Vitality | Relevant Life Policy

Vitality offers a comprehensive relevant life policy designed to provide significant coverage for employees. Below are the key details of the policy:

Feature Details
Minimum Cover There is no minimum amount of coverage required. Driven by minimum premium.
Maximum Cover The cover must end by your 75th birthday
Type of Cover The following types of cover are available:

  • A guaranteed premium is one that remains consistent throughout the term of your cover, except for any changes based on your decisions. These options include adjusting your coverage amount or term, selecting indexed coverage, or opting for Vitality Optimizer.
  • For policies with reviewable premiums, they will be periodically assessed for potential adjustments. When evaluating your premiums, they consider them based on emerging claims experience. Individual circumstances, such as the health of the person covered, are not taken into account.
  • For indexed premiums, the increase in your sum assured is tied to the Retail Prices Index (RPI) rounded to the nearest 0.25%.
Minimum Term 1 year
Maximum Term 50 years
Minimum Age 16
Maximum Age 73
Premiums Guaranteed
Plan premiums can be paid either monthly or annually, in advance. The payment frequency selected is displayed in your Plan Schedule.
If you choose the monthly option, your plan premiums will be paid via direct debit.
Premium payments for the annually selected plan can be made through direct debit, Electronic Fund Transfer (EFT), or Telegraphic Transfers (TT).
Changing Your Policy The VitalityLife Relevant Life Policy is designed with flexibility in mind. After setting up a plan, you have the flexibility to adjust your cover by increasing, reducing, or changing the fixed term. You can also remove Vitality Optimizer or adjust the fixed term of your covers.
Keep in mind that any changes to your cover will result in a change to your premium. The change in your premium may not correspond directly to the changes made to your cover.
Changes to your premium may be based on the age of the person covered at the time the change is made.
When adding or increasing covers, new medical evidence is typically required.
Additional Benefits The healthy living program offers discounts and rewards throughout the duration of your membership.