View more on these topics

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.”


Staying ahead of the game

Gregor Watt talks to Richard Jacobs about how he created his business, his views on the the current issues in the market, keeping upbeat about the future, bringing in new blood and operating in the investment arena

Retirement Strategy: Leader

This month, Retirement Strategy finds Personal Accounts Delivery Authority acting chair Jeannie Drake in a bullish mood about the success of the current reforms although I am sure many readers are more cautious.

Data divisions

The FSA has published a raft of data on complaints between 2006 and 2008 and Dan Waters said: “Transparency is an important regulatory tool. Publishing this information will mean consumers and firms can see how many complaints the industry receives and how it deals with them.”

Trouble ahead - thumbnail

Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 


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