Impartial reviews on the latest products and how they can impact consumers.
February 2018 AIG Life: IP
AIG Income Protection A key aim of AIG Life’s new IP product is to offer best in class product features and to offer early adoption services to help customers recover faster and get back to work quicker. That differentiates it from most IP policies, where the focus is often on financial benefits and cost. The new plan is available as part of AIG Life’s menu plan, which also includes life cover and critical illness cover. The new IP plan’s main benefits include: Rehabilitation support. This built-in benefit pays up to three times the monthly insured benefit and reimburses costs such…
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February 2018 PMI
Healix Health Services has long been known as a leader in healthcare trusts and has now introduced a specific stop-loss insurance designed to protect clients’ corporate healthcare trust funds from the impact of high-cost individual claims. It already offered aggregate stop-loss insurance, to provide insurance protection if total claims exceed the estimated claims fund. This cover is usually activated when claims reach 100% or 125% of the fund, although different levels can also be agreed. The new policy adds £100,000 specific stop-loss insurance to the contract so that if any individual claim exceeds £100,000, the balance above £100,000 will now…
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February 2018 Bought by Many: Other
Bought By Many's plan is European travel insurance for people with a serious medical condition. It pays up to £500,000 for emergency medical treatment only, and so and does not cover other usual travel insurance benefits such as baggage or cancellation. There is a £300 excess. Urgent medical treatment abroad or repatriation is covered (i.e. hospital or medical costs), but if the customer cancels their trip or cuts it short, for any reason, those costs are not covered. Seagoing cruises are not covered (but river only cruises are) and customers must have a life expectancy of at least six months.…
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January 2018 Royal London: CI
Royal London has introduced a number of changes to its critical illness plans and now also makes total and permanent disability (TPD) cover optional rather than automatically included. If customers choose not to add it, their premium will be lower. Three new full payment definitions have been added (full definitions shown): 1. Benign spinal cord tumour - resulting in permanent symptoms or specified treatment. A non-malignant tumour or cyst in the spinal cord, spinal nerves or meninges, resulting in any of the following: permanent neurological deficit with persisting clinical symptoms; or surgical removal of all or part of the tumour;…
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January 2018 Status Medical Insurance Solutions: HCP
This is the first product from Status Global Insurance’s (SGI’s) new brand, Status Medical Insurance Solutions, which will offer a range of worldwide medical insurance products and is the first product of its kind available to the European Economic Area (EEA). The European Health Cash Plan pays cash benefits for everyday healthcare expenses, typically those out-of-pocket costs which are not fully covered by national healthcare systems or by private medical insurance. The plan is underwritten by Astrenska Insurance Ltd. There is a simple application process with guaranteed acceptance and there are four benefit levels. The main benefits (with any annual…
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