By Bryan Tucker posted October 1, 2019
WHAT IS VITALITY
Vitality is a health and well-being programme that has been operating in other countries for years
When a policyholder adds Vitality they make a commitment to meet some pre-defined health and well-being targets like:
- Minimum amounts of exercise each day
- Online health & nutrition assessments
- BMI checks
- Nutrition, eye & dental checks
If they achieve their weekly exercise goals they will receive a $5 voucher each week towards movie tickets, iTunes vouchers, Harvey Norman or New World groceries. As a participant they can also get discounted nutrition consultations and mole-maps and a free health check at Unichem or Life Pharmacies.
PREMIUM DISCOUNTS WITH VITALITY
As soon as a policyholder joins Vitality his/her AIA/Sovereign insurance premiums are automatically reduced by 10%. Depending on the policyholders level of participation each year the 10% discount can either increase by 2%, stay the same, reduce by 1% or reduce by 2% per year. The maximum Vitality discount that can be achieved is 20%. Which premium adjustment applies depends on their achievement of fitness and well-being status levels:
Bronze - reduce discount 2% for the year
Silver - reduce discount 1% for the year
Gold - Keep current discount
Platinum - Increase discount by 2%
For policyholders who haven't engaged with the program it would take 5 years for their discount to completely disappear.