Universal Provident has confirmed it is withdrawing its Oasis Plan from the market.
The plan comprised serious illness, major medical expenses and a hospital cash component.
The Private Medical provider confirmed this withdrawal has no impact on its PMI products, which remain open and its main sources of business.
Dale Tranter, assistant group manager at Universal Provident said although the plan was "good value", the company had not seen sufficient interest in it.
Tranter added: "Most employers with PMI want to try and retain that, or if it is beyond their budget, their advisers may direct them towards a cash or major medical expenses plan. This is particularly true of advisers who are part of - or appointed representatives of - organisations where the compliance regime is very much geared towards existing products rather than a hybrid plan.
"Furthermore there is much less of an onus on advisers to look at a product that doesn't fit into one of the usual silos, from a relatively small provider in the PMI market, than there is from the likes of [biggers insurers] - although that won't stop us from trying again."
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