APRIL UK has partnered with Spire Healthcare to launch a private medical insurance (PMI) plan aimed at helping individuals and families bridge the 'affordability gap.'
The new ‘inSpire' plan will be launched on 14 January 2014 providing private healthcare benefits at all Spire Healthcare hospitals throughout the UK.
Example monthly premiums are £30.86 for a 25-29 year old, £41.15 for a 40-44 year old and £72.31 for a 55-59 year old.
One level of cover is available - ‘Comprehensive' which provides full in, day and out patient cover.
There is no mandatory excess, but customers can choose a £100 excess if they want to reduce premiums further.
APRIL UK marketing manager Isaac Lam said the insurer wanted to create a simple plan that was "easy on the pocket", without sacrificing "important" medical benefits.
He added: "Over the last few years, PMI premium inflation has out-stripped wage inflation. This has meant more and more people are being priced out of the market. We have spent the last year working closely with Spire Healthcare to create a more affordable plan - but one that still provides comprehensive benefits."
Lam also said the partnership with Spire Healthcare was "unique" within the healthcare industry and allowed APRIL UK to offer competitive premiums without the use of built-in no-claims discounts, mandatory excesses or financial limitations on benefits.
He concluded: "This is very much a long-term growth product for us. We have achieved genuine low premiums without the use of gimmicks or sacrificing benefits and we hope it will appeal to younger people or those who have dropped out of the market due to rising PMI prices."
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