Based on an employee who is a male 45 year old, non smoker, with £150k of relevant life cover provided. The monthly premium would be £22.
Annual premium for the employee would be £264.
The tax efficient classification of the product means as much as 50% or more of the gross premium can be saved. In this case, £132 per annum.
Potential annual cash back of £100* (£100 per employee – if Vitality platinum status was achieved) – the net annual cost would be as low as £32.
Therefore, the cost of protecting an employee who is fully engaged in the programme would be the equivalent price to a cup of coffee every month.
*The figures are based on premiums as of May 16, and are based on average prices - they are subject to increase dependent on the individual circumstances of the individual.
What our customers say
Types of cover available
Relevant Life Cover
Relevant Life Cover – a tax efficient alternative to Death in Service benefit.
Shareholder or business partner cover – keep control of the business if a shareholder or business partner dies or suffers a severe illness.
Key Person Cover - protecting profits again the loss of an employee through death, disability or severe illness.
Loan Protection Cover - covering business loans if a shareholder or business partner dies or suffers a severe illness.
Health Cover for Business
Employees who get ill receive private medical treatment as quickly and efficiently as possible.
Flexible plans give access to a range best consultants, hospitals and treatments.
Access to the Vitality on-line GP service.
Here's what your employees can look forward to
Healthy employees are more productive for you, and are less likely to make claims. That’s why we can offer such a comprehensive benefit package.
It covers everything from helping them understand their health and making it cheaper and easier to get healthy, to giving them incentives to stay motivated. The more we offer your staff, the healthier they are – which means they perform better at work – it’s good for everyone.
Employees automatically get great health partner discounts and rewards to help them do healthy things. And, depending on their your plan, they could get even bigger rewards* including British Airways flights, a weekly cinema ticket and Starbucks drink, annual cashback* and much more, when they get active.
*Available with VitalityHealth and certain VitalityLife plans
Our exclusive range of rewards and benefits are designed to complement Vitality’s and give your employees the opportunity to understand their current health and wellbeing as well as giving them the tools to make lifestyle changes to become healthier and happier including a personalised nutritional report, wellbeing manual and services and wearable technology.
Wearable tech for all members of staff who are covered, so that they can keep a track of their activity.
Engagement measurement – so that we can prove the programme is good for your business.
A monthly programme of wellness webinars – covering topical themes that effect the health of everyone.
On-site wellbeing services – this ad-hoc service covers a variety of different options, including clinics to address relevant health issues specific to the organization (additional charges may apply).