Vitality, a health insurance and life insurance company, has introduced new products and improvements to certain protection offerings aimed at providing financial protection and support for its members recovering from illness or injury.
The newly launched products and the improvements to existing products will be available to Vitality’s customers on March 3.
The company is launching a “severity-based” accident and fracture cover, with payments of up to £10,000 for partial or complete bone fractures. It also includes an emergency hospitalisation benefit of up to £2,000 for emergency hospital stays exceeding 48 hours due to an accident or requiring emergency surgery. Additionally, up to six physiotherapy sessions are available following a valid claim.
Over the 10-year study period, there were about 2.5 million fracture admissions in England, with hip fractures being the most common fracture requiring hospitalisation, according to a 2019 study published in the National Library of Medicine-National Center for Biotechnology Information.
The product will be offered with Vitality Personal Protection Plans at a cost of £7.50 per adult per month.
Vitality has also updated its Recovery Benefit offering, which is part of its income protection product. These enhancements include the introduction of neuro-rehabilitation services, which, according to a 2019 report, remain inadequate, having only about 40% of those who need it, receive it.
The new services will be offered in addition to existing physiotherapy, mental health support and cancer care support.
The company said its Recovery Benefit will now be applicable to three out of four income protection claims. Members who take up the benefit within their deferred period will have their premiums waived for up to three months, according to the company.
The company has also introduced changes to its funeral pledge, providing additional financial support for immediate funeral costs. The company said a £2,000 advance payment from the £10,000 funeral pledge funds will now be made directly to the funeral director upon evidence of death, without the need for further medical documentation.
According to the SunLife Cost of Dying 2024 report, the average cost of a basic funeral in the UK is £4,141, including the average cost of funeral director fees and third-party fees, such as cremation or burial fees.
Justin Taurog, chief executive officer of VitalityLife, said the products and improvements the company has launched reflect the ever-changing demands of the protection market. Adam Higgs, head of protection at SJP, commended the company’s new accident and fracture cover, saying that it will help ease financial burden to clients who suffer a fracture. He also said that the addition of physiotherapy support would help speed up recovery.
The new products and improvements come after the announcement of Arun Thiyagarajan’s appointment as CEO at the company.
