PruProtect has launched Health Cover and Health Cover Optimiser as an innovative solution to meeting health and protection needs. They are not separate policies, but an option on a PruProtect plan. Instead of having to buy serious illness and private medical covers separately, they can be combined in one package with one application form, one direct debit, one number to call to make a claim and a 5 % discount compared to buying the covers separately. The insurance is from PruHealth.
Health Cover pays for the cost of private medical treatment for a wide range of acute conditions including day-to-day treatment, seeing a specialist or having an operation. There are three levels of cover: comprehensive, primary, and heart and cancer
The Health Cover Optimiser offers a comprehensive package of benefits in one cost efficient vehicle, saving up to 25 % compared to buying Health Cover separately. This allows you to choose how to receive the benefit from serious illness cover, as either cash or care. You can either take the lump sum from the serious illness cover, and not receive any private medical treatment, or take a smaller lump sum, and use the rest to pay for medical treatment. This provides greater flexibility at the point of claim and by cutting out the overlap between the covers, means you only pay for the cover you need. For conditions that do not trigger a serious illness claim, Health Cover would cover treatment in the normal way.
Deepak Jobanputra of PruProtect says,” Buying more than one type of cover provides greater peace of mind, but there may be overlap between the covers that increase cost. If someone needs treatment for a serious illness, they could be covered twice for the same thing, which means they could be paying for cover they do not need. Until now, the alternative has often been to opt for one or the other, a hard choice to make when in good health. That's why we have added Health Cover Optimiser as a more affordable way of getting the cover people need."