PruProtect has introduced a new personal insurance product which combines critical illness insurance with private medical insurance.
Critical illness insurance provides a tax-free lump sum payment when the policyholder is stricken by a defined range of critical illnesses, from a long list including heart attack, stroke, cancer, or multiple sclerosis. While some insurers have traditionally demanded that some illnesses must be of a strictly defined severity in order to validate a claim, PruProtect’s Serious Illness Cover acknowledges extreme or mild severity, and makes a proportional payout in either case. In other words, claimants for a very mild heart attack may still receive a payout, albeit for a smaller amount, where other insurers would have completely turned down their claim. The product is seen as more customer-friendly, as it is less likely that claims will be turned away.
Now PruProtect offers a combination of this critical illness cover with Pru’s Private Medical Insurance (PMI) cover, and at a discount of 25% on the private medical cover, when taken in the bundled product.
The ‘Health Cover Optimiser’ policy offers cover for a critical illness but also for medical or hospital costs. Customers can take either a lump sum payment for a qualifying critical illness, and receive no costs from the private medical insurance, or they can take a smaller lump sum from the critical illness cover, and use the rest towards their hospital costs.
Are you properly insured to replace your income for your loved ones, if you have to give up work? Use our simple critical illness planner to check how much you would need, contact us online with an insurance enquiry or ring freephone 0800 678 5929 now
