Vitality is the innovative health and life insurance business that enables people to understand more about their personal health, rewards them for healthy living and protects them when things go wrong.
The Shared-Value Insurance Model
Vitality pioneered the ‘shared-value’ insurance model, a unique approach based on the scientifically proven principles of behavioural economics. It helps members take a more active role in managing their own wellness, encouraging them to develop healthy long-term habits that are good for them, good for the company and good for society. Should they need to claim, Vitality members also have the reassurance of best-in-class cover, including medical care that offers a Full Cover Promise and serious illness protection covering nearly four times as many conditions as other providers.
Their shared value model is based on the concept of interventions they can make as an insurer that will inspire behavioural change among our members – for the better. It’s an incentive-based model, in which they reward members through a range of partners and benefits, when they take steps to be healthy. As market disruptors, they continue to transform the world of insurance. It’s refreshing to see these values play out in a scheme that genuinely focuses on helping to create a healthier society.
We know that society is increasingly demanding that companies have a strong social purpose, and by focusing on creating a healthier society, we are truly at the forefront of this. It’s good for our members, good for us and good for society.
Vitality are owned by leading South African health insurers, Discovery Holdings. The global insurance company have 4 million customers, and counting. They pioneered the concept of rewarding customers for healthy living and brought it to the UK as a joint venture with Prudential as PruHealth and PruProtect. In 2014 Discovery Limited purchased Prudential’s stake and the Vitality brand was born. VitalityLife and VitalityHealth burst onto the scene with their bright pink marketing campaigns and iconic Stanley the sausage dog. VitalityHealth is now one of the top 5 providers of PMI (private medical insurance)
What products does Vitality offer?
Vitality offer Life insurance, Health insurance (PMI), Business Protection and Income Protection.
Their Private Medical Insurance (also known as PMI or health insurance) is one of the most comprehensive on the market.
All plans start with core cover, which has a variety of benefits. They also include their wellness programme designed to help you look after your health.
|In-patient and day-patient treatment including hospital, specialist and diagnostic fees||Full Cancer Cover|
|Assistance at home||NHS Hospital Cash Benefit|
|Parent Accommodation||Childbirth Cash Benefit|
|Private Ambulance||Home Nursing|
|Oral Surgery||Pregnancy Complications|
|Physiotherapy cover||Private GP helpline|
As part of your core cover, Vitality offer Advanced Cancer Care. It not only covers if you are diagnosed with cancer, but also the full treatment as an in and day patient. It also includes the following;
|Radiotherapy, chemotherapy and follow-up consultations||Biological therapies|
|Hormone and bisphosphonate therapies||Cancer surgery and reconstructive surgery|
|Stem cell transplantation|
You can tailor your plan by picking any number of optional benefits, and premiums can be reduced with a range of excess levels and a choice of hospital lists.
You can choose other cover options to compliment your core cover and build a plan that suits your budget and needs. The list of optional extras include;
This refers to the cost to see your consultant as an out-patient
There’s 2 different types; routine or emergency dental cover
This covers MRI scans / CT scans / PET scans / blood tests and things of this nature
|Mental Health cover
Very comprehensive cover giving you access to Talking Therapy, CBT sessions and additional out-patient cover in a mental health hospital
Such as homeopathy and chiropractic treatment
|Worldwide travel cover
Covering you for in and day patient treatment overseas as well as cancellation to flights and other extras
As standard you also offer access to Vitality GP, a phone or video call by a GP within 48 hours.
Pre-existing conditions and how it affects my cover
Underwriting is used to work out the terms of your cover, what they can cover you for and how much your cover will cost. This just means looking at your age, your medical history and, if applicable, whether you’ve made any claims before. Any conditions they can’t cover are called personal medical exclusions. A personal medical exclusion is usually a pre-existing condition or symptom, or a previous illness. If they apply a personal medical exclusion to your cover, they will also exclude any related conditions. A related condition is any symptom, disease, illness or injury which reasonable medical opinion considers to be associated with another symptom, disease, illness or injury.
There are two main kinds of underwriting that you can choose from;
Full Medical Underwriting
– if you’re happy to be asked about your medical history, you can choose Full Medical Underwriting. FMU requires you to complete a medical application where you are asked about your medical history. This means that you may be able to get cover for a pre-existing medical condition that would normally be excluded using other methods, giving you the peace of mind that you will be able to undergo treatment for that condition. Even if your pre-existing medical condition is excluded from cover, you’ll know from the outset what you can and can’t claim for.
– if you don’t want to disclose your full medical history on application you can choose Moratorium Underwriting. They will review your medical history at the point of claim and tell you whether you’re covered. Conditions you’ve had in the five years prior to joining will be excluded until you’ve spent two years free of treatment, medication or advice for that condition. This means it’s easy to apply and you can be covered quicker than if you choose other types of underwriting.
How much does VitalityHealth Cost?
The average price of a health insurance premium £1,011.63 per year, £84.30 per month.
The above average was calculated using quotes given in January 2020 using an example client; 36-year old, male, non-smoker January 2020.
Private healthcare provides access and covers the costs of medical facilities and treatments, ensuring you have no delay in seeking medical treatment. It also plays an equally important role in helping fund the cost of early diagnosis and treatment of acute conditions. PMI offers; Fast access to private medical treatment, flexible cover to suit your needs, access to a wide range of hospitals, access to the latest drugs and treatment, choice of consultant, comfort and privacy at a time when you need it most.
They use and ‘ABC’ pricing at renewal – Age, Base Rate, Claims and Engagement. ABC pricing has been designed to offer fair, intuitive and transparent renewal pricing. It gives clients more clarity on how their renewal premium is calculated, and allows them to control their increase – simply by taking steps to improve their health.
Vitality is the only insurer to offer a way to reduce premiums upon renewal through their active rewards and points scheme.
How does Vitality rewards work?
Vitality are the market-leaders and the first insurers to offer incentivised premiums. Their ethos is based around improving your health and wellness. They do this via their points reward system.
The rewards are pick-me-ups to help boost motivation and include a weekly coffee, monthly cinema tickets, and discounts on well-known bands.
Once you’re a Vitality member, you take the online Health Review. This will give you a Vitality Age – a scientific calculation to help you understand your health.
From there you track your activities which gets you Vitality activity points. These unlock different levels of discounts and can help reduce your premiums.
Vitality reward partners currently include;
Amazon Prime, Apple Watch, Caffe Nero, Champneys Spas, Odeon & Vue cinemas, Expedia, FitBit, Garmin, Headspace, Mr & Mrs Smith, Polar, Rakuten TV, Runners Need, Samsung, Waitrose & Partners, Withings, Weight Watchers.
Discounted gym memberships – David Lloyd, Virgin Active, Nuffield Health
How does Vitality points work?
All adults can earn 3 points for reaching 7,000 steps, 5 points for reaching 10,000 steps and 8 points for reaching 12,500 steps per day.
You can also earn 8 points for working out at 70% of their age related maximum heart rate for a continuous period of 30 minutes.
There are lots of ways to earn points, some active and some through taking health checks.
Who should consider Vitality cover?
If you enjoy an active lifestyle Vitality is definitely for you. It encourages you to be active and take regular health checks and screenings. If you like the thought of being able to reduce your premium upon renewal then engaging with the Vitality programme will be great for you. The level of cover they offer is also definitely one of, if not, the best on the market.
What wouldn’t be covered/paid out?
Unlike other insurers, Vitality offer a full cover promise. What that means is, if you are having a treatment recommended by your consultant that is more than the agreed rate (typical for that treatment / surgery), Vitality will ensure that you do not suffer the shortfall, giving you full cover. With other insurers, if there is a dispute about the costing of a treatment / surgery, the shortfall is typically passed on to the claimant. Vitality’s full cover promise, promises this shortfall won’t fall to you.
Apart from the above, the only reason Vitality will not pay out for a claim is because of the following reasons;
- It is a pre-existing condition that invalidates the terms of your insurance
- You have exceeded the limit of your out-patient cover or you have not selected to have certain cover on your policy
- Under certain circumstances during the COVID-19 pandemic and needing to prioritise the NHS, all healthcare providers were not able to provide minor diagnostics and minor services for a short amount of time.