Standard Life Healthcare launch new health insurance plan for those over 55

Standard Life Healthcare is launching a new product tailored specifically to the over 55s, making it easier and more affordable for them to access private medical insurance .

 

EspritHealth is launched on 1 January 2006 with special features that make it simpler for over 55s to switch insurers for a better deal, or even to consider taking out insurance  for the first time.  The insurer says that  premiums  are up to 60% less than the company’s popular Primecare product,

 

Benefiits include

 

The insurer did some research into this sector. This shows that people over 55 are more likely to maintain a healthy diet to keep themselves fit and well .26% admittiwed to doing more to achieve this than their children. According to the insurer, 78% of over 55s walk regularly for fitness and 62% moderate their alcohol intake. One in five dance or work out at the gym for fitness, while one in ten jog. To help them, the policy includes a Health and Well-being Service available free with all policies.

 

Chief executive Mike Hall said: ‘This shows the passion this generation has for good health, and at Standard Life Healthcare we are keen to support, encourage, reward and protect good health and wellbeing.  EspritHealth encompasses that ethos at an affordable price, which we know is a particular issue as people get older.’

 

EspritHealth provides full cover for eligible in-patient and day-patient treatment.  To keep premiums low, it provides a limit for out-patient cover and does not cover pregnancy cover, psychiatric care or alternative therapies.  There is a £500 allowance for out-patient treatment.

 

A lower cost version,  EspritHealth Saver has an allowance of £350 for out-patient treatment which must follow within nine months of related in-patient or day-patient treatment covered by the policy. 

 

Esprit Health and Esprit Health Saver Both policies have a six week wait option and premiums can be reduced further by choosing an excess of £100, £250 or £500 per claim.

 

According to the Office for National Statistics the UK has 20 million people over the age of 50. One in every six people is  over the age of 65 and 12% of the population over. A combination of a decline in the fertility rate, a  decrease in the mortality and the baby boomers of the 1950s and 1960s will ensure the proportion of the population over 50 will continue to rise for at least the next decade .