View more on these topics

PruProtect widens SIC schemes with new conditions and cashback

PruProtect is enhancing its serious illness cover to include a number of new conditions alongside a new cashback rewards programme based on a client’s health score.

The Vitality Optimiser scheme will be offered on its PruProtect and Essentials plan and provide rewards for those who look after their health through the Vitality programme.

Benefits include an upfront discount as well as cashback each year as clients’ health scores progress through a pre-specified healthy living plan.

PruProtect’s SIC will now pay out on 166 conditions including on the diagnosis of cancers in all areas of the body and will also include cover on diagnosis of some non-melanoma skin cancers.

Typical cover has traditionally covered earlier forms of cancer in specific areas of the body such as the breast and testicles with payouts made only when the client has reached a specified level of treatment such as surgery.

The SIC will now also pay out on diagnosis of all heart attacks and strokes, regardless of symptoms or severity – the first time such cover has been offered.

Also being introduced to the market is cover for adults with insulin-dependent diabetes while children’s cover is now extended to the age of 23 years if in full-time education.

A new SIC Booster raises the payout on claims for a condition identified as having a long-term physical impact. This is increased further for clients with dependent children included on their cover plan.

PruProtect product and actuarial director Deepak Jobanputra says: “When people take out a critical or serious illness policy they expect to be covered for the most common conditions like cancer and heart attacks, no matter how severe. We’ve built the product that our clients would build.”

The scheme offers clients an upfront discount of up to 40 per cent off standard premiums based on the policy term as well as annual cashback for those who engage with the programne, up to £100 per policyholder.

Recommended

Ed-Balls-700x450.jpg

Ed Balls calls for immediate Help to Buy review

Shadow chancellor Ed Balls is calling for the Bank of England to review the second phase of Help to Buy now after the Treasury said it will be given review powers from next year. The Treasury announced earlier today that the financial policy committee will conduct annual reviews of the Help to Buy scheme every September and will […]

House-Property-Ladder-Rising-Prices-500x320.jpg

Mortgage approvals up 32% in August

Mortgage approvals in August were up 32 per cent year-on-year at £9.3bn according to the latest figures from the British Bankers’ Association. The seasonally adjusted figures show approvals rose 2 per cent from July’s £9.1bn and were up 32 per cent on August 2012’s £7bn. The monthly tally also marks a four-year high for approvals […]

The-Mortgage-Mole-700x450.jpg

The Mortgage Mole

Kill! In April Mole revealed London brokerage Coreco had employed Brian the dachshund as a broker and he can still be found tweeting at @mortgagemuttLDN. And now Dorset-based outfit Positive Lending has had a similar idea with its employment of Dexter to handle payment protection insurance claims company callers. You are probably thinking what Mole […]

MS Leader: Bubble and bubbly

Despite talk of a housing bubble forming in London last week, that did little to dampen the general mood at the Intermediary Mortgage Lenders Association’s annual bash in London last week. This year’s event was back at the Sheraton Park Lane Hotel, the same venue for the event a couple of years ago when the […]

Could Proptech revolutionise construction?

By Rebecca Murphy, relationship manager, LendInvest  The construction sector offers enormous potential when considering the implication emerging technologies could have on both existing processes and final results. While the completion of an entirely 3D-printed office block may be ‘sexier’ news than a new smart toolbelt that tracks the wearer’s location on site, each area of development […]

Newsletter

News and expert analysis straight to your inbox

Sign up