Vitality income protection [2024]

Vitality income protection provides a financial safety net in the form of monthly payments if you’re unable to work due illness or injury.

This can allow you to take the time you need to recover without worrying about your income.

Vitality income protection key features:

  • Monthly payments are tax-free and can help to replace a percentage of your income
  • Can help you to cover key expenses such as mortgage/rent payments, bills and other living costs while you’re recovering from illness or injury
  • Earn rewards when leading a healthy lifestyle
  • Short-term and long-term payment periods available
  • You won’t be covered if you’re made redundant or dismissed
  • Income protection is available as part of the Vitality personal protection plan

Why not compare Vitality income protection through Reassured? Our advised team can provide you with fee-free quotes from Vitality and other major UK insurers.

Take the first steps in protecting your income and get in touch today. Quotes start from just 20p-a-day ‡ .

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Does Vitality offer income protection?

Yes, Vitality offer income protection.

In 2023, Vitality introduced a range of new changes to their income protection to enhance their offering.

This includes:

  • Consolidation of their three income protection policies into one comprehensive policy
  • Vitality income boost - A feature which allows customers to increase their pay out by an extra 20% for up to 6 months by keeping active and improving their Vitality status
  • Enhanced guaranteed insurability - Members can easily make changes to their policy without providing additional medical information, such as changing occupation, deferred period or term length
  • Recovery benefit - Additional support to help members back to work sooner through additional private healthcare benefits to accelerate rehabilitation (such as CBT, cancer treatment support and physiotherapy)

Why not use Reassured’s advised team to compare Vitality income protection with all other UK insurers?

Our whole of market service can help you find the best available deal.

How much income protection insurance do you need?

Enter the fields which apply to you to calculate the level of income protection cover you might require to help cover key costs.

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£723 a month is the average monthly mortgage payment in the UK, with the average monthly rental price coming in at £700.

The majority of our monthly income will go towards rental or mortgage payments.

For this reason, it’s essential to have precautions in place to ensure you could keep up to date with your payments if you weren’t receiving your usual income.

Monthly income protection payments can help to cover this large expense and ensure you can stay in your home.
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According to the Money Advice Service, the average household spends £340 a month on household bills.

This includes electricity, gas, TV and broadband.
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Childcare costs are on the rise with it now costing £137.69 per week for part-time nursery for a child under the age of two.

That’s over £550 per month - is this an amount you’d be able to keep up with if you were unable to work?

Becoming ill could also result in the need for additional childcare while you attend doctors’ appointments or medical treatment.
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The average household in the UK spends around £97 a week on their food shop, totaling £388 a month.

While this may seem like a small amount in comparison to some of the other expenses mentioned, the food shop is often where we try to scrimp and save when we fall on hard times.

Income protection can take care of the cost of your weekly food shop, as well as many other essential costs.
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At the beginning of 2020, credit card debt in the UK was at £2.1 billion, with almost 27 million UK residents in some kind of debt.

Becoming unable to work could make it hard to keep up with credit card or loan payments (including car finance or other financed goods).

Failure to keep up with payments could result in additional interest being incurred or late fees issues - resulting in a higher total needing to be paid.
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The average spent on public transport each month comes to an average of £94.

This includes the cost of public transport, as well as petrol and diesel vehicles.

While this amount may reduce while you’re unable to work as you won’t need to commute there may be additional spending on public transportation if your illness or injury leaves you unable to drive.
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Your total cover estimate

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Is Vitality a good insurance company?

Vitality is one of the UK’s most popular insurers. Offering income protection, life insurance, over 50 life insurance, health insurance, mortgage protection and serious illness cover.

In terms of their income protection, Vitality is rated well on independent review sites.

Review sites (such as Trustpilot and Defaqto) allow you to get a better understanding of how customers and professionals feel about the products and services offered by insurers.

Vitality income protection reviews:

Review siteScore
Trustpilot logo 4.3
('Excellent')
5 star defaqto rating 5 stars

Correct as of 20/11/2024

Vitality takes a different approach to offering cover, by encouraging their members to lead a healthy lifestyle.

Often this is through a range of incentives, such as offering a free gift (like an Apple Watch to track your fitness), as well as a range of discounts from their reward partners.

Please note, if you take out cover via a broker rather than directly with the insurer, you may not be entitled to any free gift offers.

Vitality income protection terms and conditions

Income protection policies come with a range of terms and conditions, some of which can be tailored to best meet your needs.

Below are the terms and conditions of Vitality’s income protection:

Policy terms & conditionsDefinitionAvailable through Vitality
Definition of incapacityWhat makes you eligible to claimVitality use an own occupation definition of incapacity. This means you can make a claim if you’re unable to do the daily tasks associated with your job
Benefit amountHow much will be paid out to you. Also known as a monthly benefitUp to 60% of your usual annual income (before tax) could be paid out in monthly payments
Payment periodHow long your policy will pay out forShort-term payment periods of up to 1, 2 or 5 years are available, as well as a full term option
Deferred periodThe period of time that must pass before your payments commence. You must still be unable to work after this time in order for your payments to startDeferred period options include 1 month, 2, 3, 6 or 12 months

What percentage of income protection does Vitality pay?

Vitality income protection could pay out up to 60% of your usual income.

While you won’t receive your whole income, the amount you receive would be tax-free and could help you cover living costs such as:

  • Mortgage or rent payments
  • Household bills
  • Childcare costs
  • Debt or loan payments

The amount of cover will be dependent on your income. This includes income from your usual job as well as any other forms income you may earn.

How much is Vitality income protection?

Vitality advertises their income protection from just £5 per month.

However, the exact price you pay for income protection with Vitality will depend on your personal circumstances.

During the application process, you’ll need to provide key information about yourself, such as:

  • Age
  • Health & wellbeing
  • Occupation
  • Lifestyle choices (such as your hobbies & alcohol consumption)
  • Smoking status

These factors, along with the details of your policy, will allow Vitality to assess your level of risk and your monthly premium will be calculated accordingly.

Below are some example prices of Vitality income protection through our advised service.

Quotes are based on a non-smoker, in good health, with an annual income of £30,000. Cover is until age 65 with a 6 month deferred period:

AgePrice per month (limited term, 1 year payment period)Price per month (full term payment period)
20£5.00£11.63
25£5.00£12.79
30£5.28£14.85
35£5.97£17.37
40£7.09£22.39
45£8.76£30.22
50£11.04£38.93

Comparing quotes can allow you to find a great deal on a policy that meets all your needs.

Through the advised team at Reassured you can compare Vitality income protection with all other UK insurers to find the best available deal.

Quotes start from just 20p-a-day.

Compare Quotes from Whole of the Market »

Does Vitality income protection pay out?

Yes, in 2023, Vitality paid out 95.4% of income protection claims (totalling £1,000,000).

The main reasons for income protection paying out included:

  • Musculoskeletal injuries - 19%
  • Cancer - 31%
  • Mental health conditions - 19%[1]

What benefits do I get with Vitality?

Vitality income protection includes a wide range of benefits, these include: Up to 20% extra on your benefit

By leading a healthy lifestyle, you can grow your Vitality Status which could allow you to boost your monthly pay out for up to 6 months.

Below shows the percentage your pay out amount could be boosted depending on your Vitality Status:

  • Platinum - 20%
  • Gold - 15%
  • Silver - 10%
  • Bronze - 0%

Healthcare and support

You’ll have access to a range of support services, such as physio, therapy and cancer support.

Flexible cover (guaranteed insurability)

Make changes to your cover to keep up with changing circumstances, such as increasing your cover, waiting period or payment period.

Discounts and rewards

Vitality has an extensive rewards programme through their rewards partners. Some of the offers you could benefit from include:

  • 75% off Champney’s spa days and stays
  • Up to 36% off a range of Fitbit devices
  • Up to 50% off a monthly gym membership at Nuffield Health gyms

(Offers correct as of 20/11/24. Offers are subject to change by the insurer at any time and may be subject to terms and conditions which are available on the insurers website).

Earnings guarantee

A pay out of up to £1,500 per month will automatically be guaranteed and your salary won’t be considered when calculating the maximum payable amount.

Alternatively, you can verify your earnings within the first six months of your policy to receive a greater monthly pay out (up to a maximum of £8,000 per month).

Waiver of premiums

While your claim is paying out, you won’t need to pay your premiums.

Indexation

You can choose to add this to your policy to allow your pay out to increase in line with inflation. Your monthly premium will also increase.

Features for doctors and surgeons

A guaranteed benefit amount of up to £3,000 without the need to submit proof of earnings.

Public sector deferred period

If you work within the UK public sector, the public sector deferred period automatically aligns the deferred period to the pay out structure when a 12 month deferred period is selected.

What is the Vitality personal protection plan?

The personal protection plan offered by Vitality allows you to choose up to three forms of cover to help you protect various financial commitments and costs.

Under this plan you could choose to add a range of cover options, but it must include at least one of the core covers:

  • Life insurance
  • Serious illness cover
  • Life with serious illness cover
  • Income protection

(Please note you can’t choose life with serious illness cover and serious illness cover together under a single policy). 

You could also choose to add:

  • Child serious illness cover
  • Waiver of premium on incapacity
  • Lifestyle care cover

Vitality personal protection plan key points:

  • Add up to three forms of cover to one plan
  • Available to UK residents aged 16 - 74 (you must be over 18 to take cover out through Reassured)
  • Life cover option is available as term life insurance or whole of life insurance
  • Minimum term is 5 years
  • Can be taken out on a joint basis
  • Premiums can range from £5 up to £60 (the number and type of covers you take out under this plan will impact the price you pay)
  • You can make changes during the policy term such as increasing/reducing your cover, removing a second person from a joint policy, changing the policy term, removing optimiser from your policy

Compare Vitality income protection quotes

Compare Vitality income protection quotes through the advised team at Reassured.

Our whole of market comparison service can allow you to find the best available deal on a policy that meets all your needs.

A friendly expert can also answer any questions you might have and provide advice tailored to your personal circumstances.

Simply get in touch today to protect your income. Quotes start from just 20p-a-day.

Compare Vitality income protection Quotes »

Sources:

The information in the article has been taken from the Vitality website and is correct as of 20/11/24

[1] https://adviser.vitality.co.uk/adviser.vitality.co.uk/media-online/advisers/literature/life/misc/life-claims-benefits-report-2024.pdf

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