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Major overhaul for Pru Health

Pru Health is making changes to design, pricing and the Vitality programme for its corporate, SME and individual plans.

The shake-up includes an amended list of partner hospitals and a new option of local hospital coverage only. Pricing changes include the removal of the profit-share option on the SME plan and a new risk-based pricing model. Renewal increases will be capped at 25 per cent of the previous year’s premium. For individual plans, a no-claims discount scheme is offered.

Pru’s overhaul of the Vitality programme includes changes to the the thresholds for the different statuses and the way that points can be accumulated. The maximum discount for partner gym membership has been capped at 25 per cent. From January 1, 2010, all new and renewal business will be on the new terms.

Sales director Dave Priestley says: “The changes are designed to ensure we offer access to the Vitality benefits most valued by policyholders while remaining highly competitive on private medical insurance pricing and making the Pru Health offering affordable for members across all Vitality status levels.”

Highclere Financial Services partner Alan Lakey says the changes to the discounts on gym membership will make it less appealing.

He says: “Pru Health is a good contract but it risks alienating IFAs by constantly changing the details.”

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