Vitality life.

Casual Orpington 02 Mar 16 7.56pm
I'm paying £80 a month to be a member at a Virgin gym, if I take out a vitality life policy £25 per month level term assurance for 30 years with a sum assured of £250 grand , my gym membership gets halved! So I'll be giving £65 a month for all that life cover , plus the gym and benefits with the plan.ie: free tickets to the pictures ( no good to me as I can't f**king stand it), 75% off champneys so breaks ( 2 of my mates are sending there wives on a £600 weekend for less than a twoer), plus other benefits. It's a term assurance , so can be cancelled at any time , with the only downside being the cover stops ( I used to be a financial advisor many moons ago, so I've got half a clue) Anyone else got one of these. ??
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Casual

Orpington 02 Mar 16 7.56pm

I'm paying £80 a month to be a member at a Virgin gym, if I take out a vitality life policy £25 per month level term assurance for 30 years with a sum assured of £250 grand , my gym membership gets halved!
So I'll be giving £65 a month for all that life cover , plus the gym and benefits with the plan.ie: free tickets to the pictures ( no good to me as I can't f**king stand it), 75% off champneys so breaks ( 2 of my mates are sending there wives on a £600 weekend for less than a twoer), plus other benefits.
It's a term assurance , so can be cancelled at any time , with the only downside being the cover stops ( I used to be a financial advisor many moons ago, so I've got half a clue)
Anyone else got one of these. ??

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crystal balls The Garden of Earthly Delights 02 Mar 16 8.22pm
Originally posted by Casual I'm paying £80 a month to be a member at a Virgin gym, if I take out a vitality life policy £25 per month level term assurance for 30 years with a sum assured of £250 grand , my gym membership gets halved! So I'll be giving £65 a month for all that life cover , plus the gym and benefits with the plan.ie: free tickets to the pictures ( no good to me as I can't f**king stand it), 75% off champneys so breaks ( 2 of my mates are sending there wives on a £600 weekend for less than a twoer), plus other benefits. It's a term assurance , so can be cancelled at any time , with the only downside being the cover stops ( I used to be a financial advisor many moons ago, so I've got half a clue) Anyone else got one of these. ?? I haven't got a Vitality plan myself, but I am currently a financial adviser, and last year I went to their re-launch (they used to be part of the Pru) at the Emirates. They had a big presentation on their products and they're spending lots of dosh to increase brand awareness. Not a bad deal by any means, and they offer reduced premiums if you maintain a healthy lifestyle, so everyone's a winner due to an increased life expectancy (assuming you don't get run over by a bus, of course). I used to be immortal
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crystal balls

The Garden of Earthly Delights 02 Mar 16 8.22pm

Originally posted by Casual

I haven't got a Vitality plan myself, but I am currently a financial adviser, and last year I went to their re-launch (they used to be part of the Pru) at the Emirates. They had a big presentation on their products and they're spending lots of dosh to increase brand awareness.

Not a bad deal by any means, and they offer reduced premiums if you maintain a healthy lifestyle, so everyone's a winner due to an increased life expectancy (assuming you don't get run over by a bus, of course).

I used to be immortal

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Casual Orpington 02 Mar 16 9.02pm
Originally posted by crystal balls I haven't got a Vitality plan myself, but I am currently a financial adviser, and last year I went to their re-launch (they used to be part of the Pru) at the Emirates. They had a big presentation on their products and they're spending lots of dosh to increase brand awareness. Not a bad deal by any means, and they offer reduced premiums if you maintain a healthy lifestyle, so everyone's a winner due to an increased life expectancy (assuming you don't get run over by a bus, of course). Cheers for the feedback mate. You get points every time that you swipe your card into the gym, also with how many steps you do per day, so yeah promoting a healthy life style. Can't see how Virgin gain from it though, apart from increase membership, if a lot of their members will be paying half. £760 commission for the advisor for the policy, honestly how couldn't you sell a policy that actually saves you money.
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Casual

Orpington 02 Mar 16 9.02pm

Originally posted by crystal balls

Cheers for the feedback mate. You get points every time that you swipe your card into the gym, also with how many steps you do per day, so yeah promoting a healthy life style. Can't see how Virgin gain from it though, apart from increase membership, if a lot of their members will be paying half.
£760 commission for the advisor for the policy, honestly how couldn't you sell a policy that actually saves you money.

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Vaibow vancouver/croydon 05 Mar 16 7.33am
I used to work with Virgin Active, you'd be surprised at the profit margins on only paying 40 a month. Not to mention what they get from the brokers with their link up deal. Most members stop, have a drink, meal, perhaps indulge in other activities - it's a life style choice and more of a culture they want to build. It was a good company to work for. This was once a quality forum....
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Vaibow

vancouver/croydon 05 Mar 16 7.33am

I used to work with Virgin Active, you'd be surprised at the profit margins on only paying 40 a month. Not to mention what they get from the brokers with their link up deal.

Most members stop, have a drink, meal, perhaps indulge in other activities - it's a life style choice and more of a culture they want to build.

It was a good company to work for.

This was once a quality forum....

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Hoof Hearted 05 Mar 16 10.41am
Originally posted by Casual Cheers for the feedback mate. You get points every time that you swipe your card into the gym, also with how many steps you do per day, so yeah promoting a healthy life style. Can't see how Virgin gain from it though, apart from increase membership, if a lot of their members will be paying half. £760 commission for the advisor for the policy, honestly how couldn't you sell a policy that actually saves you money. As an ex IFA myself I can see what the deal is for Virgin. Realistically gym memberships are going to turn over very frequently and the £80 a month fee they collect is always likely to be cancelled after a short term. By tying up with Vitality Life, Virgin will probably collect much more £40 fees than £80 fees and be rewarded by Vitality Life for any referrals. The only downside I see for you is that if the policy gets cancelled in the future and you want life cover it will be more expensive for age and possible health deterioration between now and then. If it works for you right now then that's a good thing.
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Hoof Hearted 05 Mar 16 10.41am

Originally posted by Casual

As an ex IFA myself I can see what the deal is for Virgin.

Realistically gym memberships are going to turn over very frequently and the £80 a month fee they collect is always likely to be cancelled after a short term.

By tying up with Vitality Life, Virgin will probably collect much more £40 fees than £80 fees and be rewarded by Vitality Life for any referrals.

The only downside I see for you is that if the policy gets cancelled in the future and you want life cover it will be more expensive for age and possible health deterioration between now and then.

If it works for you right now then that's a good thing.

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Y Ddraig Goch In The Crowd 05 Mar 16 7.52pm
They charge a bloody fortune for their races. the dignified don't even enter in the game
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Y Ddraig Goch

In The Crowd 05 Mar 16 7.52pm

They charge a bloody fortune for their races.

the dignified don't even enter in the game

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Casual Orpington 06 Mar 16 10.37am
Originally posted by Vaibow I used to work with Virgin Active, you'd be surprised at the profit margins on only paying 40 a month. Not to mention what they get from the brokers with their link up deal. Most members stop, have a drink, meal, perhaps indulge in other activities - it's a life style choice and more of a culture they want to build. It was a good company to work for. Yeah I'm sure they make a lot of money even on 40 quid. Just seems weird that I've been a member for 10 years, but they are happy to half my membership cost. They must have some sort of link up with vitality ( the old prudential), Just sounds to good to be true to pay £65 instead of £80 get quarter million pound worth of cover for my kids and other benefits. Things that normally seem to good to be true normally are, like a future England fullback for only 3 mill, zeki fryers.
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Casual

Orpington 06 Mar 16 10.37am

Originally posted by Vaibow

I used to work with Virgin Active, you'd be surprised at the profit margins on only paying 40 a month. Not to mention what they get from the brokers with their link up deal.

Most members stop, have a drink, meal, perhaps indulge in other activities - it's a life style choice and more of a culture they want to build.

It was a good company to work for.

Yeah I'm sure they make a lot of money even on 40 quid.
Just seems weird that I've been a member for 10 years, but they are happy to half my membership cost.
They must have some sort of link up with vitality ( the old prudential),
Just sounds to good to be true to pay £65 instead of £80 get quarter million pound worth of cover for my kids and other benefits.
Things that normally seem to good to be true normally are, like a future England fullback for only 3 mill, zeki fryers.

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Casual Orpington 06 Mar 16 10.39am
Originally posted by Hoof Hearted As an ex IFA myself I can see what the deal is for Virgin. Realistically gym memberships are going to turn over very frequently and the £80 a month fee they collect is always likely to be cancelled after a short term. By tying up with Vitality Life, Virgin will probably collect much more £40 fees than £80 fees and be rewarded by Vitality Life for any referrals. The only downside I see for you is that if the policy gets cancelled in the future and you want life cover it will be more expensive for age and possible health deterioration between now and then. If it works for you right now then that's a good thing. Yeah I know Hoof, but I'm doing it for 30 years as I'll be making a big house move in about 3 years , so I could use it as some of the life cover for the new mortgage.
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Casual

Orpington 06 Mar 16 10.39am

Originally posted by Hoof Hearted

As an ex IFA myself I can see what the deal is for Virgin.

Realistically gym memberships are going to turn over very frequently and the £80 a month fee they collect is always likely to be cancelled after a short term.

By tying up with Vitality Life, Virgin will probably collect much more £40 fees than £80 fees and be rewarded by Vitality Life for any referrals.

The only downside I see for you is that if the policy gets cancelled in the future and you want life cover it will be more expensive for age and possible health deterioration between now and then.

If it works for you right now then that's a good thing.

Yeah I know Hoof, but I'm doing it for 30 years as I'll be making a big house move in about 3 years , so I could use it as some of the life cover for the new mortgage.

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