Private medical insurance (PMI) provider Universal Provident has confirmed it is holding the vast majority of its PMI rates at its 1st July rate review.
This means that, following a similar holding of rates in January, new business rates will not have gone up for over a year.
The exception to this is the group rates for its 90-day wait (A2) module, which are being cut by 7.5%. UP gives corporate rates to the self-employed (i.e. they are rated as groups of one).
Dale Tranter, assistant group underwriting manager at Universal Provident, said: "Fixing rates again underlines our commitment to having a competitive proposition and writing significant volumes of new business."
Regarding the A2 rate cut, Tranter said: "A 35 year old self-employed person will be able to get a plan that would potentially fully cover a hip or knee replacement for just £16.43p.m. Even a 65-year old would only have to pay £22.70p.m. for a 90-day wait policy."
The figures quoted are for a single person, moratorium basis, in-patient cover only.
