April UK Cancer Cash Plan
A short and simple review this… April UK has enhanced its SME private medical insurance (PMI) proposition by adding on free cancer cover. It will now pay out £10,000 through its complimentary Cancer Cash Plan upon diagnosis of a new cancer.
The benefit is available to all main employees of group schemes with 3-9 members, provided they are between the ages of 18 and 64.
The benefit is part of April UK’s Key Partner programme, which was also launched in July. This means the benefit only applies if the policy is taken out through one of the broker partners.
Comment: Getting a cancer diagnosis is most people’s worst fear. Modern treatment means that more than 50% of those will live for more than five years (a big improvement, but still not great news for the almost 50% who don’t) but significant costs can also arise (loss of income, loss of opportunities, travel costs etc). Therefore a cash lump sum is likely to be very welcome in such situations. Critical illness cover can provide that, but most people and most SMEs don’t have such cover. A £10,000 payment is not a perfect solution, but it is still a significant sum and will be very welcomed. The fact that it is provided free is the icing on the cake.
The downside is that you have to be part of April UK’s Key Partner Programme to get the benefit for your SME clients. Our rating applies just to this add-on benefit.
Plus points: Free £10K cancer cover for SMEs who buy April UK PMI through a broker who is part of the Key Partners Programme; It’s free.
Not so plus points: Only applies to Key Partner brokers; And only to SMEs; No option (yet) to increase cover above £10K or to include other critical illnesses.
Website: http://www.april-uk.com.
Rating (max 10): Innovation: 8. Overall: 9. Platinum
Tags: PMI; April UK.