Additional covers and options

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 reduction in 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.

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Why should you speak to your clients about Indexation?

The benefits for your clients

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. Our Indexation rules also provide more value to them in a lower inflation rate environment
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
When added to a plan with Wellness Optimiser or Vitality Optimiser, they can control their premiums and make savings by monitoring their health and getting fitter. They could therefore offset some of the cost of Indexation
For example, if a client with Wellness Optimiser reaches Select Wellness status, they'll receive a 1% annual premium discount, which could help offset the rise in their premium due to inflation.

Not just good for your clients

The benefits for you

Establish relationships with your clients with cover that could have a real impact on their lives
Not only does Indexation maintain the value of cover for your clients, it can also significantly increase the commission that you receive. By adding indexation, you could boost your commission to up to 45%.

Protecting your clients against inflation is as easy as 1, 2, 3

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Indexation is automatically offered at a discount.
Before policy anniversaries, we'll write to invite your clients to increase their cover.
If your client chooses 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.

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How the premium increases work

Published inflation	Premium increase	If aged over 80
0% and below	0%	0%
0% - 2%	RPI plus 1.5%	RPI plus 5%
2% - 8%	RPI plus 2.5%	RPI plus 5%
8% and above	RPI plus 3.5%	RPI plus 5%

Indexation increases are in line with the Retail Prices Index (RPI), where RPI is rounded up to the nearest 0.25% and capped at the maximum of 10%.

Where to next?

Whole of Life

Our Whole of Life provides your clients with affordable cover with no compromises

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Additional covers and options

Our additional covers and options that allow you to tailor your client's protection plan

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Wellness Optimiser

Rewarding your clients for understanding and improving their health

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