Vitality life insurance review

  • 5 star Defaqto rated
  • 99% of all life cover claims paid out
  • Cover for more health conditions than any other insurer
  • Large discounts available if you sign up to their fitness program

Vitality life insurance

Vitality life insurance

Vitality is part of a larger company called Discovery Holdings - a huge global insurance company which has over 4 million customers worldwide.

The company pioneered the practice of offering discounts on premiums for customers who promise to lead a healthy lifestyle.

In the UK, that means subscribing to their Wellness Optimiser program - which comes with an Apple Watch to track your fitness.

In terms of life insurance, Vitality offer term life insurance and whole life insurance, as well as serious illness covermortgage protection cover and income protection cover.

Vitality term life insurance

Term life insurance is cover you take out for a specific amount of time - and pays out if you die within the covered time period.

This is the most popular form of life insurance, as it is used to provide financial peace of mind for your family when they need it - i.e. to cover the term of your mortgage, or the period until the children have grown up and left school.

Vitality offer term life insurance from 5 - 70 years, with flexible options on how much cover you require.

Learn more about term life insurance.

Vitality whole of life insurance

As the name suggests, whole of life insurance covers you for your whole life - and pays out when you die.

This form of life cover tends to be more expensive, as you pay premiums for the rest of your life. However, it provides maximum peace of mind for your family and loved ones.

Vitality offers three different whole of life insurance plans, so you can pay for your cover in a way that suits you.

As well as their Traditional Whole of Life Insurance cover, you can choose from their:

  • Whole of Life Insurance with Premium Optimiser - which offers you an upfront discount and certainty of future price changes with an annual 2.5% fixed premium change
  • Whole of Life Insurance with Interest Rate Optimiser - which offers you an upfront discount and a variable annual premium change of between 1% and 2.75%, based on the Long Term Interest Rate, allowing you to benefit if interest rates rise in the future

Learn more about whole of life insurance.

Vitality serious illness cover

Similar to a critical illness policy, Vitality's 'Serious Illness Cover' is different as it also pays out for less severe illnesses.

Vitality will pay out a lump sum based on the severity of your condition, and cover as many as 178 different illnesses. This means you are nearly four times as likely to get a payout with Vitality than with a typical critical illness policy.

Learn more about critical illness cover.

Vitality mortgage protection cover

This product helps you to pay your mortgage if you get ill or die before it is paid off.

Vitality offers a comprehensive mortgage protection product, which allows you to add either income protection or serious illness cover to your life cover.

You can choose:

  • Decreasing cover - which goes down in line with your outstanding mortgage - so over time you pay less in premiums as you gradually pay off your mortgage.
  • Level term cover - which stays the same throughout the life of your policy
  • Indexed cover - which will increase each year in line with the inflation rate

Learn more about mortgage protection insurance.

Vitality income protection cover

Income protection insurance can pay you a monthly amount if you are unable to work due to illness or injury.

Vitality can start paying out within seven days of you being out of work, and will keep paying until you have recovered. They also offer you a 'back to work' cash bonus to help cover any extra costs when you return to work - e.g. travel, clothing etc.

Learn more about income protection insurance.