VitalityLife announces new range of discounts and promotionsVitalityLife has announced a range of new discounts and promotions, including lower premiums on Whole of Life, a special offer on Children’s Serious Illness Cover, and a new premium comparison tool for advisers.
Whole of Life enhancements – All new customers will now receive an extra 10% discount on Vitality Optimiser and Wellness Optimiser. VitalityLife’s Wellness Optimiser product offers customers an upfront discount if they agree to take the right steps to monitor their health. Members’ future premiums can then change annually depending on their Vitality status, which will be determined by the results of ongoing health checks. In addition, advisers who have recently placed a Vitality term life policy on-risk will also receive a quote for Whole of Life cover for any eligible and interested clients. The adviser can activate the additional Whole of Life cover simply by sending an email to Vitality – with no further underwriting and no additional administration.
Serious Illness Cover – £20,000 additional Serious Illness Cover for children, at no extra cost, when taking a policy with indexation and Vitality Plus. Customers can choose a cover amount of between £20,000 and £100,000 for their children and, if a child is diagnosed with one of the illnesses covered, VitalityLife provides a cash lump sum. Cover is provided for children from one month old and, if they stay in full-time education, they will be covered until the plan anniversary after their 23rd birthday.
Premium comparison tool – The easy to use adviser tool has been enhanced to allow advisers to compare traditional Vitality plans against those with Optimiser included, quickly showing the savings that can be made over the full term of the policy. The tool highlights many examples where policyholders will never pay more when choosing Optimiser and also now allows advisers to compare potential savings against other insurers in the market. To use the premium comparison tool, visit: premium comparison
Deepak Jobanputra, Deputy CEO at VitalityLife, said: “There are around 275,000* guaranteed acceptance Whole of Life policies sold annually in the UK. Many of these are taken out for funeral cover and these people are potentially over paying their policy by three times** compared to an underwritten policy. To help increase awareness and access to Whole of Life at an affordable price we will be proactively marketing Whole of Life cover to advisers who recently placed a term life policy with us.”
Justin Taurog, Managing Director Distribution & Sales at VitalityLife, said: “Our core purpose is to make families healthier and protect and enhance their lives. With these new changes we aim to further increase the take up of our Wellness and Vitality Optimisers, which both encourage and reward healthy lifestyles, while providing market leading protection solutions
“Last year we teamed up with Disney to help families get fit and healthy with the launch of Vitality Healthy Kids inspired by Disney, which provides fun and engaging ways to encourage children to be more physically active, eat better and develop healthy habits by using Disney characters as inspiration. Our new offer for children’s cover further extends this commitment to better protecting families.”
* Based on Swiss Re Term and Health Watch 2017
** Based on internal VitalityLife insight