"Hospital Plan" Disabling Injuries Protection Plan

Alvy_Singer

Hi there,

I currently pay around nine pounds per month to "Hospital Plan", for a 'Disabling injuries Protection Plan'. This apparently provides a cash payout on a scale from two-hundred pounds (e.g. broken arm) up to five-hundred thousand pounds (i.e. total and permanent paralysis of all limbs) , depending on the severity of the injury.

Do any of you have experience with this company, or this type of plan, and do you think it is worth it? On the one hand I feel like I have a little Martin Lewis on my shoulder shouting: "You imbecile! These things are a con!" Yet, on the other hand I'm thinking, 'well most people DO have accidents and injuries (often several) in the course of their lives', and it is only nine pounds per month, after all, for what could be a large (and Heaven sent) payout in times of trouble.

What do you think?

dunstonh

Do any of you have experience with this company, or this type of plan, and do you think it is worth it?

Do you mean Hospital Plan Insurance Services or that it is a Hospital plan from xyz insurer?

Either way, I hate these policies. The are a cash cow for the insurance companies.

Yet, on the other hand I'm thinking, 'well most people DO have accidents and injuries (often several) in the course of their lives', and it is only nine pounds per month, after all, for what could be a large (and Heaven sent) payout in times of trouble.

£9pm = £108 p.a. You may have a claimable event once every 20 years. So you would have paid in £2160 in premiums to get back a couple of hundred.

You have more chance of claiming on a life policy (or your family do rather) than on one of these. Also, if you are off work for 8 weeks for breaking a leg and get paid £200, do you really think that would help much?

I know someone that damaged a tendon in a hand and lost use of a finger. That woudl be a £5000 pay out. The insurer was happy to pay out but when, after seeking clarification from a doctor that she was going to have a tendon taken from her big toe to replace the one in her finger, the insurance company refused to pay out as use of her finger would return to above a certain percentage. Also, they wouldnt pay out for loss of use of a toe, even though that was only £2000 as it was treated as a voluntary injury. That person "used" to sell these policies and thats how they treat their staff.

Alvy_Singer

Thank you for such a detailed reply, dunstonh.

That's given me a lot to think about, and also confirmed some of my own thoughts and reservations.

Cheers,

Alvy