Double Benefits in Private Healthcare Contracts

Private healthcare providers are luring customers with attractive deals that bundle medical cover with long-term income protection or term insurance, offering significant discounts to those who take out both products. Clinicare's recent partnership with Friends Provident is a prime example, offering a basic medical cover package at a 35% discount when combined with the company's permanent-health insurance. Similar packages are already available from Western Provident Association and Swiss Life, offering lower premiums to those who purchase both term insurance and medical-care insurance together.

Key Takeaways:

• Clinicare's partnership with Friends Provident offers a basic medical cover package at a 35% discount when combined with Friends Provident's permanent-health insurance.
• Western Provident Association and Swiss Life offer a joint plan that reduces premiums by 30% when term insurance and medical-care insurance are purchased together.
• Insurers often conduct medical checks before accepting customers for permanent-health contracts or term insurance, as people who have been accepted for these plans are deemed to be better risks.
• Many private healthcare providers, such as Bupa and Clinicare, are offering combined packages that include income protection and medical cover, often with discounted premiums for customers who take out multiple policies.
• PPP, a mini-conglomerate offering dental care, investment plans, and health-screening services, provides discounts to customers who take out multiple policies, including a 20% discount on health insurance for DenPlan subscribers.
• Discounts and special offers in private healthcare contracts can be attractive, but customers should carefully review the small print before committing to a policy.

Statistics:

• 6.5m people are covered by private healthcare providers in the UK.
• Western Provident Association holds 8% of the healthcare market.
• Bupa holds more than 50% of the market.
• Clinicare and Friends Provident offer a two-in-one package that reduces premiums by 35% for customers combining medical cover with permanent-health insurance.
• PPP subscribers who take out dental insurance can get a 20% discount on health insurance.

Sources:

• The Sunday Times, 1994
• Clinicare press release
• Friends Provident press release
• Western Provident Association press release
• Swiss Life press release
• Bupa press release
• PPP press release