Shopping for Personal Protection Insurance can be a daunting but vital task. Vitality is an award-winning brand with 5* Defaqto rating, which means that they provide an ‘excellent product with a comprehensive range of features and benefits’.
When you compare Vitality’s, Protection Cover products and additional Rewards Benefits with other leading brands, you can clearly see why many people are choosing Vitality as their preferred insurance provider. Here are the awards to prove it.
Whilst insuring ourselves against an undesirable event such as sickness or even death may not be a pleasant thing to think and talk about, the benefit of being able to set financial issues aside at emotionally difficult times cannot be overlooked.
The team here at Positive Lifestyle Rewards work very closely with Vitality and we will connect you with one of our qualified insurance adviser’s so that you can have a relaxed and informative chat, ensuring that your individual and family requirements are covered before we provide you with any quotations. There is no obligation to take out a policy with us, we would just like to ensure that you receive 1st class advice so that you can make an informed decision on an insurance provider that will offer you what you need.
Vitality Life Cover
VitalityLife provides award winning life, serious illness and income protection insurance alongside VitalityHealth. You are helped and rewarded to live a healthy life with the warranty of great insurance to protect you and your family if you die or become seriously ill.
There are 3 main types of cover and then all sorts of permutations that allow you to create a bespoke policy that is perfect for you:
Pays out if you die either as a lump sum or a monthly amount. Can be provided as term cover (for a specified period of time such as until you retire, pay off mortgage or children leave home) or as whole of life cover to leave a legacy or pay the inheritance tax bill.
There are several ways in which to protect yourself and your family in the event of an untimely death.
Most people take out life assurance to provide for their families and loved ones and alleviate any financial worries at a difficult time.
Level Term Assurance pays a lump sum in the event of death during the term of the policy. There is no investment element within a term assurance contract so at the end of the term there is no maturity value and life cover ends. The benefit is paid tax free and premiums are usually monthly, and fixed throughout the term. Because the term and benefit are known from the outset, and there is no investment content, term assurance can be a cost-effective method of protection.
Decreasing Term Assurance works similar to Level Term Assurance, but the benefit is set at outset and gradually decreases over the term of the policy. These policies can be used as a cover for a repayment mortgage, or other loans where the amount of capital outstanding also decreases over time. Because the benefit reduces over time, the premiums are usually lower than for Level Term Assurance.
Family Income Benefit works the same as term assurance but instead of paying out a lump sum upon death, it will usually pay a regular monthly/annual tax-free income in the event of death to your dependants up until the end of the term of the policy.
Critical Illness Insurance is usually available as an addition to all term assurance plans but can be bought on a stand-alone basis. Critical illness provides a lump sum benefit / income in the event of diagnosis of certain critical illnesses, such as Heart Attack, Stroke, Transplant, Blindness, Total & Permanent Disability and so on. The illnesses covered will be specified in the policy along with any exclusions and limitations – theses differ between insurers.
Again, VitalityLife have a great comprehensive income protection product that will pay a monthly tax-free income for a chosen duration of time after you have been ill and unable to do your job for a certain period. You can use this regular income to help pay your bills, mortgage or medical costs. If you are in employment, your employer will only pay you statutory sick pay for a short period of time, but this may run out whilst you are still recovering. If you are self-employed, income protection cover will also give you peace of mind that you will have an income. If you can’t go back to work, Vitality will pay you an income for the rest of your policy term.
This policy is designed to provide an income in the event the insured individual is unable to work due to ill health. The level of premium will depend upon the amount of benefit and term selected and most policies cease to pay the benefit once the insured is able to return to work. Income Protection policies are usually written to retirement age or 60 if earlier.
Accident, Sickness & Unemployment (ASU)
ASU policies were traditionally sold to accompany mortgages, allowing for a regular income to be paid to the insured should they be unable to work due to ill health, an accident (or lose their job). The product can be split down, and unemployment cover is usually the optional extra available for an additional premium. Benefits are only usually paid for a specifies time for example 12 months. It is important to compare ASU and Income Protection closely as one pay be more suitable than the other. It may also be possible to use the 2 products to work in tandem with each other.
The longer the 'deferral' period you choose, the lower your premiums. The default deferral period tends to be 13 or 26 weeks. When the payments start.
Guaranteed premiums: The amount you pay stays the same throughout the policy term. The premium will only go up if you increase the cover.
Reviewable: These policies tend start a little cheaper than Guaranteed policies, but the premiums are reviewed after a set period - at which point the provider can increase the amount.
Serious Illness Cover
Critical illness can strike at any time. 1 in 2 people in the UK will develop some form of cancer during their lives (1), every 7 minutes someone will have a heart attack and every 12 minutes someone will have a stroke (2).
Serious illness cover is unique to VitalityLife and pays out a variable lump sum depending on the severity of the problem. Payments can be from just 5% to 200% of your sum insured. We can help you with various options for you to bespoke your cover, adding your children, boosting your cover, optimising, guaranteeing your cover etc, all of which mean you want to talk to one of our expert advisers.
VitalityLife serious illness cover is recognised as being the most comprehensive ‘critical illness’ cover in the market and helps to protect you financially if you fall ill with one of the 178 conditions they cover. Vitality pay you out a cash lump sum based on the severity of your condition – meaning that you can focus all your energies on making a full recovery. This means that if a condition gets caught early on, you get paid out on a proportion to alleviate the stress, but you’ll also have the rest of your cover should you need to claim again and again.
Cancer Relapse Benefit
On Comprehensive Cover, Cancer Relapse Benefit is automatically included and covers you should you suffer a cancer recurrence. With Cancer Relapse Benefit you can claim for a recurrence of cancer at the same or lower severity to the first cancer claim*.
Subsequent cancers can often be more aggressive and the treatment options limited, so Cancer Relapse Benefit will boost the payout for subsequent cancers by 50% following one year in remission**. This 50% payout is an additional payout so won't reduce the Plan Account in any way, giving you even more protection.
*Payouts for subsequent cancer under Cancer Relapse Benefit are limited to those at Severity levels A to C and the ABI definition of cancer at Severity level D
**Limited to two 50% boosts per policy
A mortgage is one of the largest financial commitments you’ll ever make. If something were to happen to you, how would you and your family cope? To help keep the roof over your head, Vitality have created two types of mortgage protection cover under their flexible and comprehensive Mortgage Plus Plan.
Mortgage Plus Plan includes both Mortgage Incapacity Cover and Mortgage Life Cover. Mortgage Incapacity Cover gives you up to 24 monthly payments, if you get injured or become ill with one of the conditions we cover and can’t work. Alternatively, Mortgage Life Cover pays off your mortgage if you die.
If you couldn’t work – with the inevitable strain that would put on your savings – knowing your biggest monthly bill is covered can help ease the financial pressure and stress of illness.
Optional Extra's 1&2
Serious Illness Cover Booster
Serious Illness Cover Booster gives you everything that a typical critical illness policy does and more. Benefit from 100% payments for all of the key conditions, plus payments of up to 200% for other long-term debilitating illnesses. You'll also receive our award-winning cover for early stage and less severe illnesses where we'll pay out part of your cover amount, and keep on covering you for the remaining amount.
Cover for early stage illnesses
We recognise medical advances mean that conditions are increasingly being diagnosed and treated earlier, but they often still have an impact on your life. With Serious Illness Cover Booster, you'll benefit from cover for a long list of early stage conditions, many of which are unique to our Comprehensive Serious Illness Cover.
100% payment for key conditions
Get at least a 100% payout for all conditions typically covered by a critical illness policy. We recognise that the certainty of a 100% payout is important for some people who want to be able to pay off their mortgage if they get a certain type of illness.
Boosted payments for long-term illnesses
If you are diagnosed with a defined long-term debilitating disease, we'll boost your payout from 100% up to 200% depending on your age at the time of their claim. This recognises that the younger you are diagnosed with a long term illness, like motor neurone disease or blindness, the longer you have to live with it and the greater the financial impact.
Optional Extra's 3&4
By opting for Protected Cover, you can protect you and your dependants against the financial consequences of serious illnesses should you need to claim more than once. It fully reinstates your cover to its original amount after you've made a claim.
Top up your cover after you've made a claim
You can choose from the following Protected Cover Options:
1. Protected Life Cover
Allows you to protect your Life Cover in the event of Serious Illness Cover claim.
2. Protected Life and Serious Illness Cover
Allows you to protect your Life Cover and Serious Illness Cover in the event of a Serious Illness Cover claim. Meaning you can claim an unlimited number of times under your Serious Illness Cover, up to three times the original amount (maximum £3 million). And you will still be able to receive a further payout for Life Cover.
So your cover would continue, and will be topped up following a claim. Your premium won’t increase, there will be no further underwriting and no additional exclusions.
Protected Cover can be added to your policy at any time before you make a claim.
Optional Serious Illness Cover for Children
Additional peace of mind for parents
Serious Illness Cover
Optional Extra's 1&2
Optional Extra's 3&4
Vitality Health Cover
PEOPLE VALUE GOOD HEALTH.
However, good health can’t be guaranteed – for example, 1 in 2 people will suffer from cancer at some point during their lives(1).
Private Medical Insurance – or PMI – is a great way to help protect good health. It gives clients fast, stress-free access to high-quality medical facilities and the very latest treatments, at a time and place that suits them.
It also plays an equally important role in helping fund the cost of early diagnosis and treatment of acute conditions – anything from a few sessions of physiotherapy to complex major heart surgery or the latest in chemotherapy treatments for cancer.
Products such as life insurance, serious illness cover and income protection can help cover the longer-term financial impact of a health event. But only PMI addresses the immediate need for consultation, diagnosis, treatment and recovery quickly and cost-effectively.
VitalityHealth makes it easy to get fast access to high quality care, with rewards for getting active.
Extended Cancer Cover
GP Video Consultations
Online Health Management
Holidays or Short Breaks
Shop for Healthy Food
Partners & Rewards
Vitality Activity Tracking
Mr & Mrs Smith
Vitality’s key benefits
No waiting lists
Private healthcare removes the uncertainty of NHS waiting lists, by allowing you access to the very best in medical care, at a time and place that suits you.
Fast diagnostic tests
With waiting times being a prime source of anxiety in many health events, private healthcare offers you the reassurance of a quick and full diagnosis.
Choice of hospital
PMI offers easy access to hundreds of private hospitals in the UK, as well as the freedom for you to choose where and when you are treated.
Drugs & Treatment
Private healthcare can provide access to a wider range of drugs and treatment, including those which might not yet be approved for use or paid for by the NHS.
Choice of consultant
Private healthcare gives you the freedom to choose a consultant who will see you consistently throughout your course of treatment.
Private healthcare provides you with the comfort and privacy of your own room – eliminating concerns about shared wards.
Private healthcare also offers access to a nationwide network of private hospitals, all with extremely high standards of hygiene and patient care.
(1) Cancer Research UK, 2015
(2) Heart UK, 2016
Positive Lifestyle Rewards Ltd is an appointed representative of HL Partnership Limited which is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales, Registration Number: 9677713, Registered Address: Amelia House, Crescent Road, Worthing, West Sussex, BN11 1QR. Positive lifestyle Rewards Ltd is an Exclusive Associate of Vitality Life and Health and do not form part of the same group as Vitality Life and Health. The information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK.