Vitality to unveil investment offering to advisers next month

By Katie Marriner

Jul 25, 2018

Protection provider Vitality is set to launch its range of investment products next month.

Vitality announced in February last year it planned to launch a suite of investment products towards the end of 2017.

Now the provider is preparing to reveal the proposition at adviser events starting in June.

Vitality Invest and Vitality Life chief executive Herschel Mayers says: “Vitality is launching Vitality Invest, a range of market-first investment solutions that encourage and reward people to live a longer, healthier and more financially-secure life.”

Mayers confirms Vitality Invest will be explained to the market at adviser events across the UK from 11 June.

A document about Vitality Invest, seen by Money Marketing, says the provider wants to “reshape” UK investments.

It says: “At a time when increased life expectancy is presenting unprecedented financial challenges, we will use shared value to change the world of UK investments.”

It adds: “Through our unique proposition and scientific approach to investing and healthy living, we will guide and reward our members towards a more secure future that can help them live longer and increase their financial security in retirement.”

Vitality says it will bring in its “shared value” approach to the investment products. That approach incentivises its members to change their behaviour with the aim of improving their health and finances.

The pitch document says retirement products need to change to “encourage healthy living and ensure income sustainability” for the next generation of older people who are opting for second careers later in life and into retirement and leading more active lifestyles.

It says: “Product innovations that try to combine financial planning with customer health have been skewed toward catering for those in ill-health. Currently, the only retirement proposition that incorporates your customers’ health is impaired annuities. These products effectively create a perverse incentive for people to neglect their health.”

It adds: “Despite the links between health, lifestyle and longevity being well-known, there are still limited tools that allow advisers to explicitly incorporate personal health information into long-term financial planning.”

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