Third party administrator Medisure has launched a range of PMI products, Health Protector, for the individual and corporate markets.
Three levels of cover are available in the new range, Bronze, Silver and Gold, which represent budget, standard and comprehensive products. Customers can also choose to include an excess to further reduce the premium and excesses of £50 for a five per cent discount, £I00 for 10 per cent, £250 for 15 per cent, £500 for 20 per cent and £1000 for 30 per cent, are available.
Customers can select the type of underwriting used on their product: full underwriting, moratorium and medical history disregard methods are available.
For corporate business, Medisure will consider groups of two people or more.
In the corporate market it believes the products will be particularly attractive to very small companies with up to 100 lives that may be too small to benefit from true third party administration (TPA) services.
A 38 year-old would pay a monthly premium of £20.88 for Bronze cover, £29.54 for Silver and £34.27 for Gold.
The products are available from the beginning of April 2000. Existing Medisure customers who have Allied Medical Agencies or Healthcare Agencies PMI products can also transfer into the new products.
Commission is available at the rate of 10 per cent initial and 10 per cent renewal.
“This is the first mainstream product we have launched for some time and we are very excited about it,” commented Chris Moore, Medisure’s marketing manager.
“We launched travel insurance at the beginning of January which has already become a Which Best Buy product.”
Medisure is the UK’s largest provider of TPA services and, although it was launched last year as part of the Seabury & Smith group, it has more than 25 years experience in the private healthcare market.