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Standard widens health plan

Standard Life Healthcare is extending its health cash plan into the corporate market after the launch of its individual cash plan last year.

The new plan aims to complement the company&#39s existing private medical insurance schemes, providing cash payouts for a range of medical conditions and including dental and optical treatment as well as cash during periods of hospitalisation.

Groups of three or more employees can be covered at a 10 per cent discount on individual rates, with bigger discounts for groups of staff of over 100.

The company is also introducing an employee-funded voluntary health cash plan aimed at companies with more than 1,000 employees which are looking to enhance their benefit packages.

The plan includes work sickness benefit which pays out up to £400 a year to employees absent from work due to illness, with claims paid directly into their bank account.

Commission is 30 per cent initial with 5 per cent annual renewal. Premiums start at £1.38 a week for the corporate health cash plan, providing basic cover of £10 a night for hospital inpatients.

SLCH managing director Mike Hall says: “IFAs will find our cash plan a useful addition to the portfolio when dealing with both corporate and individual customers. It offers attractive extra benefits to existing or potential PMI clients, as well as a valuable contribution to the healthcare costs of other sectors of the public.”

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