Impartial reviews on the latest products and how they can impact consumers.

National Friendly Long Term Care Annuity

February 2020 National Friendly: Later Life


Through a partnership with Eldercare Solutions, the Long Term Care Annuity is a long term care insurance policy underwritten by National Friendly. In exchange for a single lump sum upfront, the plan pays a monthly income towards the customer’s care fees for the rest of their life. The cost will depend on the income they want to get each month (usually, the difference between the cost of care and the customer’s income from all sources, including pensions, savings and State benefits), their age, state of health and life expectancy. If paid direct to the care provider, benefits are tax free.…
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Vitality Dementia and Frail Care Cover Plus

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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April International MyHEALTH for Singapore Core

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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Aviva Income Protection+

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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Vitality Cancer Benefit Booster

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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