Life Insurance, Date Nights and Financial Peace of Mind. One Couple’s PruProtect Story

October 15, 2014 by Georgina El Morshdy


shutterstock_173321240 (2)It’s not comfortable talking about life insurance.

So whilst you logically know it’s a good idea to have insurance, “just in case”, it’s possible you may be without cover currently. If so, you’re not alone. Let’s be honest, no one wants to think about their death – especially when you have a family that you want to see grow up. I think this is one of the reasons why conversation never quite gets around to, “which life insurance policy should we take, darling?” In addition, who wants to pay for something they may never cash in?

And that’s one of the things that make PruProtect so different.

Let me explain…

PruProtect’s life insurance cover is not typical.

For example, you don’t have to die to benefit from your policy! And I’m not just talking about gaining peace of mind here. You see, as a Pru customer, not only do you know that your family will be financially protected in the event of your death, you also gain access to a wealth of benefits whilst you live. And these valuable benefits not only save money, they reward you for being healthy too.

It’s so refreshing!

And this is one of the features that attracted Stephen and Laura.

Here’s their story…

Insurance that rewards you for being healthy

Stephen and Laura are a couple with 2 children ages 4 and 10 months.

Stephen is 32. He works full-time as a sales manager for a local retailer. Laura is 30. She’s currently on maternity leave, but is due to return to her role as a recruitment manager in a few weeks.

Like a significant number of other parents, until recently, Stephen and Laura didn’t have life cover.

It wasn’t because they didn’t want it. The reality was quite the opposite. You see, until their recent house move they were insured. The problem was their old policy was insufficient for their new financial commitments – in particular the bigger mortgage, which came with their new house.

In fact, the couple had every intention of finding new cover. It just got temporarily forgotten following the arrival of their new baby.

But with Laura’s imminent return to work, the couple refocused on their financial situation and realised they needed to address the lack of life insurance. The large mortgage, bank loan, credit cards and two kids made it too important to ignore.

Life insurance that covers your financial commitments

In total, Stephen and Laura’s financial commitments amounted to around £220,000. This figure is made up of their mortgage, a bank loan and credit card debts. The couple wanted life insurance that would cover this debt to ensure the children and surviving partner could live debt free.

As a result, Stephen and Laura chose to take out £250,000 of joint life insurance and £50,000 of serious illness cover. They also wanted cover on a level basis over a 25-year term. This means that the amount of cover remains the same for the duration of the term, instead of declining over time.

Laura heard about PruProtect Vitality through a friend. The PruProtect policy, which they chose, will pay out £250,000 should either of them die. In addition, the policy includes £50,000 for serious illness. The cost of their policy for the level of cover described is £44.10 a month.

When asked why she wanted serious illness cover too, Laura said,

“It’s not a nice thought, but we also wanted to take out at least some serious illness cover because if either of us had anything like cancer, stroke, a heart attack or any other serious illness that meant we had to give up work, then at least we wouldn’t have to struggle to pay our bills each month because the insurer would pay out for those kinds of eventualities.”

Life insurance and date nights!

Stephen and Laura were attracted to the PruProtect Vitality Optimizer due to the wide range of health related benefits. Both Laura and Stephen like to keep fit and they both enjoy going to the cinema. Now their cover is in place, they’re planning to join their local Virgin Active gym where they can save 50% off the monthly membership fee. Interestingly, the amount they save on their monthly gym subscription is nearly the same as the cost of their life insurance. So you could say the life insurance is free!

In addition, Stephen and Laura plan to make good use of the free weekly cinema ticket, which PruProtect Vitality Optimiser customers also receive. And with a £15 saving for each date night, they can afford to go a little more often.

Become more health aware

Laura and Stephen have both taken advantage of the £15 health checks at their local Lloyds Pharmacy. As a result of this test, Stephen was surprised to discover he had slightly high blood pressure. With support from the PruProtect membership site, Stephen is aiming to reduce that over the next few months with a healthier diet and regular trips to the gym to help shed some weight.

As a result, Stephen and Laura have found themselves more motivated to take care of their health. They are excited about collecting their Vitality points and aim to fully engage in the scheme so they can earn points and get to the highest level ‘Platinum’ by the end of the year.

Stephen said,

“Initially £44 a month sounded a lot to pay for an insurance but when we thought about the savings it was a no-brainer because we’re both already doing things that we can now either do for free or save money on. The insurance will probably save us about as much as it’s costing per month, if not more which is pretty good.”

What’s your PruProtect story?

Life insurance doesn’t have to be for the worst-case scenario. With PruProtect, you can proactively improve your health and wellbeing and get rewarded with a host of valuable benefits. If you’d like to discover if PruProtect is right for you, simply get a quote. And for more information about the PruProtect Vitality programme, CLICK HERE.

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