Impartial reviews on the latest products and how they can impact consumers.
December 2014 Globality Health: iPMI
Luxembourg based Globality Health is the international health insurance centre of excellence for Munich Health and this plan operates in conjunction with Daman – the Abu Dhabi based premier health insurance specialist in the MENA (Middle East and North Africa) region. CoGenio offers international private medical insurance (iPMI) for those in the UAE(United Arab Emirates). The plan offers a choice of two levels of coverage and two geographies – both are worldwide, and either include or exclude the USA. The plan is aimed at expatriates and is available on a group basis. The two plan versions are called Top and Plus.…
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December 2014 Ageas Protect: Term
Leading protection insurer Ageas Protect has launched this new term life plan through the Transact platform. In August, Ageas announced the sale of Ageas Protect to AIG, which is expected to complete later this year. Transact was established in 1999 and now has over £16bn of funds under direction. The plan is currently only available through Transact for an initial user group of 30 adviser firms, with a full rollout planned for 2015. The product is a life insurance contract designed for investors who want to leave a specific sum of money to beneficiaries rather than particular investments, whose value…
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December 2014 There: IP | Term
There There-in-One Plan There is a (somewhat oddly named but certainly memorable) new online protection brand aimed at direct consumers. There is part of Reliance Mutual, which traces its roots back over 100 years. There says its core values for the brand are control, affordability and trust. The There-in-One Plan (or should that be the There There-in-One Plan) is an online D2C plan which combines simple life and income protection insurance and is aimed at families. Customers can choose to have either life term or income protection insurance or both. The term life element offers sums insured…
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November 2014 ACE: ASU
ACE’s Sickpay Plus is a sickness and accident policy with a choice of deferred periods. The plan is underwritten by Ace European Group Ltd. The plan is available to UK employees, through their employer, who are aged 18-65 at outset. Underwriting is interesting in that the price of the plan depends on benefits chosen plus the customer’s age, occupation, salary, smoking status and BMI (body mass index). The underwriting process appears to take a few days, with cover only starting approximately ten days after the application form is completed. Pre-existing conditions are excluded (looking back one year, with…
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November 2014 Aegon: WL
Aegon’s new whole of life plan is aimed primarily at older people who have an Inheritance Tax liability on their death and want life insurance to cover that. However, whilst such policies should probably be written in trust, not all of them are (indeed, most of them are not Aegon reckons). Aegon’s solution is to make its discretionary trust an integral part of the application process, even if the application is online. The customer is required to sign two copies of the trust form of authority and to make an oral declaration of trust to their financial adviser (which…
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