VitalityLife has seen business protection sales increase of 26 per cent in the first six months of this year, representing a £4.9m increase in new annual premiums, up from £3.86m.
This makes it the eighth consecutive year Vitality has grown business protection sales.
Additionally, sales of relevant life policies – an alternative or ‘top-up’ to group death in service benefit – also increased by 91 per cent since Vitality health and rewards benefits were added to these policies at the end of last year.
Justin Taurog, managing director of sales and distribution for VitalityLife, said: “We are working hard with advisers across the industry to help grow the protection market and we have now continued to grow our business protection sales for an eighth consecutive quarter.
“In addition, two out of every three business owners are choosing to include our Vitality health and rewards benefits on their RLP cover as an employee benefits package.”
Roy McLoughlin, partner at MasterAdviser, added that business protection is a growing area of the market. “It’s an offering that allows employees to benefit from healthy living and the rewards keep them appreciative of the cover they have in place.”
At the start of June, the VitalityLife brand definitively replaced PruProtect, with advisers having to update their literature and any apps they use.
peter.walker@ft.com
