Enhancements have also been made to its serious illness cover, business protection, term life cover and online adviser hub.
Its new whole of life products include an interest rate optimiser which offers upfront premium discount with annual increases, while its premium optimiser provides a discount of up to 67%, dependent on client age and with fixed annual increases of 2.5%.
VitalityLife CEO Herschel Mayers (pictured) said: “Traditional whole of life plans are based on fixed premiums for the life of the policy. We want to make sure our premiums more accurately reflect future long-term interest rates, rather than just locking members into today’s premiums. We also want it to be a fairer reflection of a member’s age and lifestyle habits.
“We have also improved our market leading serious illness cover, which now covers over 170 conditions and, with our new online adviser hub and the largest face-face distribution to support our advisers, it has never been easier to write protection business with VitalityLife.”
Business protection provided by Vitality will now include its optimiser option, allowing policyholders to pay lower premiums in the first year and in subsequent years if they look after their health.
Five new conditions will be added to the provider’s serious illness cover, while premiums on its life term cover will be cut by an average of 6%, with the maximum age for cover extended to 90 and maximum term pushed up to 70.
Vitality’s online adviser hub is also being updated to include a menu plan option, the ability to have multiple quotes in one application and run client campaigns.