Defaqto has revealed that private medical insurance following the PruHealth approach can result in premiums up to 44 per cent cheaper than the competition.
The research company says when it compared the first year premiums of five key PMI providers – PruHealth, Axa PPP, Norwich Union, Bupa and Standard Life – first year premiums can vary by up to £500 a year.
PruHealth commissioned the report to mark its two year anniversary. It found that a woman in her twenties who actively manages her health could save up to £315 per year with PruHealth with monthly payments of just £42.45.
This is compared to premiums for equivalent products of £68.76 with Axa PPP, £62.36 with Standard, £55.54 with NU and £52.92 with Bupa.
PruHealth chief executive Shaun Matisonn says: “PruHealth offers a healthy lifestyle discount of up to 30 per cent off the first year’s premium for new members. Beyond year one, PruHealth has a reward system called Vitality which allows its members to earn points for looking after their health.
“This means that the most active policyholders could get up to 100 per cent of their year one premium back towards year two if they do not claim. This system is unique to PruHealth in the UK and is based on the highly successful Discovery model in South Africa.
“This ‘prevention rather than cure’ method is proven to help people change their lifestyles for the better – as well as providing them with the peace of mind of a ‘traditional’ health insurance policy should they need it.”