View more on these topics

Peak practice

Pinnacle Insurance has introduced a healthcare cashplan for the mature end of the age spectrum. The Medex senior plan is available to anyone between 18 and 79 but the benefits are geared towards older people.

The plan has five levels of cover with premiums from £1.50 to £12 a week. It includes benefits for a hospital stay, routine dental and optical treatment, hearing aids, lump sums for recuperation and care for the elderly, funeral benefit and complementary medicine such as acupuncture and osteopathy. Free cover is provided for policyholders&#39 partners under 80.

Most healthcare cash plans cover benefits older people would never need, so the Pinnacle plan could be a useful addition to the market.

A comparison with Norwich Union&#39s new individual cash plan illustrates this point. Like the Pinnacle plan, it has five levels of cover, with premiums ranging from £6 a month to £30 a month for a single person and £8 a month to £30 a month for couples. Maternity and paternity benefit of between £200 and £1,000 for each child is provided, which older people are paying for but would not need.

However, some benefits that are relevant to older people are more competitive with NU. For a premium of £12 a month, NU pays 60 per cent towards the cost of a hearing aid up to £110. Someone paying the equivalent at £3 a week with Pinnacle would get 50 per cent of the cost up to £45. Similarly, nursing home inpatient benefit would be higher at £50 a day with NU compared with £15 a day with Pinnacle.


ABI aims to head off commission attack by Sandler

The ABI is examining propo-sals for a disclosure regime based on benchmarked or average commission in a bid to seize the initiative before the Sandler review forces the industry&#39s hand.Papers seen by Money Marketing from the ABI&#39s life insurance committee suggest “the commission offered by various providers on the same product might be disclosed, perhaps […]

Treasury fails to make EU insurance deal

The Treasury has failed to negotiate a UK exemption from EU legislation which states that all insurance intermediaries will have to become statutorily regulated.If the directive remains unchanged, it will mean the General Insurance Standards Council will either have to become a statutory regulator or the FSA will have to take over the regulation of […]

Lambeth customers get access to L&G products

Legal & General and Lambeth Building Society are teaming up to give Lambeth&#39s customers access to L&G&#39s protection, long-term savings and investment products.The partnership will allow the society&#39s customers to buy a raft of savings and investment products from fixed-interest deposits to actively managed Isas, unit trusts and pensions from the combined range of both […]

More PIA regulatory action

The PIA has taken action against two more IFA firms in what has been one of the busiest winters in recent memory as far as regulatory action is concerned.This time around the PIA has fined Wingrove Associates Assurance & Financial Consultants of Flat 7, 22 Lewes Crescent, Kemp Town, Brighton £10,000 for pensions review failings. […]

US loan growth is not painting a pretty picture for the US economy

Written by Mike Riddell One of the current big debates in global financial markets is whether investors should believe ‘hard’ rather than ‘soft’ data, where the usually reliable business and consumer surveys have been suggesting strengthening in global growth momentum for some time now, while the economic data that feeds through into the Gross Domestic […]


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