VitalityInvest will refund product charges on its Isa, Junior Isa and Retirement Plan for new customers after 12 months.
The offer is available for new customers that open an account before April 5 2019 with a minimum investment period of 12 months.
Investors must commit either a £5,000 initial lump sum or regular payments of at least £200 per month.
The refund means that clients who invest £20,000 in a VitalityInvest Stocks and Shares Isa, for example, could get £100 back in product charge savings after 12 months.
Those who open a plan by transferring £50,000 of their retirement savings into a VitalityInvest Retirement Plan, after 12 months, could get back £230 in product charge savings.
Justin Taurog, deputy chief executive of VitalityInvest, said: "We work continuously on bringing innovative ways and incentives to encourage customers to invest, save towards a financially independent future, while enjoying the wide range of benefits that we offer.
"This is one more way of helping them live longer, healthier and be more financially secure.
"To continue saving money on product charges throughout the plan term, clients can also take advantage of the healthy living discount.
"It is one more way we help clients' live longer, healthier, more financially secure lives. If clients have a qualifying VitalityHealth or VitalityLife plan, invest in our Vitality funds and takes part in our healthy living programme, they could pay no product charge at all each year.
"It is simple: the more they do, the less they pay."
Roy McLoughlin, independent financial adviser and Aasociate director at Cavendish Ware, said: "Isas are such an important mass market product, yet many people still need guidance, advice and a nudge in the right direction – so this new offer from Vitality is very welcome.
"Combined with Vitality's healthy living programme this works well and a first-year incentive on a refund of charges makes this a very attractive investment proposition."
The VitalityInvest Retirement Plan is only available through a financial adviser.
Martin Bamford, chartered financial planner at Informed Choice, said: "We often see gimmicks like this towards the tax year end.
"Investors should focus on long-term charges rather than short term incentives."
Jenny Turton is a freelance journalist
