Exeter Friendly Society has launched a new PMI plan that offers ‘unlimited’ cover for a number of conditions including cancer.
Health Cover for Me has been designed with no moratorium and without any No Claims Discounts. Instead, it is based on a co-payment model that enables customers who wish to pay a percentage of treatment costs in exchange for a discount.
The number of exclusions on the plan has been reduced significantly from the previous PMI product offered by Exeter
Although psychiatric illness and chronic diseases are not covered, the plan does not regard cancer as a chronic condition, so offers unlimited cover for all stages of the disease, except preventative care/treatment. The plan will also cover the cost of drugs and treatments which have been approved as clinically effective by the National Institute for Health and Clinical Excellence (NICE), regardless of whether or not they have been deemed to be cost-effective by the drugs watchdog.
Richard Wyatt-Haines of Exeter Friendly Society, says “Health Cover for Me is designed to be used by customers. Limits such as moratorium and no claims discounts clauses that are features of other products on the market discourage customers from making a claim. Health Cover for Me is designed to be more transparent. Unlike other providers we do not believe in artificial mechanisms to reduce premiums such as no claims discounts that stop people claiming. What is the purpose of an insurance plan if you feel you cannot claim?"
Private medical insurance: News update: November 2008