Vitality health renewal

timajackson

I have recevied my renewal docs from Vitality health today and they are proposing an increase of around 10% on last year's premium. This is despite not making a claim and being a 'platinum' level member. They went up nearly 30% last year after a minor one-off claim fro my daughter

My question is whether health insurance policy premiums are 'neogtiable' in the same way that car insurance is. In the past I was told the only way to reduce the premium would be to reduce the policy entitlements, but is that actually the case?

Does anyone have experience with negotiating a reduced renewal premium on existing terms?

Weighty1

No, pmi or life insurance premiums are not typically negotiable. The only reason they are with car/home insurance is because a far larger portion of the cost makes up commission. With life/pmi type insurance contracts the overall level of commission is much smaller so there's far less ability to negotiate.

It's pretty standard for pmi insurance to increase annually since older people claim more than younger people. Had you not been a platinum level member then the increase would likely have been greater.

timajackson

thank you very much

Rich2808

I think with vitality to make it worth while you really need to take up the incentives e.g. half price Virgin Active/Nuffield gym membership which can be worth over £100 a month if you join a VA Collection club, one free Starbucks coffee a week, free weekly cinema tickets at Vue or Cineworld (soon to be every two weeks from next month), free Amazon prime if you get 160 activity points a month, 40% oFf two BA flights a year, 75% off a Champneys stay and more).

I keep my policy because the benefits – which I use – are more in monetary terms than the premium cost. But if you don’t live near a Virgin (a very London based chain now) or a Nuffield gym its harder to make it work.

So look at the cost/benefits – and then decide.

Weighty1

Rich2808 wrote: »

I think with vitality to make it worth while you really need to take up the incentives e.g. half price Virgin Active/Nuffield gym membership which can be worth over £100 a month if you join a VA Collection club, one free Starbucks coffee a week, free weekly cinema tickets at Vue or Cineworld (soon to be every two weeks from next month), free Amazon prime if you get 160 activity points a month, 40% oFf two BA flights a year, 75% off a Champneys stay and more).

I keep my policy because the benefits – which I use – are more in monetary terms than the premium cost. But if you don’t live near a Virgin (a very London based chain now) or a Nuffield gym its harder to make it work.

So look at the cost/benefits – and then decide.

One of the problems is that the benefits can change as well. Members used to be eligible to gain far more cinema tickets and free Starbucks, plus the cashback available used to be higher and more frequent. I remember when they first came to market, you could be a member of a Cannon's gym, yet that also dropped by the wayside.

Rich2808

Weighty1 wrote: »

One of the problems is that the benefits can change as well. Members used to be eligible to gain far more cinema tickets and free Starbucks, plus the cashback available used to be higher and more frequent. I remember when they first came to market, you could be a member of a Cannon's gym, yet that also dropped by the wayside.

They dropped Cannons - but Nuffield bought Cannons and later bought a number of Virgin Active gyms so they reinstated the half price gym membership at most Nuffield gyms (as long as they aren't near a Virgin Active - so most London Nuffield branches aren't eligible). All VA gyms are eligible though.

Confusing - that's vitality!