A new provider, Freedom Healthnet, has launched into the private medical insurance (PMI) market, wit...
A new provider, Freedom Healthnet, has launched into the private medical insurance (PMI) market, with a product that pays policyholders a lump sum benefit. The PMI and critical illness (CI) hybrid settles claims by paying the cost of treatment directly to the client.
Available to customers aged 18-65, the product offers three levels of inpatient cover; bronze, silver and gold, which provide an annual limit of £10,000, £20,000 and £30,000 per person, respectively.
Benefits include hospital accommodation, MRI, CT scans, tests and X-rays.
Under the scheme, policyholders can also include outpatient treatment at an additional cost. The amount of benefit available is linked to the level of inpatient cover and is £500, £750 and £1000 for bronze, silver and gold schemes. It pays out on specialist consultation and treatment fees as well as for physiotherapy up to £500.
As an added extra, clients can also opt for a pay-as-you-go critical illness (CI) plan as part of their policy.
Sarah Saumtally, marketing director at Freedom Healthnet, said: "By continually expanding and developing our product range we hope to grow the market and consumer knowledge about the cost of medical treatment."
Stephen Walker, chief executive of Medical Insurance Services, said a new provider was welcome in the PMI market: "Freedom is extending choice for consumers and that is important for the industry."
