Critical Illness - Skandia or Bupa??

OshayAway

Wutang wrote: »

Can you not read the key features?

In fairness to the OP, the key facts document only lists the conditions covered, not the quality of the cover i.e. the exclusions imposed.

Another good reason to take advice from a whole of market protection adviser who knows how the various plans differ and back up their recommendation.

somewhatnew

Reading the Key Facts for the Pru Protect is such a headache - its huge! Has anyone ever attempted the technical guide in one sitting?!

One of the very positive things about the Pru Protect is their buy back option. BUPA do have buy back but it can only be done once.

With Pru if you claim you can keep buying back the cover, they call it their reinstatement option i think (you have to pay extra for this but if you want quality this is worth every penny). There was a chap in South Africa who claimed on his Discovery (Pru Protect) policy 6 times in full! His health wasnt too great by the end!!

walldanzig

Firstly I would say seek financial advice as a broler would be able to cover most of this off for you. Secondly as far as reccomending companies based on conditions covered this is a big no no the place to look is the payouts the companies make Aviva paid out more than anyone last year yet have a lower amount of conditions than Bupa the same with L&G. The numbers game is there to confuse and should not be used to reccomend a product only a poor adviser would do so.

The_silver_surfer

walldanzig wrote: »

Firstly I would say seek financial advice as a broler would be able to cover most of this off for you. Secondly as far as reccomending companies based on conditions covered this is a big no no the place to look is the payouts the companies make Aviva paid out more than anyone last year yet have a lower amount of conditions than Bupa the same with L&G. The numbers game is there to confuse and should not be used to reccomend a product only a poor adviser would do so.

Did Aviva not pay out more because they have more policies than everyone else though?

or

Are you payout figures per policy or even better per certain amount insured? If so i would be very interested to see them as i would be surprised if this were the case.

Just because someone pays out the most to all its members doesn't make it the better insurer. As it may have twice as many polices sold as many of the smaller providers. With critical illness Its the individuals chances of getting paid out that matters most. + the premium payable..

If an insurer covers say 37 listed conditions (i.e. Bupa) covered then it cannot duck out of paying one those 37 listed conditions as they would not have a leg to stand on legally without very good reason i.e. someone blatantly lied on their application form about their medical history and that their condition had been disclosed then it would have been excluded from cover/the premium would have been loaded ect

If another insurer covers say 24 listed conditions (i.e. Aviva) its far easier for that insurer to wriggle out of paying out as what you are claiming for may not be one of their listed conditions.

Pruprotect go a stage further than Bupa and cover 94 conditions (on their Primary cover) 154 (on their comprehensive cover) but its on a severity basis. i.e. if i have lung cancer i get the full £100K if a milder skin cancer £10,000 - £20,000. Many people like this idea as you are far more likely to get a payout and the premiums (on primary) are about average. Yet your covered for so much more.

Does this make me a poor adviser?

benjamin.a

I also sell protection from Skandia, Bupa, Bright Grey, Scot Prov and PruProtect (to name a few)...
My personal cover is with Pruprotect... The silver surfer is right, Pruprotect offers the most comprehensive cover. *Opinion*
However... (this is where it gets confusing)...

Although Pruprotect offer a severity based model and yes, you are more likely to get a payout, they can fall short on some definitions.
The 3 main claims are Cancer, Stroke, Heart Attack.
A heart attack will (generally) pay out the whole amount on a Bupa/BG/SP policy... but it may only pay 50% of the plan account with Pru.

So... you are more likely to get a payout with Pru, but it may be less than what you might have got with a more traditional plan.


SOMEWHATNEW -
the reinstatment option is called MPA (minimum protected account)
Yes, you can claim multiple times but only 3 times your plan account e.g. CI is £50,000... maximum claims are £150,000 until the policy ceases.

dunstonh

Whilst CI stats have improved, it is known that Aviva are pre-vetting claims over the phone and those refused at that point (usually for not being covered) are not included in their claims stats. So, you would expect their claims stats to be higher than others that dont do that.

Andrew24620

"If another insurer covers say 24 listed conditions (i.e. Aviva) its far easier for that insurer to wriggle out of paying out as what you are claiming for may not be one of their listed conditions. "


Erm, a bit of a cheap shot.

If a condition is not covered, the person insured hasn't paid for that condition to be covered - so the benefit isn't payable is it?

If you insure your car third party only, don't expect the insurance company to give you a hand out if your car gets nicked!

The_silver_surfer

Andrew24620 wrote: »

"If another insurer covers say 24 listed conditions (i.e. Aviva) its far easier for that insurer to wriggle out of paying out as what you are claiming for may not be one of their listed conditions. "


Erm, a bit of a cheap shot.

If a condition is not covered, the person insured hasn't paid for that condition to be covered - so the benefit isn't payable is it?

If you insure your car third party only, don't expect the insurance company to give you a hand out if your car gets nicked!

If you want advise people that they should go "third party" (your words not mine) when for almost the exactly the same price you can get "fully comp" then thats your business.

I've just quoted for myself on life + crit and Pru were only £1.05 per month more than Aviva and there were many other insurers slightly cheaper who cover more conditions than the 20+ Aviva cover. Try it for yourself.

Your argument doesn't hold water i'm afraid. A bit holey to say the least. :cool:

1templeton

If you want a look at comprehensive cover then check out Pruprotect also. Probably more expensive but the list of conditions is unrivalled.

k.enzo

Hi 1templton,

Perhaps you can find some information on news-insurances.com, I was looking for cancelling or renewing insurance information and I found it on this website.

They provide insurance guides and tips.