We listen to what clients want: improving our serious illness cover

As part of our promise to our customers, we are continually looking for ways to ensure that our products are meeting the needs and wants of the market today. To understand what people look for within a critical/serious illness product, we independently surveyed 800 consumers to get their opinion on what they think is important to them when choosing critical/serious illness cover.

Top 3 consumer findings

  • 86% of people regard likelihood of payout as very important
    • Vitality covers more conditions and at lower severities than critical illness providers meaning that you are more likely to get a payout2
  • 82% of people rate having a wide range of conditions as very important
    • Vitality covers more conditions than any other insurer3. 178 conditions are covered on our Comprehensive Serious Illness Cover and 145 on Primary Serious Illness cover
  • 77% think it’s extremely or very important that payout is based on the severity of an illness
    • Vitality pays out based on the severity of your illness. This means you could receive a payout at an earlier stage of your illness, even if it’s not life threatening

Whats next?

Click here to download the Vitality consumer servery 2018 infographic.

For more information on Vitality Serious Illness Cover:

  • Visit our adviser webpage here
  • Explore our Conditions Covered Tool here
  • Speak to your Business Consultant or National Account Manager

Sources

1 An independent survey of 150 doctors and 800 consumers carried out by Immerse on behalf of VitalityLife, March 2018

2 Hannover Re UK Life Branch, as of February 2017

  1. Estimates are based on Hannover Re UK Life Branch’s interpretation of the general population incidence rates and their estimated view of future trends. Incidence rates for the entire population may be different to those lives that take out life insurance products.
  2. The typical critical illness product is a mid-market one and covers most conditions seen in the market
  3. Vitality Life estimates are based on the Vitality Life Plan with Comprehensive SIC

These estimates are for information only and are based on Hannover Re UK Life Branch’s analysis of statistical data. Hannover Re UK Life Branch accepts no liability for any reliance placed upon these estimates and any use of the analysis is the sole responsibility of the user.  

2      Defaqto, April 2018