View more on these topics

HealthSaver offers pay as you go cover

THE PRIVATE HEALTH PARTNERSHIP

HEALTHSAVER

Type: Budget individual private medical insurance

Minimum-maximum ages: 45-79

Minimum premiums: Selected self pay level £1,500 &#45 £42.19 level 1
hospitals, £33.70 a month level 2 hospitals, selected self-pay level
£3,000 &#45 £31.10 a month level 1 hospitals, £25.54 a month level 2
hospitals, selected self-pay level £5,000 &#45 £25.32 a month level 1
hospitals, £21.30 a month level 2 hospitals

Maximum benefits: No maximum for inpatient and day patient
benefits, outpatient benefits except minor surgical procedures
subject to individual limits

Cover provided: Inpatient/day patient benefits &#45 accommodation and
nursing, operating theatre fees and consumables, drugs and
dressings, prosthesis, consultants&#39 fees, x-rays, scans, anesthetists&#39
fees, doctors&#39 fees, physiotherapy. Outpatient benefits &#45 specialist
consultations before hospital admission up to £500 a year, specialist
consultations after hospital discharge up to £250 a year, diagnostic
tests up to £500 a year, scans and other high cost tests up to £1,000
a year, physiotherapy, chiropody or osteopathy up to £300 a year,
minor surgical procedures paid in full, radiotherapy/chemotherapy up
to £15,000 a year, private ambulance up to £200 a year, hospice
donation up to £250 a year

Excess: £1,500, £3,000 or £5,000

Commission: None

Tel: 01943 855411

The Private Health Partnership&#39s HealthSaver plan is a self-pay
private medical insurance plan that is aimed at 45 to 79-year-olds.
The excess of either £1,500, £3,000 or £5,000 is paid at the outset
and will go into a savings account that pays a a variable rate of
interest and a bonus rate of 0.75 per cent.

Berwick Devoil Healthcare managing director Guy Jones thinks the
concept is a good idea but says there are cheaper and more flexible
products around, such as Western Provident Association&#39s self pay
protect and X/S health plans.

Jones believes that although the product is an example of innovation
using ideas already in the market, ultimately it offers nothing new. He
adds: “I like the product concept as it gives people the chance to go
privately for treatment, pay for it themselves and have a maximum
liability. But Western Provident Association and several other
companies introduced big excess schemes several years ago. This
product from the Private Health Partnership just gives you
somewhere specific to put the rainy day fund, as there is an
investment element to the policy.”

Jones concludes: “The Private Health Partnership is a broker that is
owned mainly by Skipton Building Society but it could be considered
as a non-independent broker now. There is no commission payable
on this product so I believe it will be sold as a financial services
product, not a general insurance product.”

BROKER RATINGS:

Suitability to market: Average
Flexibility: Poor
Premium rates: Poor
Overall 3/10

Recommended

Woolwich maximises returns

Woolwich Plan Managers has established the premium protected growth plan, a guaranteed equity bond that provides a minimum return of investors&#39 original capital after five years and six months. The bond is linked to the FTSE 100 index and investors will also receive 100 per cent of any increase in the index at maturity.To calculate […]

Mortgage club anger over Brain promotion

Mortgage clubs are furious after Mortgage Brain sent a letter to its users promoting Mortgage 2000&#39s mortgage club. The letter, which is headed with Mortgage Brain&#39s logo and signed by head of marketing Claire Kennedy, was sent out at the beginning of November. It invites users to sign up for an exclusive mortgage club, 1st:Source, […]

New disclosure will add massive data burden

Another massive regulatory upheaval among financial advisers is in the offing next year when the rules for the so-called menu card (CP166) full commission disclosure are published. A full policy statement on CP166 is due in April 2004 but it is already clear that the FSA-favoured approach is to offer consumers a detailed comparison of […]

Liability and Unipass

I refer to the article, IFAs face potential £15,000 personal liability with Unipass (Money Marketing, November 27). The article is misleading in that it wrongly suggests that IFAs using Unipass under any circumstances are putting themselves at financial risk. This is not the case and I am writing to you to ensure that any IFA […]

Rayner Spencer Mills: Why we rate the Artemis Global Growth Fund

Ken Rayner and Graham O’Neill from RSM explain why they rate the fund, its investment process and how it can be used in a portfolio. The Artemis Global Growth Fund became a RSM ‘rated’ fund earlier this year. In this video, Ken Rayner and Graham O’Neill explain the fund’s investment approach, why they rate it, […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com