Vitality Life Insurance Review 2023

Vitality Life is a large insurance company with over 4.4 million clients, it came into being as the result of a merger between South African Discovery Holdings and the UK Prudential group.

It is a popular insurer because of its Vitality Optimiser Programme which offers rewards such as cinema tickets or fitness trackers as incentives to follow a healthy lifestyle.

The ethos of the provider is to keep you fit and healthy as the Vitality Optimiser also gives discounts on your premium depending on how active you are.

Vitality Life Insurance

The Life Insurance product comes with options to vary the term you insure for and to personalize the level of cover you choose.

Decreasing Cover

There is an option to decrease cover, which means that you could take falling outgoings into account when buying your life insurance.

An example might be your mortgage being paid off over time, or your children leaving home and becoming independent.

Indexed Cover

You might prefer to take out indexed cover which means that the amount of cover rises in line with inflation.

Indexed cover tends to be a popular option when you are taking out long term cover, if you begin cover when your family is young, inflation may have decreased the benefit in real terms by the time it is needed.

Fixed Cover

The cover amount you decide on remains the same for the whole term that you chose

You are responsible for selecting the term over which to insure and the amount of cover you feel is appropriate.

Vitality Life allows you to take out cover if you are between 17 and 75 at the start of the policy and all policies will come to an end when you reach 90.

As with the life cover of other providers Vitality Life’s policy gives a payout to your chosen beneficiary if you pass away within the period of cover which will help them cope financially after your death.

Vitality Whole of Life Insurance Cover

There is an option with Vitality Life to insure for the ‘whole of life’ as opposed to fixing the term that insurance will be in place to 10 or 20 years.

The whole of life cover means that whenever you die, as long as you are still paying the premiums, your beneficiaries will still receive a lump sum.

This is a popular option for people who may not have large outgoings to cover in the future, such as a salary to replace, but who would like to ensure their family has enough to for one-off expenses such as funeral bills.

Vitality Mortgage Life Insurance

We compare plans from the leading life insurance providers Compare quotes now

Mortgage life insurance is also an option with Vitality Life, this is set up to ensure that in the event of something happening to the main breadwinner, the mortgage can still be paid. With Vitality Life it is organised in two ways:

Mortgage Incapacity Cover

Taking out this cover means that your monthly mortgage payments would be covered if you were too ill to work.

Mortgage Life Cover

Your mortgage would be paid off as a lump sum in the event of your death.

Vitality Income Protection Cover

A final useful layer of financial protection is the Income Protection Cover, this product is designed to provide a regular sum to your family if you are unable to work because of an accident or illness.

Serious Illness Cover

A real strong point of Vitality is it’s Serious Illness cover, in fact, if you add it to the life insurance policy you take out then you will receive cover for a whole host of illness that aren’t covered by rival insurers. Vitality Live covers around 170 conditions compared to the 50 condition average that other providers cover.

Serious Illness Cover will pay out a lump sum if you are diagnosed with one of the serious illnesses listed in the policy.

The lump sum is scaled so that the most serious illnesses receive the highest payout amounts with less being paid for more minor conditions.

A benefit of using this provider is that you can claim multiple times for serious illnesses.

Vitality believes that as we are living longer financial cover should reflect this.

The enormous benefit of taking out this cover is that your family will have a large sum available with which to deal with unforeseen expenses or simply to take the pressure off and care for you.

Arranging Your Cover

Once you have selected the policies you would like to take out you can then decide on whether you would like to add the Vitality Optimiser.

The Optimiser gives an immediate discount and a further ability to control their premiums by living healthily. The idea is that you earn Vitality points by logging on an app the number of steps you have walked or units of alcohol drunk.

Through the points, you gain a Vitality status designed to show how much you are engaging with and improving your own health if you log a good diet and plenty of exercises you are rewarded with lower premiums.

Bear in mind though that if you don’t demonstrate that you are being as healthy as possible you premiums could rise by up to 2%.

Why Use Vitality Life?

Vitality Life is certainly an innovative insurer for the right kind of customer.

If you are keen to keep your premiums low by keeping fit and healthy it well worth looking at this 5-star defaqto provider.

Defaqto ratings