The firm says the launch of its VitalityInvest will, “address the challenges of an ageing population in poorer health and concerns around the ability to fund retirement.”
VitalityInvest is in partnership with Investec Asset Management and Vanguard and has three initial products, a stocks and shares ISA, a junior ISA and a retirement plan, which will all be available through financial advisers.
VitalityInvest includes tools that combine cashflow modelling with personalised life expectancy calculations.
These, it is hoped, will allow advisers to show their customers how their state of health and lifestyle influence their life expectancy and their financial plans and how changes to lifestyle can improve their outcomes.
Herschel Mayers, chief executive of VitalityInvest and VitalityLife, said: “Solutions currently available in the investment market are not fit to adequately prepare us for the retirement of tomorrow.
“People are living longer and want more from later life, yet many don’t start saving soon enough to fund those extra years or take steps to ensure they arrive there in good health.
We believe VitalityInvest is the solution.
“It is a unique approach founded on positive behavioural change that brings together saving and wellness.
“By changing behaviour, we produce economic and health benefits that are good for our members, good for advisers, good for us and good for society. We call this shared value.
“So when people save for longer, we’ll boost their savings; when they look after their health, we’ll charge them less to invest; and when they manage their income in drawdown, we’ll add to their retirement savings.”