Who Owns Vitality Life Insurance?

First, it’s essential to understand who Vitality is/what they’re aiming to do as a company.

The most notable thing about this South African-owned company is their rewards programme. Underlying all their insurance policies, this encourages and even rewards you for living a healthier life. That’s a pretty unique stance for an insurer, and it’s one that’s led to a host of glowing Vitality life insurance reviews.

Effectively, Vitality works off a shared value model made possible by their partners and rewards, which include discounts at hotels through Mr & Mrs. Smith and Virgin Active gym discounts, to name a few.

They offer both term life insurance and whole life insurance policies and mostly claim to provide more comprehensive packages than many providers elsewhere. You can compare life insurance quotes here and see how our quotes a the best!

Vitality life insurance Reviews Are GOOD!

Vitality life insurance reviews are in general pretty good. They are Defaqto 5-star rated from the off, and those shared value models we discussed above mean that Vitality goes as far as claiming that they can save you £730 a year here.

So far, so good, but, ultimately, we aren’t here to discuss those extra bonuses, so let’s discuss the quality of this policy itself.

Ultimately, Vitality offers four different policy types, which can be purchased on either a one-time basis or as part of an insurance package. They are -

• Life cover: Available on a term or whole life basis, this basic policy offers a guaranteed lump sum cash payment in the event of your death.
• Serious illness cover: We’ll look further into this cover next but, primarily, this plan offers a lump sum payment if you receive a life-changing diagnosis for both severe and non-threatening illnesses.
• Mortgage protection cover: Ensures mortgage payments if you die/are unable to work or complete your payment terms due to illness.
• Income protection cover: Ensures your monthly income if you’re unable to work

As with the majority of providers, premiums on these packages depend on everything from your age, height, and risk, but packages can begin as low as £9.75 per month with structures available, including level cover, indexed cover, and decreasing cover.

How Much Is Vitality Life Insurance?

The cost of life insurance with Vitality really comes down to a few things:

• How old is the life assured?
• How much cover are you looking to take out?
• Over what term are you looking to take out he cover?
• Do you have any health issues?

Vitality offer quite a few variations of life cover so it also depends on which product you decide to go with. Their low start optimized products offer a discount at the front end. But its then on your shoulders to make sure you keep healthy and report in to Vitality so they can track your health. The healthier you are the cheaper your premiums will be.

Vitality serious illness cover

Vitality does not offer a critical illness policy but has replaced this with a supposedly more comprehensive plan, which they call serious illness cover. The obvious benefit here is that this policy covers not only critical conditions but also non-threatening yet equally disruptive diagnoses. This leads to coverage of 182 conditions in total, which Vitality claims is more than any other replica policy.

To further justify the 5* rating that this policy has also earned, Vitality offers payments even at the beginning stages of a condition/treatment journey, a fact that significantly contributes to the average £20 million payouts from this plan annually. Further, it’s possible to boost that initial plan for payments of up to 200% for long-term debilitating conditions. Vitality even goes as far as allowing you to add children to your policy for coverage that comes anywhere between £20,000 and £100,000.

What do their customers say?

Of course, you can never truly understand how worth your while a policy will prove until you’ve considered consumer reviews surrounding it. Luckily for Vitality, their 1,000,000+ members offer favourable reviews indeed, with five-star ratings given pretty much across their insurance board. Of course, that’s hardly surprising given their unique focus on reward-led policies complete with comprehensive coverage. Still, the flexible and expansive plans on offer also seem to win people around to their cause. Do note, though, that many consumers report trouble with actually contacting the customer services department when difficulties arise.

In conclusion

Vitality is an interesting provider, and their life insurance and serious illness policies are certainly worth your while if you’re seeking plans that pay now, as well as in the future. Just think about whether those rewards would suit your needs/location, and whether a sometimes unreachable customer services department would be a significant issue for you.