Impartial reviews on the latest products and how they can impact consumers.
January 2020 VitalityLife: Later Life
There are two elements to what Vitality is now offering for those looking for some cover to help with care and care fees when they are older. First, is a Plus version of the Dementia and Frail Care Cover (DFCC) option, which was launched in 2018. The option gives customers the opportunity to convert their Serious Illness Cover (SIC) plan later to provide a cash lump sum if they need long term care – or rather are diagnosed as having dementia or becoming frail. The original option cuts the sum insured to half but is free to exercise and cover…
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January 2020 April International: iPMI
April International has added a new option to its MyHEALTH international private medical insurance (iPMI) plan for Singapore. The new offering forms part of April’s established MyHEALTH Business Range and is aimed at the group and SME iPMI markets. The new Core option offers companies international cover for hospital and outpatient employee benefits, and April says means that businesses can now afford to extend international health coverage for junior staff members too. Employees are covered worldwide for accidents while, for planned hospital treatments, they can access a wide variety of private hospitals in Hong Kong or Singapore operating within April…
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January 2020 Aviva: IP
Aviva has simplified the benefit formula under its Income Protection+ policy. The new formula also means most customers can have more cover than before too. Customers can now insure up to 65% of the first £60K of their gross earnings, plus 45% of their gross earnings above £60K. The previous maximum was 65% of the first £10k, plus 55% of income between £10K and £90k, plus 45% of any income above that. The maximum benefit under the policy remains at £20K a month (£240K a year). Aviva points out that the new limits mean advisers also have an opportunity to…
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December 2019 VitalityLife: Other
Vitality has launched a cancer benefit for some of its customers undergoing active cancer treatment. Cancer Benefit Booster is a short term monthly income which supports additional living expenses incurred during cancer treatment. It is available to customers who have both a VitalityHealth Private Medical Insurance (PMI) plan and an eligible VitalityLife Serious Illness Cover (SIC) policy, and who are undergoing treatment for cancer and are claiming on either policy. Claimants receive £570 a month, plus the cost of their monthly PMI and life insurance (max £1K per month) premiums - in other words, a cash benefit plus a waiver…
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December 2019 VitalityLife: CI
Vitality has introduced or is introducing a number of changes across its product range, and this review looks at the changes to the Serious Illness product. Amongst the changes are four new conditions: • Desmond-type fibromatosis. • Myasthenia gravis. • Necrotising fasciitis. • Severe sepsis. Changes have also been made to a number of conditions’ definitions, including: • Heart attack. • Carcinoma-in-situ. • Motor neurone disease. • Brain and spinal tumour. • Third degree burns. • Guillain-Barre Syndrome. • Children’s TPD. • Children’s cover. Included is a new children’s hospitalisation benefit (which pays £100 a day for 14 or more…
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