Norwich Union has introduced its individual cash plan, a healthcare cash plan that offers cash benefits towards the cost of travel vaccinations.
The cash plan has five levels of cover available to single people, couples and families, including lower premiums for single parents. Premiums for single people range from £6 to £30 a month. Couples pay between £8 and £40 a month, single parents pay between £8 and £40 a month, while family cover costs from £10 to £50 a month depending on the level of cover required.
The plan includes benefits for dental and optical treatment, out-patient treatment, hospital in-patient and day case admission. However, the full range of benefits is not available on all levels of cover. Benefit for travel vaccinations is only available from level three, while the benefit for a parent accompanying a child to hospital is only available for families from level two.
Legal & General's essentials cash has three levels of cover available on a single or family basis. Premiums range from £11.50 to £23 a month for single cover and from £22 to £37 for family cover. This is limited and more expensive compared to Norwich Union's cash plan, but the lower levels of cover with Legal & General offer more generous benefits than the lower levels of cover with Norwich Union.
For example, Legal & General offers 100 per cent of the cost of optical care up to £50 for level one and £75 for level two, while Norwich Union offers 100 per cent of costs up to £40 for level one and £60 for level two. Both plans offer the same benefit of £100 for level three. Legal & General also include benefit for hospital day care from level one, whereas Norwich Union offers this only from level three.