Discounts on your Premium

When you take out a VitalityLife or VitalityLife Essentials plan with Vitality Optimiser, you get an upfront discount on your protection premium. So, you pay less than our standard protection premium in your first year. You can keep your protection premiums low in future years if you look after your health. With enough effort, you could even reduce your protection premiums further.

Here's how it works:

1. Pay lower protection premiums for your first year compared to our standard protection premium

When you take out a VitalityLife or VitalityLife Essentials plan with Vitality Optimiser, you get an upfront discount on your protection premium. So, you pay less than our standard protection premium in your first year.

If you want your plan to last a fixed number of years, the size of the discount depends on how long you want to be covered for. If you want your plan to cover the whole of your life, the size of your discount depends on how old you are when you take the cover out.

The tables below show the upfront discount you would get.

Upfront protection premium discount with fixed terms cover:

How long you're covered for (years)	Your upfront discount
5	5%
10	7.5%
15	15%
20	17.5%
25	20%
30	22.5%
35	25%
40	25%

Upfront protection premium discount with Whole Life Cover:

Age next birthday when you take out the policy	Your upfront discount
45 or younger	47%
50	43%
55	38%
60	34%
65	30%
70	25%
75	25%

The discount only applies to your protection premium, not the fee you pay for rewards and cashback.

If two people are covered on your Whole Life policy, we work out the discount on your protection premiums individually, using each person's age. We then add both these premiums together to make one monthly payment

2. Keep your protection premiums low in future years if you look after your health

You can keep your protection premiums low beyond your first year by doing healthy things. With enough effort, you could even reduce your protection premiums further.

How improving your Vitality status can keep your protection premiums down

Each year, we'll look at your Vitality status. Depending on which status you've reached, we'll increase your protection premium, decrease it, or leave it the same. Only your protection premium will be affected, not the fee you pay for rewards and cashback.

Here's how your status affects your protection premiums.

Bronze	Silver	Gold	Platinum
Your protection premiums go up by 2% each year	Your protection premiums go up by 1% each year	No increase to your protectio premiums	Your protection premiums go down by 1% each year

Although your protection premiums go up if you stay on Bronze, you still benefit from lower protection premiums in the early years of your plan. That's because you pay less than our standard premium to begin with. But over a number of years, your protection premiums will be higher. Overall you may pay more than if you'd chosen our standard premium.

Use our calculator to estimate the number of points you could earn each year

Protect your cover against inflation

If you choose to protect your cover against inflation, it increases every year in line with rises in the cost of living. Your premiums go up to reflect this extra cover. This means that even if you reach Gold or Platinum status, your protection premiums could still go up.

Premium discounts if you haven't added Vitality Optimiser

If you haven’t chosen Vitality Optimiser, you still get the chance to reduce your premiums every year with our VitalityLife Plan. The more you do to improve your health with Vitality, the bigger the premium discounts become.

1. At the end of every year, we look at your Vitality status. If it’s gone up, we give you a premium discount

If you’ve reached Silver, Gold or Platinum Vitality status, then we’ll give you a discount on your premium which you keep until the end of your plan – even if you don’t maintain that Vitality status in future years. These are the discounts you can earn:

Vitality status	Premium Discount
Bronze	0%
Silver	1%
Gold	1.5%
Platinum	3%

If you’ve chosen to add Vitality Optimiser or Vitality Plus to your plan, these premium discounts won’t apply to the extra fee you pay for these options.

2. You can get another premium discount the next year, and every year until your plan ends.

At the end of every year, we’ll look at your Vitality status again. If you’ve reached Silver, Gold or Platinum, we’ll give you another premium discount. These discounts keep adding up. And once you’ve earned a premium discount, you keep it until the end of your plan.

By the time your plan ends, you could be paying half what you were paying at the start.

Here’s an example based on a male, non-smoker with a 25-year plan of £25,000 Life Cover and Serious Illness Cover, at guaranteed rates. We’ve assumed that he gets the same Vitality status every year, throughout the whole plan.

		Monthly premium
	Year	Bronze	Silver	Gold	Platinum
Start of plan	1	£37.65	£37.65	£37.65	£37.65
	10	£37.65	£34.39	£31.39	£28.62
	20	£37.65	£31.11	£25.65	£21.11
End of plan	25	£37.65	£29.58	£23.18	£18.13

3. Once you reach 80, we will halve the points needed to control your premiums

We recognise the fact that engaging in your health can be more difficult as you get older, so once you reach 80, we’ll ensure you can maintain control of premiums by reducing the number of Vitality points required by 50%.

With our new clinical changes, you will be able to maintain your premiums by carrying out regular health check ups, eye tests and more. So you can ensure your premiums stay the same without having to exercise or get active.

Below is a breakdown of the new points structure that will be required for premium changes at 80 years and above:

Vitality status	Points required for customers 80 and below (Single policy only)	Points required for customers 80 and above (Single policy only)	Premium discount
Bronze	Up to 800	Up to 400	0%
Silver	800-1599	400 – < 800	1%
Gold	1600 - 2399	800 – < 1200	1.5%
Platinum	2400+	1200+	3%

The new points structure will only apply to life insurance premiums. You will still need to earn the usual points to reach your Vitality Status to unlock the accompanying rewards.

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