"With the additional pressures brought to bear by the cost-of-living crisis, your clients might want to look at how to continue with PMI cover even if it means giving up some benefits."
- Graham Singleton, National Friendly chief executive
National Friendly’s new private medical insurance product has four levels of cover available to anyone aged 18-85, including family cover, multi-person discounts and postcode ratings to help ensure fairness of premium costing.
Compliant with the care currently provided by the NHS, National Friendly’s PMI offers quick access to a range of private healthcare services, according to the level of policy purchased. This includes primary care and diagnostics, including 24/7 GP for both in- and out-patient treatments, as well as the authority to chose where this treatment takes place.
To help those unsure as to where to choose, National Friendly will provide support to help find the right medical expert and book the appointment through its guided option.
My PMI also includes full medical underwriting and ‘5-2-2’ moratorium options, which means that any condition suffered 5 years prior to the policy start date won’t be covered until the client has 2 years of being symptom-free and hasn’t made a claim. The insurer will also offer ‘switch’ terms so that the client can continue their existing exclusions.
National Friendly’s My PMI includes 4 levels of cover:
Level 1 – for quick diagnosis and out-patient treatment only. The cheapest of the four options, offering access to private GPs and consultants, scans, tests and therapies, plus a few minor operations.
Level 2 – for in- or day-patient treatment only. This level pays a £1,500 per person allowance for scans and £1,000 for tests each year, but focuses on more expensive treatments, typically for cancer and operations.
Level 3 – out-patient and in- or day-patient combined. This level has the same out-patient and diagnostic and treatment cover as level 1, limited to £2,000 or £5,000 each year, plus up to £1 million a year in- and day-patient cover for operations and cancer treatments.
Level 4 - out-patient and in- or day- patient combined. This level affords the same benefits as level 3, but with no overall monetary limits for out- or in-patient treatment. It also has a few additional benefits, with stem cell and bone marrow treatments permitted for cancer, and some value-added benefits such as health checks and taxi fares.
National Friendly’s launch comes after a record 2.6m increase of people sat on the NHS waiting list since the start of the Pandemic.
Commenting on the launch, Graham Singleton, National Friendly chief executive, has said:
“We’re really proud to present My PMI. From economical to elite options, My PMI has something for everyone. Arranged in 4 easy to understand levels to help meet with the unique needs and budgetary requirements of our clients.
“New clients may want to know how to cover things they’re most worried about at a price they can afford. Some cover is better than none after all. And some older clients might want to prioritise access to the latest medical technology and treatments, over cost. Advisers told us that they wanted to be able to offer their clients this kind of flexibility. We listened and we delivered.”
