Universal Provident has launched a new combined protection and health insurance product aimed at customers forced to reduce their cover limits.
The Oasis policy combines health cash plan, critical illness and hospital stay benefits.
Its health cash benefit pays a cash sum of up to £5,000 depending upon the procedure required or condition suffered.
The critical illness element pays up to £15,000 should the client suffer from cancer, heart attack, stroke or bacterial meningitis and the hospital plan pays a cash sum for each night spent in hospital after the first three.
As with most of Universal Provident's range, the product is underwritten in-house.
Oasis is available on both an individual and group basis, with commission at 15% of the premium, net of insurance premium tax.
Dale Tranter, assistant underwriter at universal provident, said: "The plan could be appropriate for clients who would like PMI but are struggling to afford full cover.
"And it is also a suitable downsizing product for existing clients struggling to continue to afford PMI."
