Burgesses Sickpayplus
HEALTHCARE INSURANCE REPORT - 1ST OCTOBER 2004
The second Burgesses plan to be reviewed this month, Sickpayplus pays up to £2,500 a month (or 75% of gross monthly income if lower) for up to either 12 or 24 months in the event of disability beyond 30 days.
The plan is available to UK residents (including those resident in the Channel Islands and the Isle of Man) aged 18-64 who are actively working, in good health and who know of no impending disability.
The plan cost £2.50 a month per £100 a month benefit for up to 12 months and £3.00 for benefit payable up to 24 months. There are no loadings for age, gender occupation or smoker status. The plan is underwritten by Compass Underwriting on behalf of certain underwriters at Lloyd’s.
Exclusions are AIDS/HIV; deliberate injury; stress etc unless a specialist certifies that this prevents working; pre-existing conditions; pregnancy etc (expect that medical complications arising there from are covered); back-related conditions unless there is radiological or wound evidence or a specialist confirms that it prevents working; medically unnecessary treatments; war etc, and radioactive contamination. The plan can be bought online.
Comment: We are not great fans of short term income protection policies unless they are combined with long term policies too but of its type this plan is well-priced, while its ‘non-discriminatory’ pricing will appeal to those how are traditionally disadvantage by long term income protection plans. The plan is fully ABI compliant.
