Impartial reviews on the latest products and how they can impact consumers.
May 2013 Skandia UK: CI
Skandia Life has re-entered the protection insurance space, having temporarily exited it in August 2010 after around two decades in the market. It has done so with a new critical illness plan which includes life cover and offers terms of 5-40 years or a rolling ten year term. Some 44 conditions are covered, five having the standard ABI definition, 18 an ABI+ definition and 21 other conditions. Amongst the latter are serious accident, which pays a partial benefit after 28 days’ hospitalisation. There are 12 partial payments in total for less severe conditions, paying the lower of £25K or 25%…
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May 2013 Legal & General: CI
Legal & General has extended the cover of the Critical Illness Cover element of its protection offering from 15 April. Improvements include: A new range of benefits for Children’s cover. This pays 50% of the insured benefit (up to £25,000) on any of the insured conditions except TPD. There is a 14 day survival period and cover lasts to age 18 (or 21 if in full-time education). One claim per child and two in total on the policy are payable. In addition up to £1,000 is payable to a registered childminder if any claim is paid under the policy. Accident…
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April 2013 WPA: HCP
HCP WPA has extended its NHS Top-Up concept by adding a new tier of cover, which sits between its existing NHS Top-Up and more traditional PMI (private medical insurance) plans. The new group health cash plan offers premiums for most employees from just £12.61 a month (£151 a year) and total benefits of up to £2,000 a year. The plan’s benefits are (maximum per person covered, per year): Consultations with a specialist and diagnostic tests on GP or specialist referral. Diagnostic procedures carried out by a specialist (excluding angiograms): £1,500. Specialist charges for a colonoscopy as day or out-patient: An…
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April 2013 Passport2Health: PMI
PMI Passport2Health has extended its offering to now include cancer cover. Previously (see review in e-PR 145) cancer treatment was largely excluded. Now, the plan includes lifetime cover of £50,000 for cancer. Passport2Health says it will ensure policyholders are always aware of the funds available and the costs of any proposed treatment and will, if necessary, help with transitions to and from the NHS. Cancer treatment can be provided close to home through the NHS or in a private UK hospital or patients may choose to be treated in an approved hospital outside the UK. As before, Passport2Health’s USP is…
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April 2013 Absence Matters: CI | IP
Other Absence Matters is part of Health Claims Bureau, which has been operating in the UK and Ireland for over 25 years. The Health Trust is a new arrangement that offers a tax efficient vehicle for getting people who would not normally receive income protection or private medical insurance back to work when it isn’t a work-related injury or medical condition. The plan provides a nurse based case management system where employees are referred by HR or line managers. The nurse is trained to identify return to work barriers using the biopsychosocial model. Employers get access to the Medical Disability…
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