Impartial reviews on the latest products and how they can impact consumers.
December 2015 AIG Life: Later Life
AIG has entered the pre-funded long term care insurance (LTCI) market with a whole of life product with a built-in care component. The plan is available for sums insured up to £400,000, and 75% of that can be set up as care cover. Care cover pays out a tax free cash lump sum if the customer is diagnosed with a medical condition which results in their becoming permanently unable to complete three or more everyday tasks. Those tasks are set out by AIG in the plan’s terms and conditions. Care cover pays out too if the customer has severe cognitive…
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November 2015 The Exeter: PMI
Newly renamed The Exeter (it was previously Exeter Family Friendly) has introduced a number of changes to these two income protection (IP) plans. The changes include: A new two year maximum claim period option. A fixed benefit option to guarantee a level of income at claim. The maximum age the plan can run to has been increased to 70. One month’s free premium (which applies across The Exeter’s product range). Comment: These are not major changes, but they do improve the plans’ appeal and offer practical advantages too. Many IP plans now offer short benefit period options and adding a…
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November 2015 Ellipse: Other
Ellipse has discontinued its group income protection product, Intact, and replaced it with this new product for firms with up to 300 employees. The plan provides an online absence management system, TeamSeer, to work alongside long term disability (income protection) insurance for employees. TeamSeer is a cloud based application, which allows employees to record both sickness and planned absences (such as holidays). Ellipse’s case management team then receives an automatic notification when sickness absences reach a period of four weeks (or sooner in some cases). This enables early intervention and rehabilitation services to be provided as soon as possible. The…
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November 2015 Punter Southall: Other
Punter Southall has introduced a GP surgery app, through Medical Solutions UK Ltd. The Med24 Service app provides 24/7 telephone access to UK based practicing GPs. The app also offers an e-consultation facility and the option of private prescriptions, with medication delivered directly to home or work, as well as referral to specialists where appropriate. Users also have access to an extensive medical library of medically validated fact sheets, covering more than 1,100 health conditions, treatments, travel advice and immunisation. A member can store their own medical information and also gets access to a useful symptom checker tool. Medical Solutions…
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November 2015 Medex Protect: IP
Medex Protect’s new plan simply reimburses employers the £88.45 a week they pay as Statutory Sick Pay for 27 of the 28 weeks that the benefit is paid. The benefits starts to be paid from day seven of the period off sick. In addition, the plan pays for up to two private GP consultations per employee per annum. These are delivered face-to-face by the Dr.Now secure app. Also included are telephone consultations with specialist occupational health nurses (with detailed reports and advice provided to the employer), an employee assistance programme, face-to-face consultations with occupational health physicians (again with reports provided…
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