VitalityLife has launched an initiative to boost take-up of the indexation option on all protection policies as concern about inflation continues to grow.

The initiative will benefit both advisers and clients.  For advisers, VitalityLife is offering two months of free cover plus up to £225 additional cashback on all indexed policies when they take out their own indexed policy.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

It’s available on all indexed policies that come with Wellness Optimiser, Vitality Optimiser, Interest Rate Optimiser or Premium Rate Optimiser.

For clients, VitalityLife is offering up to two months of free cover – one month free in the first year and another month free if silver status or above is reached in the first year. It’s available on all indexed policies that come with Wellness Optimiser, Vitality Optimiser, Interest Rate Optimiser or Premium Rate Optimiser.

The UK’s inflation rate rose in April to its highest since September 2013. Inflation now stands at 2.7% – up from 2.3% in March – and above the Bank of England’s 2% target.

Inflation to peak 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The Bank of England has warned that inflation as measured by the Consumer Prices Index (CPI) will peak at just below 3% this year.

As a result, VitalityLife has upgraded the way indexation is sold. Policies with indexation will have lower initial premiums than level policies.

Before policy anniversaries, clients are invited to increase their cover and, if they do so, the cover and premium increase from their anniversary.

This increase in cover levels can be declined at any time, but after three consecutive declines indexation is removed and the cover converts to level with no premium impact.

Justin Taurog, managing director sales and Distribution at VitalityLife, said: “We believe these changes to encourage take-up of indexation are the right thing to do at the right time, so that the value of protection policies are themselves protected. We want to make sure we are giving advisers every opportunity to inflation-proof both their clients’ and their own protection policies.”