical history, occupation or pastimes may mean that your cover is more suited to a different insurance provider.

*Provided that a guaranteed premium option was purchased with the policy.
**Premiums are true as of September 2015. Premiums calculated using Vitality Life’s Optimiser plan meaning premiums can go up or down each year based on activity levels.

(quotations made directly on Vitality website 7 Sept 2015, 13:45)