Indexation
Get your client a discount on their premium when they buy life insurance with Indexation.
Why Indexation?
Indexation enables your clients cover to increase each year with no further underwriting. With Indexation, their cover is protected against rises in the cost of living, making sure they have the cover they need now and in the future.
Inflation means a rise in the costs of living, which will reduce the value of cover over time. If inflation returns to the 10 year average for Retail Prices Index - at around 3% - it will mean that £100,000 of cover will be worth almost half that in 20 years' time, when measured in today’s prices.
The benefits for you clients
Why should you speak to your clients about indexation?
- At the point of claim, your client’s benefits have the same value in real terms
- We're making indexed cover more affordable by providing an upfront discount on indexed plans
- We’ve made our Indexation as flexible as possible. Your client can decline increases in cover at any time but we do ask that they accept at least one increase in cover every three years. After three consecutive declines, Indexation is removed and their benefit converts to level.
The benefits for you
Indexation isn't just good for your clients.
- At the point of claim, your client's benefits have the same value in real terms, preventing inflation from eroding the value of their cover
- Even if your client suffers an illness that would prevent them buying more cover elsewhere, their cover will continue to increase each year under Indexation
- Our Indexation is flexible, giving your clients the choice to decline increases. They can decline up to two increases in a row. Only after three consecutive declines will we remove Indexation and convert their benefit to level
- Not only does Indexation maintain the value of cover for your clients, it can also increase the commission that you receive
Explore our 2024 Claims and Benefits Report
Our results demonstrate how our products cater to modern risks, provide immediate value and engage members, creating a new category of insurance.
As we continue to enhance and protect lives, discover how we supported our members throughout 2023.
Protecting your clients against inflation
As easy as 1, 2, 3.
Indexation is automatically offered at a discount.
Before plan anniversaries, we’ll write to invite your clients to increase their cover.
If they choose to increase their cover, they don't need to do anything. We'll increase their cover and premium from their anniversary. If they don't want the increase, they just need to let us know.
Try our Premium Comparison tool to compare the cost on our Team and Whole of Life Plans.
“If protection advice is to remain relevant over the long term, then indexation must surely be a serious consideration in every conversation where level cover is being discussed.”
- Nick Telfer, Head of Protection Specialists, VitalityLife
