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Graham’s Back with Money Matters!

Graham’s Back with Money Matters!

Half price trainers and free cinema tickets? Really?

There has been a slight delay since my last blog post, which is completely down to the fact the Easter came and went as did bank holiday’s, sunshine and a family trip to Pembrokeshire. A great time was had by all and I can confirm that, even at 6ft 2in, I am not too big to climb through the indoor play centre at Bluestone Resort. Although my knees don’t appear to be able to handle it as well as they could when I was 5. Ah well…

So, to matters in hand – “what’s all this about half price trainers and free cinema tickets?” I hear you all cry. Well, I wanted to delve further into the family protection topic but highlight some of the benefits that you can receive from insurance providers – beyond making sure that your family is looked after if life gives you lemons and the lemonade jug has broken.

In ye olde days of insurance (not quite as far back as folk gambling on the demise of ships from a coffee house in London) providers simply offered you the cover, and that was that. After being accepted all you got was the warm fuzzy glow that only an insurance contract can give (just me?) along with a thick pack of paperwork from a company that normally had Scotland or Scottish in their name. 

But things began to change about a decade ago and providers started to offer, what I believe is termed, ‘value added’ benefits.

These benefits are the sweeteners that insurers offer to try and tempt you to them instead of their competitors. Now I should STRESS (capitals for any of the doubters) that you should NEVER (see, I did it again) choose an insurance policy on the basis of the extra benefits. If there is one thing you take away from any of my ramblings it is that getting the wrong policy can be as bad as having no policy! I sound like a stern father! Ha ha!

They range from offering a certain number of remote private GP appointments each year, to access to medical and legal helplines for support with other matters.

But there is one provider who is a bit different to the rest …..Vitality.

Now Vitality are a bit of a game changer who came to the market around 2007. They offer an incredibly complex product (but don’t worry, we know all about it!) with a range of different features. It is market leading in many areas. The difference with Vitality is that they take the approach that we should be encouraged to stay healthy and rewarded for doing so. It still amazes me that it took this long for an insurance company to realise that they have a vested interest in keeping people well, but there you go!

Vitality offer discounts on their premiums and then allow you to maintain that discount by keeping an active lifestyle – simple things like recording how many steps you do or going to the gym give you points, which in turn affects your Vitality status. Here is what is on offer as a Vitality plan member.

  1. 40% off Gym membership with Nuffield, Virgin and some David Lloyd gyms
  1. 1 pair of half price trainers from Runners need per year per person named on the plan
  1. An Apple Watch for £159
  1. One free cinema ticket every two weeks for each person named on the plan
  1. Discounts on fitness tracker i.e. Garmin, Fitbit etc
  1. Free Amazon Prime
  1. Free Starbucks Coffee
  1. Cheap British Airways Flights

The list goes on and quite frankly it is far too much to go into here. Some of the above are rewards for being active (cinema tickets, Starbucks, Prime, Watch etc) and others are available to all Vitality members regardless of your ‘status’ (trainers, fitness trackers, gym membership etc). 

Now a Vitality plan will not be for everyone – if you prefer to keep things simple with your insurance then you can set the Vitality plan up accordingly and avoid all the added extras and, as I mentioned above, you should always take the policy that is right for you. 

We have already helped a number of the Cheltenham Maman Readership with their insurance and mortgage needs so, if it is still on your to do list but you also require some new trainers now might be the time to get in touch.

You see, insurance isn’t all boring- there are benefits you can have before the need to claim arises!

Increase the peace.

G

This blog is part of paid partnership CheltenhamMaman is proud to hold with Hudson Rose. 

About Graham

Graham is a father of two and a regulated provider of financial advice who believes you don’t have to wear a suit to know a thing or two about looking after your money and protecting those you love. You can find out more about Graham at Hudson Rose and follow him on Facebook and Instagram.

Graham is writing a series of blogs for CheltenhamMaman covering Money Matters and would love to know which myths you’d like busted! Leave a comment or drop him a message to let us know what topics you would find useful. 


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