Vitality health - further cuts to reward programme

Rich2808

Got an email today from Vitality health stating that they are making 'minor changes' to their reward scheme for their health insurance and certain life cover policyholders.

From 13 December the up to 40% reduction on up to two British airways flights in each policy year is ending. You can still take advantage of this if you book by then. This follows on from the ending of the up to 50% reduction on Eurostar last year - and cutting the free cinema ticket offer to every two weeks rather than weekly in April.

https://www.vitality.co.uk/rewards/partners/travel/british-airways/frequently-asked-questions/

In addition they are removing the 50% reduction on health checks with Nuffield and BMI - the more premium offerings - and restricting the discount to Bluecrest screenings only (who offer a less extensive screening which doesn't involve seeing a doctor).

Its a bit irritating that Vitality call these changes 'minor' - they aren't so why not be honest - and it further reduces their policy benefits. I wouldn't mind if they just made these changes when your policy renews - rather than in year - as we can't change things on our side.

They are promising new partner offerings shortly - the way things are going it will probably be 10% off a one way Ryanair flight once a year!!

Weighty1

That's my I recommend policies to my clients based on the core insurance cover, not some added benefits which can change like the wind.

csgohan4

I agree above, I joined because it was good value for me at the time, not due to the gimmicks which are for those who are fitness instructors full time and can go Gym 10 times a week to get those rewards.

Chomeur

Now:
(a) 50% off gym memberships is useless because you can't go to the gym,
(b) free cinema tickets are useless because you can't go to the cinema either, and
(c) according to the FT "The entire capacity of the private hospital sector in England will be used to treat coronavirus patients" https://www.ft.com/content/c9a9be78-6b7b-11ea-89df-41bea055720b. So if you have to go to hospital with coronavirus you probably won't get any different treatment than with the NHS, and if you are ill with something else you may not be able to go to hospital at all.
Time to cancel it?
Edit (d) Starbucks is closed as well.

dunstonh

Time to cancel it?

Isn't the point of life assurance to give you life assurance?  So, cancelling it will remove the primary benefit.

The gimmicks are not the reason you should buy something.   

Chomeur

dunstonh said:

Time to cancel it?

Isn't the point of life assurance to give you life assurance?  So, cancelling it will remove the primary benefit.

The gimmicks are not the reason you should buy something.   

No, I bought it mainly for the gimmicks, as you call them. They were worth more than the premiums.

Weighty1

Chomeur said:

dunstonh said:

Time to cancel it?

Isn't the point of life assurance to give you life assurance?  So, cancelling it will remove the primary benefit.

The gimmicks are not the reason you should buy something.   

No, I bought it mainly for the gimmicks, as you call them. They were worth more than the premiums.

I would imagine you are in the minority then.  To cancel a life insurance/income protection plan/critical illness policy amid a global pandemic seems barmy when there's probably a higher chance of claiming now than ever before.

Plus, even if you do cancel it, you'll pay a bigger premium when you take the plan out in a few months by virtue of being older than when you originally took it out.

Chomeur

Actually, yes, if I get treated in an NHS hospital they do pay me £250/day or something. 
I'm not in an at risk group for the disease, and I think I've had it over the last few days anyway, but now feel OK. So the chances of me going to hospital with it must be minimal.
They increase the premiums every year due to age in any case.

Weighty1

Chomeur said:

They increase the premiums every year due to age in any case.

Apologies, you're right, for Private Medical Insurance the premiums will increase with age so it doesn't make much difference.  My point was in consideration of life/critical illness/income protection cover only.