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Life insurance


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 Claims and Benefits Report 2023

Find out how we supported clients in 2022 through market-leading protection cover and health and wellbeing benefits.

With the ongoing economic challenges highlighting the need for better financial resilience, it’s never been more important for advisers to be discussing protection insurance with their clients.

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.

How the premium increases work

Our premium increases have been structured so that at high levels of indexation, where clients may be more likely to decline the increase, our increases are more affordable – making us unique in the market to other insurers.

Our 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%.

Published inflation Premium increase If aged over 60
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%

“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

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