34 Product Reviews
THE PRODUCT
Cash Plan Plus from Perfect Health
CASH PLANS
Perfect Health has developed this plan, which is being marketed to other intermediaries, giving them a choice to traditional insurer alternatives. Four cover levels are available (Level 1, Level 2, Level 2 Plus and Level 2 Plus Plus), with the top two including a short term “income protection” benefit. The plan’s main features (based on the top of the range Level 2 Plus Plus plan) include maximum annual benefits of:
Income protection: £1,500 a month for up to six months. There is a 30 day deferred period and no income assessment.
Dental treatment: 100% up to £150. Dental emergency: £750 (max two incidents). Dental accident: Up to £2,500 per dental incident; max £10,000 pa.
Optical treatment: 100% up to £150. Physiotherapy, osteopathy, chiropractic, acupuncture, homeopathy, chiropody and podiatry: 75% up to £300.
Specialist consultations: 75% up to £400. Up to four prescription charges.
There is also a 24/7 health and medical information and counselling helpline. The plan is available to UK residents aged 18-60 at inception. Lower levels of plan can have lower reimbursements e.g. 50% for dental and optical on Level 1 plans. Premiums cost from £16.50 a month for Level 1 and from £49.20 a month for Level 2 Plus Plus plans. Initial qualifying periods apply to some benefits.
WHAT THEY SAY Andrew Tripp CEO, Perfect Health
CEO Andrew Tripp said: “At a time when you are at your most vulnerable, following an accident or ill-health which results in hospital admission, patients and their family are faced with a series of unforeseen costs that can soon mount up when you find yourself in hospital for even a few days. The policy that we’ve just launched aims to alleviate some of the concerns that patients may have at such a time, not to mention concerns about income if you are unable to return to work immediately.”
WHAT WE SAY
“It is good to see intermediaries devising solutions to be marketed through other intermediaries and Perfect Health’s Andrew Tripp will be known to many, not least because he is also the chairman of the Association of Medical Insurance Intermediaries. “The cash plan benefits are pretty comprehensive although there are some co-
Andy Couchman FCII Cert PFS,
technical editor, Health Insurance
payments and initial qualifying periods. The income protection (we’d prefer it to be called ASU to avoid confusion with long-term income protection [IP]) only pays for up to six months, but that can be ideal if you have longer term IP cover with a six month deferred period. There are also no income restrictions. The policy wording on that benefit is also refreshingly simple too. “The plan is not cheap for top level cover (especially if a whole family is to be covered) so, as always, it can pay to shop around too.”
HealthInsurance CONTACT DETAILS
TELEPHONE 01707 266 051
WEBSITE
www.perfecthealthcashplanplus.co.uk
www.hi-mag.com August 2011 THE COMPANY
Perfect Health is an independent broker, based in Hatfield, Herts. This plan is arranged by Compass Underwriting and underwritten by UK General Insurance (Ireland) Limited.
GP services: 75% up to £150. Hospital inpatient: £65 a night up to 20 days. Minimum stay four nights.
Parental hospital stay: £25 per day/night. Post hospital recovery bonus: £400 (after seven consecutive nights)
Childbirth benefit: £200 per child. Health check/screening: 75% up to £200. European cover: up to 28 days. NHS car parking: up to £45 a day.
RATING: 8 OUT OF 10
SELECT THIS PRODUCT FOR...
Individuals or small firms who want a health cash plan that offers a bit more than usual.
PROS
✔ Good health cash plan benefits ✔ With optional short term ASU cover (with no income restrictions)
✔ Hospital car parking is a useful benefit (at least in England)
CONS
✘ Less than 100% reimbursement and other limits on some benefits
✘ Hospital benefit only pays out after more than four nights in hospital
✘ The ASU benefit is fixed and only pays out for up to six months
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