Who are Vitality?
Vitality’s core purpose is to make people healthier and to enhance and protect people’s lives. They focus on encouragement of healthy living by rewarding people for being active – part of their Shared Value model. Vitality has pledged to get 100 million people 20% more active by 2025.
Vitality offers comprehensive health and life cover with VitalityHealth and VitalityLife. They also have VitalityInvest which offers savings and retirement plans.
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Vitality is owned by Discovery holdings, a global insurance company with over 4 million customers. VitalityLife used to be known as PruLife until a rebrand in 2014.
What are the different types of Vitality life insurance?
VitalityLife offers a complete range of protection products, with plenty of extras and rewards:
Vitality term life insurance
Term life insurance policies pay out a one-off lump sum if you become seriously ill or die during the policy’s fixed term. Vitality offer three cover options; decreasing, level or increasing to best serve your individual needs. You can choose how long you’d like to be covered for between 5-70 years, as well as the amount you'd like to be insured for, up to £18,000,000. Your monthly premium will then be calculated and take into account other things such as your current health and age. Term life insurance will pay out if you become critically ill during your term to help with your finances whilst your recover, or if you pass away during the term your family will receive a pay out.
Vitality whole of life insurance
Also know as whole of life assurance, this type of life insurance policy guarantees your family get a payout when you die. Unlike term life insurance, whole of life insurance does not have a policy end date, the policy only ends when you pass away, this is why the payout is guaranteed. Taking out whole of life insurance is a great options for those who want to leave something for their loved ones, and those who wish to avoid hefty inheritance tax bills. Currently, if your estate is over £325,000, inheritance tax is 40% of its value. If you take out whole of life cover and write your policy into a trust, you won’t need to pay inheritance tax on it, adding further peace of mind for your family and loved ones.
Again, there are three cover options – LifestyleCare Cover for those with serious illnesses, Premium Step extra with an upfront discount of up to 40%, or traditional whole of life cover.
Vitality joint life insurance
A joint life insurance policy covers you and your other half under one policy, also know as partners life insurance, couples life insurance and first-to-die life insurance. This offers security should the unexpected happen, the payout can be used for anything such as covering the mortgage, keeping up with bills that would usually be split or any other expenses. Joint life insurance cover is a great option for couples as it is usually cheaper than 2 seperate policies, it is important to remember that the policy ends once a payout has been made for one partner when they pass away; meaning there will only be one payout from this type of policy.
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Vitality over 50s life insurance
There's a need for life insurance at any age, even if your mortgage is paid off and your children are grown up. Taking out an over 50's life insurance policy can help with things like funeral expenses, a lump sum for your family or even a charitable donation. There are needLife insurance policies for over 50s and seniors. Unlike some over 50s insurers, you will need to inform Vitality about any medical conditions as part of your application.
Over 50's life insurance can start from as little as £5 per month, however this will depend on lifestyle factors such as smoker status, your health, age and the policy amount you want to be covered for.
LifestyleCare Cover provides protection if you’re unable to look after yourself due to a degenerative illness such as dementia, Parkinson’s, Alzheimer’s or stroke.
Why choose Vitality life insurance?
- Shared Value Model – Vitality’s incentive-based model to reward members for taking steps to be healthy. You can benefit from a number of rewards through Vitality’s many partners
- Cost effective insurance – if you lead a moderately active life you could end up saving more on your life insurance policy costs. The healthier you are, the lower your premiums will stay.
- Trusted brand – Vitality is a large brand that you can trust, with over 1,000 employees across three UK locations
- Rewards for staying active - Take advantage of gym memberships and spa breaks and coffee when you stay active with a Vitality life insurance policy
- Live with peace of mind - Vitality paid 99.8% of policies of all life cover claims in 2021 (Vitality claims report, 2022)
- Award winning life insurance - 5 star defaqto rated cover