Vitality Life Insurance
Discussion
I've realised i've reached the point in life that I need some protection.
Quote for vitality seem relatively competitive and the coverage for conditions for criticial/serious illness appear better than most.
However, that quote is based on activity tracking to maintain the premium, otherwise it can increase slightly. While i'm relatively active at the moment, I worry this is a bit of a gimmick and also provides them with a lot of data. Does anyone have a policy with them that tracks activity, and how do you find it?
Quote for vitality seem relatively competitive and the coverage for conditions for criticial/serious illness appear better than most.
However, that quote is based on activity tracking to maintain the premium, otherwise it can increase slightly. While i'm relatively active at the moment, I worry this is a bit of a gimmick and also provides them with a lot of data. Does anyone have a policy with them that tracks activity, and how do you find it?
We are life insurance brokers and although I do have vitality private medical cover, I don’t have vitality life cover as there are so many many better alternative options where you don’t have to track your activity to keep your premiums down.
We run a Ph discount deal so drop me a pm if you’d like some impartial advice.
We run a Ph discount deal so drop me a pm if you’d like some impartial advice.
We used an advisor and ended up with vitality a few years ago. I found the activity tracking pretty good encouragement and the extra offers were worth quite a lot. They did points for things like getting health checks. They also covered way more conditions than a lot of other policies at the time. We had cover sorted by mortgage advisor before that cost twice as much and was crap coverage in comparison.
Went back through same IFA this year and he moved us to another provider, so guess others upped their game.
Went back through same IFA this year and he moved us to another provider, so guess others upped their game.
Vitality have always boasted a huge illness coverage but the issue is that most of those listed rarely occur. The highest claim areas are cancer, heart attack, stroke, MS, and then sadly children’s critical illness cover, and all critical illness plans cover these.
All critical illness cover can be compared between providers apart from Vitality as their cover can’t be classed as critical illness cover.
Unless you buy an optimiser with Vitality the serious illness cover gets paid in 25% increments, so as an illness gets worse you get more money. Critical illness just pays the lump sum for serious conditions which is far better to receive the money as one to repay a mortgage, retire etc.
We’re not anti Vitality but you certainly need to go into it eyes wide open and fully informed.
All critical illness cover can be compared between providers apart from Vitality as their cover can’t be classed as critical illness cover.
Unless you buy an optimiser with Vitality the serious illness cover gets paid in 25% increments, so as an illness gets worse you get more money. Critical illness just pays the lump sum for serious conditions which is far better to receive the money as one to repay a mortgage, retire etc.
We’re not anti Vitality but you certainly need to go into it eyes wide open and fully informed.
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