Western Provident Association (WPA) has launched a new midrange PMI policy. The product, called Rowan, complements the company’s fully comprehensive policies, Oak and Cedar, and its budget plan, Poplar.
Spokesman David Ashdown said that it was launched in response to IFA feedback. He added: “Many people want the reassurance of full cover, but will go without the bells and whistles to save on cost.”
Rowan includes in-patient treatment, MRI/CT scans and radio and chemotherapy. It will pay up to £250 towards outpatient consultation and up to £150 towards physiotherapy, osteopathy and chiropractic care. The more comprehensive policies do not offer these restrictions on out-patient services.
But the cost savings are significant. A single man, aged 25 and living in London would pay £342 a year for a Rowan policy. The same individual looking for more comprehensive cover under a similar Cedar policy would pay £686.
Ashdown added: “People really can get pretty comprehensive cover for a very reasonable rate.”