Your client could organise a traditional PMI plan that offers cover within his budget. Lower cost pr...
Your client could organise a traditional PMI plan that offers cover within his budget. Lower cost products will offer cover for premiums of between £27 and £35 per month.
Your client seems to be part of a new customer breed who wants the reassurance of PMI, but has a fixed idea of how much to spend each month. Research has shown that a growing number of people are prepared to share the risk of PMI in exchange for reduced premiums.
Some providers sell plans that offer reduced premiums with different excess levels, for example, a mix of self-pay and comprehensive PMI options. If your client is willing to pay the first £1,000 of medical bills, he could get fully comprehensive cover under this sort of policy for under £20 per month.
Such a plan would give him access to traditional and complementary therapies, use of various London hospitals and access to an information service whether he was making a claim or not. So if he needs treatment, the service can tell him what is available so he can control where and when he is treated and how much it costs. If treatment costs more than the excess, then the insurer picks up the balance.
If your client wants to contribute up to £2,500 or £5,000 towards medical bills, he could reduce his monthly commitment for PMI to as little as £11 or £7 respectively, depending on the plan. Either way, these excess levels save your client a significant sum each year to invest or save towards minor medical bills as a health fund. He may even decide to buy income protection, critical illness, or a hospital cash plan.
Whatever route your client goes down, he can put together a healthcare plan to suit his needs well within his budget.
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