Great to see Vitality pushing for further innovation and simplification. Multiple pay-outs on the CIC plan up to 2 or 3 x sum assured is a game changer and will be interesting to see if and how any of the other insurers might react.
if vitality can get their undewriting as good has Aig then they will be a game changer,its all smoke and mirrors, and with over 75% conservative estimate of the uk population over weight or Obese i doubt it., and rating for conditions dreadful
Lets put it this way certainly not anywhere near right now . AIG AND GUARDIAN embarrass them
Reinsurers their problem
vitality 2 and 3 vitality 2 pays multiple claims up to 2x sum assured fantastic so £100k sum assured max payout £200000 as you say game changer and 3 £300000 however with this you are paying extra for the frail cover and whole of life i think looking at quotes and they still underwritten at end of term so not that clever you could have a converatble term with aviva or Zurich for the whole of life conversion now
And a multiple policy with aig for £100000 made up of 2×35000 + 1×30000 will give client £100000 for all group 1 conditions plus £100000 for all group 2 conditions best in market that is £200000 and it will be cheaper than vitality 2 gurantee it with discounts on aig policies
SOUNDS BETTER TO ME when you think vitality only has payouts on 28 main conditions at 100% and with optimiser it goes up another 30% as long has you can maintain 10000 steps a day till you retire
Great to see Vitality pushing for further innovation and simplification. Multiple pay-outs on the CIC plan up to 2 or 3 x sum assured is a game changer and will be interesting to see if and how any of the other insurers might react.
Great point Ben, the gauntlet has been thrown down!
if vitality can get their undewriting as good has Aig then they will be a game changer,its all smoke and mirrors, and with over 75% conservative estimate of the uk population over weight or Obese i doubt it., and rating for conditions dreadful
Lets put it this way certainly not anywhere near right now . AIG AND GUARDIAN embarrass them
Reinsurers their problem
vitality 2 and 3 vitality 2 pays multiple claims up to 2x sum assured fantastic so £100k sum assured max payout £200000 as you say game changer and 3 £300000 however with this you are paying extra for the frail cover and whole of life i think looking at quotes and they still underwritten at end of term so not that clever you could have a converatble term with aviva or Zurich for the whole of life conversion now
And a multiple policy with aig for £100000 made up of 2×35000 + 1×30000 will give client £100000 for all group 1 conditions plus £100000 for all group 2 conditions best in market that is £200000 and it will be cheaper than vitality 2 gurantee it with discounts on aig policies
SOUNDS BETTER TO ME when you think vitality only has payouts on 28 main conditions at 100% and with optimiser it goes up another 30% as long has you can maintain 10000 steps a day till you retire