Life Insurance HealthForty Review
By: Charles James
If you are looking for a life insurance policy that can also help you improve your health and wellness, you might want to consider HealthForty. HealthForty is a new product from Vitality UK, a leading provider of insurance plans that reward you for making positive lifestyle choices. In this blog post, I will review HealthForty and explain how it works, what benefits it offers, and how it compares to other life insurance options.
What is HealthForty?
HealthForty is a term life insurance policy that covers you for 40 years or until you reach age 80, whichever comes first. It is designed for people who are aged between 18 and 40 when they apply, and who want to protect their loved ones financially in case of their death. HealthForty also gives you access to Vitality’s wellness program, which includes discounts on gym memberships, fitness trackers, healthy food, and more. You can also earn Vitality points by completing health checks, exercising regularly, and staying within healthy ranges for your blood pressure, cholesterol, and BMI. The more points you earn, the higher your Vitality status (Bronze, Silver, Gold, or Platinum), and the lower your premiums.
What are the benefits of HealthForty?
HealthForty has several benefits that make it an attractive option for people who want to combine life insurance with wellness incentives. Some of these benefits are:
- Affordable premiums: HealthForty offers competitive rates that start from as low as £10 per month for a £100,000 cover. Your premiums are guaranteed not to increase for the first 10 years of your policy, unless you increase your cover or change your personal details. After 10 years, your premiums will be reviewed based on your age, health, and Vitality status.
- Flexible cover: You can choose how much cover you want, from £50,000 to £1 million. You can also increase or decrease your cover at any time during your policy term, subject to underwriting and terms and conditions. You can also add optional extras to your policy, such as critical illness cover, income protection cover, or serious illness cover.
- Wellness rewards: As a HealthForty member, you can enjoy a range of discounts and rewards from Vitality’s partners, such as Apple Watch, Amazon Prime, Starbucks, Cineworld, and more. You can also get cashback on your premiums if you achieve Gold or Platinum status at the end of each policy year.
- Life expectancy boost: According to Vitality’s research, people who engage in their wellness program can increase their life expectancy by up to 3.8 years compared to those who do not. This means that by choosing HealthForty, you are not only protecting your family financially but also potentially extending your lifespan.
How does HealthForty compare to other life insurance options?
HealthForty is not the only life insurance product that offers wellness benefits. There are other insurers that also provide similar features, such as BCG’s Life Insurers May Find New Growth in Wellness or NerdWallet’s Average Life Insurance Rates for March 2023. However, HealthForty stands out for its unique combination of affordability, flexibility, and rewards. Here are some of the advantages of HealthForty over other life insurance options:
- Longer term: HealthForty covers you for 40 years or until age 80, which is longer than most term life policies that typically last for 10, 20 or 30 years. This means that you can lock in a low rate for a longer period and avoid having to renew your policy at a higher price when you are older and less healthy.
- Lower premiums: HealthForty offers lower premiums than most other life insurance products that include wellness benefits. This is because Vitality uses its own proprietary underwriting model that takes into account your lifestyle factors and Vitality status. This means that you can save money on your premiums if you maintain a healthy lifestyle and earn Vitality points.
- More rewards: HealthForty gives you access to more rewards than most other life insurance products that include wellness benefits. This is because Vitality has a wide network of partners that offer discounts and cashback on various products and services related to health and wellness. This means that you can enjoy more perks and incentives for staying healthy and active.
Conclusion
Overall, if you’re looking for a life insurance product that provides long-term coverage and also helps you improve your health and well-being, HealthForty may be a good option to consider. However, as with any insurance product, it’s important to carefully review the policy terms and conditions and compare it with other products to ensure it meets your needs and budget.
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