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Later Life Options

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Later life protection with VitalityLife

Ill health in later life is something that affects everyone and with the number of people with dementia expected to rise to over a million by 20251, protection for conditions relevant to older ages are a growing concern.

At VitalityLife, we understand that it can be difficult to plan your finances for the future when you are unsure of what life will bring. To help you cover some of the costs associated with later life conditions, we have launched a world-class solution allowing you to add our Later Life Options as an optional benefit when you take out qualifying Serious Illness Cover plans2.


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VitalityLife's Later Life Options explained

Although in the UK someone is diagnosed with dementia every three minutes, very few life insurance providers offer specific cover to help protect members against the costs associated with later life care needs.

Our Later Life Options2 are a unique benefit of our Serious Illness Cover, offering two levels of protection to help support you in later life against the potential impact of dementia, Alzheimer’s, Parkinson's, stroke and frailty. It pays out based on the severity of your condition, so you could receive more than one payout, if your condition worsens.

Dementia and FrailCare Cover
You can add this option at the start of your plan with no additional cost. Cover begins at the end of your Serious Illness Cover term and is calculated at the start of the plan as 50% of the Serious Illness Cover and a maximum amount available of £100,000.

Dementia and FrailCare Cover Plus
Works in the same way as described above, but calculated as 100% of the Serious Illness Cover and a maximum amount available of £200,000 at the start of the plan. This Option can be chosen for an extra cost.

Funeral Cover
Offers up to £10,000 of cover, as part of both Later Life Options when you Choose Term Life cover.

Do I need a Later Life Option?

Dementia care can be up to 40% more expensive than standard social care and the typical cost of an individual’s dementia care is around £100,000 (Alzheimer's Society, 2018).

Whatever your age, if you or your dependants are relying on your salary to cover expenses and outgoings then taking out Serious Illness Cover could be beneficial for you. Serious Illness Cover helps ease the burden of critical illness by paying out a lump sum depending on the severity of the illness so you could continue to cover expenses while you recover.

We offer Later Life Options as an optional addition to this. You might not yet be considering how you would cover the costs associated with later life conditions or dementia care but if you think you might struggle with costs such as nursing care or care homes, then taking out a plan with one of our Later Life Options could help ease your mind that you and your loved ones are protected.

5-star rated Serious Illness Cover with VitalityLife

Our Comprehensive Serious Illness Cover includes 182 conditions and our Primary Serious Illness Cover includes 153 conditions. You can also rest assured that we cover all heart attacks, all strokes and more cancers than any other insurer7.
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Why choose us?

Take out Serious Illness Cover with a Later Life Option and benefit from additional protection from a provider you can trust.

  • A brand you can trust

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    In 2018 we paid out 99.8% of life insurance claims4

  • Discounts and rewards

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    Over £81 million given in Vitality benefits and rewards in 20185

  • Free, no-obligation advice

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    Our advisers are highly trained and offer free, expert advice

  • Improve your health

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    Lower incidence of Life Cover claims in actively engaged members6

Frequently asked questions

What if I have both Life Cover and Serious Illness Cover?

When taking out term Life Cover with your Serious Illness Cover, your Later Life Option also includes Funeral Cover, the amount of which will be equal to 10% of the term life benefit amount, at the start of your plan, up to £10,000.

How do severity based payments work?

Similar to Serious Illness Cover, Later Life Options will pay out lump sum payments based on the severity of the condition. Each condition we cover is given a severity level (A-D) and the percentage that is paid out will be dependent on this.

What is the maximum cover amount?

The maximum cover amount will depend on the Later Life Option chosen. The maximum amount of Dementia and FrailCare Cover available at the start of Serious Illness Cover is £100,000. For Dementia and FrailCare Cover Plus, this amount is £200,000.

For indexed plans, your Later Life Option cover amount may increase above this maximum amount available.

Will my monthly premiums stay the same?

When cover under your Later Life Option begins, premiums will continue to be paid. However, your Serious Illness Cover premium may be reduced.

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Important information

1Source: alzheimers.org (2019)
2This is not a long term care product.
3Defaqto, 2018
4The percentage of claims accepted for life and terminal illness cover in 2018 was 99.8% and the total amount paid was £56.3 million
5With VitalityLife's Optimisers which are available at an additional monthly cost of £1.75 for Lite or £4.50 for Full. Source: Vitality internal data, May 2019
6According to Vitality internal data (2018), over the past five years members who engaged in the Vitality Healthy Living Programme had a significantly lower incidence of Life Cover claims across all age groups when compared to those who did not engage.
7Defaqto verified Competitor Comparisons, Nov 2019