Vitality comes down to three simple steps:
1) Know your health,
2) Get help getting healthy, and
3) Enjoy the rewards.
We think these are great conversation starters for when advisers meet clients, too.
When people truly understand the depth and range of what Vitality has to offer, they can see how different it is from any other health and life cover on the market.
Vitality doesn’t just offer protection when things go wrong; it offers a life-changing opportunity for clients of any age and health status to embrace a fitter, healthier lifestyle. In the process, Vitality is helping advisers differentiate and define themselves by delivering value and results to their clients. Let’s talk Vitality…
KNOW YOUR HEALTH
Vitality opens up a new conversation with clients and it starts with a key question: how healthy are you really? To find out, Vitality asks new members to complete an online questionnaire that reviews key clinical information (BMI, cholesterol, glucose and blood pressure levels; mental wellbeing; and lifestyle factors, including smoking, alcohol, diet and physical activity) to determine their Vitality Age. This not only gives advisers a unique insight into their client’s health, it also helps them to understand how to make Vitality work best for them.
We ask our clients very specific questions, such as how do they like to exercise. Some people might go for a run, while others prefer to walk the dog. That allows me to funnel the benefits that I’m going to spend more time talking about. This is central to our sales process.
Across the UK, 7,000 new Vitality Age reviews are completed every month. If members want more detail about specific health issues, they can take a Vitality Healthcheck at their local LloydsPharmacy, a Vitality partner. If they want a truly in-depth analysis they can also undertake a full health screen with one of the Vitality screening partners, including BMI Healthcare, Nuffield Health and Bluecrest. And this can yield surprises of its own: a massive 87% of people who took a Vitality Healthcheck with high cholesterol did not know this until they had a health check with Vitality.
GET HELP GETTING HEALTHY
Vitality has 17 years’ worth of insights into what motivates people to make better lifestyle choices, and we ensure we increase the value of our cover by keeping pace with the latest advances in medicine and healthcare, such as bariatric surgery and non-elective cosmetic procedures. Putting all that knowledge into practice, we work with an ever-growing range of carefully selected partners to deliver a variety of health and lifestyle solutions that appeal to a broad spectrum of clients – young and old, those who want to get more active and those who are already running marathons.
To incentivise members to engage with their health, we provide real value when they do. Vitality members can save more than £50 a month on Virgin Active flexible individual monthly gym membership fees – more than 30% of Vitality gym members save the equivalent of their annual insurance premiums. Those savings can then be channelled back into the cost of the premium, enabling advisers to provide a broader range of cover overall.
“I use Vitality to make larger sales and also to sell into areas a client might not have been aware existed,” explains Chris Downham from Reward Health. “When people start to embrace Vitality but have a term policy, they might only enjoy its benefits for 15 years. The conversation could be that they want to keep the rewards and the health incentives as they grow older. Then a whole life policy becomes important. If the financial incentives they get from Vitality pay for that whole life cover, then not only do they get all the rewards and benefits, but they are also funding a legacy for their children. I think that’s a discussion advisers often miss.”
ENJOY THE REWARDS
Vitality is leading the way in the use of incentives to nudge people to better lifestyle choices and then using rewards to create sustained engagement in their health. Whether it’s half-price trainers or cashback on bikes, luxurious Champneys breaks, weekly cinema tickets or Starbucks coffee, advisers can demonstrate a raft of rewards, plus a comprehensive range of tailored cover options.
“Every client can benefit from Vitality incentives and rewards,” says Rob Downham. “For example, a couple in their mid-thirties with a couple of children might pay up to £200 a month for a comprehensive insurance package. If they only had a budget of £60, we would be able to demonstrate that with Vitality cashback and rewards, they might actually save almost £200 per month on their outgoings. We use that to provide a more comprehensive insurance solution than the clients originally thought they could afford. Vitality has really helped our customers. As a financial adviser, to get people to really embrace their health is something that can get you out of bed in the morning!”
Vitality Age assesses the impact that lifestyle choices have on a person’s health, and then calculates their “Vitality Age” as a result – for the average person, that’s four years older than their actual age. We’ve found it’s a good way to get people to understand the link between their lifestyle and their health – and then take active steps to make a difference. 79% of Vitality members who had a Vitality Age that was six years or more than their actual age saw an improvement in their Vitality Age the following year.
People can sync a range of wearable devices to earn Vitality points for the amount of activity they do. The more points they gain, the more they increase their Vitality status, going up through Silver and Gold to Platinum status. The higher the status, the bigger the rewards.
Members enjoy a discounted gym membership. More than 30% of Vitality gym members actually save the value of their insurance premiums and more than 70% save more than half the cost of their plan every year.