View more on these topics

A Personal Health Solution from BCWA

BCWA Healthcare has introduced Personal Health, an individual private medical insurance plan offering a mix and match range of five benefit options.

Option one covers out-patient tests and consultations, option two covers acute surgery, option three is for complementary therapy, option four provides cover for cancer treatment and heart conditions while option five features cash benefits for optical and dental treatment.

Policyholders have the flexibility to choose one or more options to suit their needs and can alter their choices at any time.

An interesting feature of the plan is that it uses BCWA’s new claims handling and customer care service. This is called Service + and is intended to keep costs low and paperwork at a minimum.

Although there are no excess options to reduce costs, there is a low-claims discount of up to 50 per cent. This is designed to reward long-term customers who make fewer claims. All new members start off with a 25 per cent discount, which will increase by 5 per cent for each year that claims amount to less than a third of the premium. By the same token, if claims are higher than 66 per cent of the premium, policyholders will lose 10 per cent of their discount.

Service + was piloted in late 2005, with the aim of providing a personal service to policyholders while speeding up the decision making process to reduce costs. Medical costs are also reduced by Boca’s negotiation of the best rates for policyholders and arranging hospitals within 35 miles of the policyholder’s home.

This product manages to stay relatively simple despite its mix and match approach. However, the absence of an excess option and the £50 lifetime limit for the treatment of cancer and for heart conditions may disappoint some people.


iFunds hunts for commodity ETFs

iFunds, a franchise of Raymond James Investment Services, has crought out the MFM iFunds ETF Commodity Fund, a fund of funds investing mainly in exchange-traded funds.

IFAs split on sits charge

Matt Goodburn finds mixed feelings among advisers after Fidelity lowered the initial fee on Anthony Bolton’s fund

Raid review

The figure dwarfs previous estimates, which put the damage to pension schemes, caused by the Chancellor’s decision to remove advanced corporation tax relief from equity dividends in 1997, at 40bn-50bn.

Pru and NU slam WP claims

Actuary AKG’s claims that the with-profits is fatally wounded and advisers will struggle to sell the product have been shot down by Prudential and Norwich Union. AKG say surrenders are continuing because with-profits have become “toxic words”. But Prudential head of investments Andy Brown says this is nonsense and AKG is generalising across the board. […]

Inheritance tax and estate planning – exemptions and reliefs

By Kim Jarvis, technical manager with Canada Life’s ican Technical Services Team In this article we look at the main exemptions and reliefs that are available on death. Within the article, spouse also means civil partner.   Nil-rate band Under current rules, any part of the estate that falls within the available nil-rate band (NRB), […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm