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Vitality

Additional covers and options 

Indexation

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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.
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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
  • 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. 

Not just good for your clients

The benefits for you

  • 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 in 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.

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

Try our Premium Comparison tool to compare the cost on our Term and Whole of Life Plans 

  • number one

    Indexation is automatically offered at a discount.

  • number two

    Before plan 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.

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?

  • Additional Cover

    Explore our additional cover options that allow you to tailor your clients' protection plans.

  • Personal Protection

    With our Personal Protection, we offer your clients the best cover to suit their needs, such as our award-winning Serious Illness Cover.

  • Plans

    Compare our two plan types to suit different client needs: our VitalityLife Essentials Plan and VitalityLife Plan.

  • Trusts and Tax

    Learn how your clients can benefit from setting up trusts with us.

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