About Vitality
Vitality Life is a UK-based company founded in 2007 (then known as PruProtect, but rebranded as VitalityLife in 2014) which specialises in selling life insurance to individuals and families in the UK. Its sister brand, Vitality Health, specialises in doing the same for private medical insurance. They’re both owned by South African financial services company, Discovery Limited. Vitality Life's mission is 'to make people healthier and to enhance and protect their lives'.
Vitality life insurance policy features
If you buy life insurance through Vitality, some policies may come with the following features:
| Guaranteed premiums | The amount you pay every month in life insurance premiums is guaranteed to stay the same for as long as you hold the policy. |
|---|---|
| Reinstatement | If you accidentally miss a monthly insurance payment and your life insurance policy gets cancelled, you can reinstate it without having to apply again – as long as you do so within a set period of time. This is a good thing because it means you won’t have to go through medical underwriting again (which could lead to your policy being more expensive). |
| Waiver of premium | Most life insurance policies come with this handy add-on that means you won't be required to pay your monthly premiums if you're off work for medical reasons. You usually need to be off for a certain amount of time before you can claim this benefit. |
You also have the option of adding Wellness Optimiser or Vitality Optimiser to your policy plan to get access to discounts, rewards and cashback. These would be paid-for, ‘non-contractual’ benefits, meaning they’re not related to contractual conditions of your own policy. Bear in mind that these could be subject to change in the future.
Vitality life insurance claim payout rate
| Year | % of Vitality life insurance claims paid |
|---|---|
| 2016 | 99% |
| 2018 | 99.8% |
| 2020 | 99.6% |
Source: Vitality
Vitality pays out almost all life insurance claims. Any claims not paid are usually due to meeting policy exclusions – i.e. the cause of death being suicide within the first 12 months of taking out the policy.
Vitality life insurance prices
The following prices are based on:
- Healthy 25-year old male or female
- £150,000 of level life insurance cover
| Term | Non-smoker | Smoker |
|---|---|---|
| 10 years | £8 | £8 |
| 20 years | £8 | £8 |
| 30 years | £8 | £9.80 |
- Healthy 25-year old male or female
- £250,000 of level life insurance cover
| Term | Non-smoker | Smoker |
|---|---|---|
| 10 years | £8 | £10.80 |
| 20 years | £8 | £11.50 |
| 30 years | £8.90 | £14.30 |
- Healthy 35-year old male or female
- £150,000 of level life insurance cover
| Term | Non-smoker | Smoker |
|---|---|---|
| 10 years | £8 | £12.10 |
| 20 years | £8.50 | £14.50 |
| 30 years | £10.40 | £19.70 |
- Healthy 35-year old male or female
- £250,000 of level life insurance cover
| Term | Non-smoker | Smoker |
|---|---|---|
| 10 years | £10.80 | £18.20 |
| 20 years | £12.20 | £22 |
| 30 years | £15.40 | £30.50 |
Quoted on 14/02/2020
Can I cancel my Vitality life insurance?
Like any life insurance policy, you should be able to cancel your Vitality life cover if you need to by contacting the insurer directly. If you do it within the first 30 days of taking it out, you'll be refunded your first monthly premium as you're still in the cooling-off period. If you cancel it later than that, you're unlikely to be refunded any of the premiums you've paid so far. Before making any decisions, read our guide to cancelling life insurance.
Is Vitality life insurance right for you?
Choosing which policy and insurer to go for when buying life insurance takes time. There's lots to consider and compare. But protecting your family financially in case the worst happens to you should never be about guesswork.
This is why we created Anorak. We're an independent online broker for life insurance, which means we're here to help you make truly informed decisions when buying cover. We provide regulated advice and help you choose which insurer to go for based on your unique circumstances – so you have peace of mind you're choosing the right one (especially if the most suitable insurer for you is actually one you haven't used before).
Use Anorak's online tool or talk to one of our advisers over the phone to get:
- Free advice about your life insurance needs
- Helping choose the right policy and insurer
- Peace of mind that you're making informed decisions
Is Vitality worth the money?
What benefits do I get with Vitality?
Can I cancel Vitality life insurance?
Does Vitality pay out?
