Impartial reviews on the latest products and how they can impact consumers.
November 2011 Unum: GIP
Unum’s new plan is described as a foundation level of income protection cover and fits in with its new TV advertising campaign that promotes IP as a back-up plan. This variant on Unum’s existing Classic GIP is aimed at employers who either have not been able to consider GIP for their workforce due to cost or who have GIP, but only for the top tier of their workforce. The plan offers up to 60% replacement income with no offset for State benefits. Benefit runs to retirement rather than having a limited payment term because, Unum says, 30-35% of its IP…
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November 2011 UK Healthcare: HCP
UK Healthcare is part of the Bolton & District Hospital Saturday Council, which traces its roots back to 1813, making it one of the oldest health cash providers in the UK. As is usual, this plan’s counselling helpline is provided by a third party provider (Europ Assistance) and the customer discounts by Incorpore. The plan itself is a corporate health cash plan and it offers a choice of five benefit/premium levels, with premiums ranging from £1 to £7.50 a week (or £4.33 to £32.50 a month). The main benefits at the lowest (Level 1, costing £1 a week) and highest…
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November 2011 Exeter Family Friendly: IP
Exeter Family Friendly has taken the product formerly known as the Professional Income Protection Plan and now renamed it Income One. In the process, it has introduced a number of key changes. These include: • There is no longer a premium rating for being female. Traditionally, on long term income protection plans, (although this has not been a feature of most short term annually renewable ASU type plans) females pay 50% or more than males of the same age. However, following the recent ECJ Test-Achats ruling (see e-PR 132, April 2011), that will be outlawed from 21 December 2012. Exeter…
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November 2011 Cigna: iPMI
Cigna’s Global Health Options is a modular international private medical insurance (IPMI) plan. It is built around a core product, which Cigna calls International Medical Insurance. The core plan pays for in and day-patient treatment plus cancer treatment, maternity care and psychiatric care up to 90 days a year. Overall, the benefits are capped at £2m a year per insured person. The core plan also includes parental accommodation with children up to age 18, transplants (as a recipient), scans, home nursing and rehabilitation up to 30 days a year. One or more of four benefit options can then be added…
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November 2011 Aviva: CI
Aviva has introduced a number of changes to its existing CI plan from 17 October. The key changes are: • For two early forms of cancer—low grade prostate cancer and ductal carcinoma in situ (an early form of breast cancer)—customers receive a partial payment of 20% of the sum insured, up to a maximum of £20,000. For both, Aviva covers all forms of recognised surgical treatments, including partial mastectomy, segmentectomy and lumpectomy—an important distinction, as some other insurers only cover full mastectomy, Aviva says. If one of these partial claims is made, the policy still continues. • Enhancements have been…
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