Pruhealth gym loophole Article Discussion

PMISpecialist_2

Tre-beam wrote: »

Hi everyone,
I'm thinking of joining a Virgin Active, tier 2, in November and the full membership price they have given me is £62.95 + £30.00 joining fee.

With Pru Health, the insurance premium would be £37.00 and gym fees £57 (on Bronze). I am trying to work out which one would be best overall but keep getting my calculations all wrong. I know that initially I would be paying out a fair bit more with Pru Health but not sure if this would even out?

Can anyone help please?

TIA,

TB

Yes you can get to Silver in a month platinum in three if you really go for it. email me and i'll send you the full table [EMAIL="marcnicol@pch.uk.com"]marcnicol@pch.uk.com[/EMAIL]

So if we started you in Nov 1st:

So month 1 = £94 (37 + 57)
Month 2 (silver) = £82 (37 + 45)
Month 3 (Platinum = £52 (37 + 15)

Its then £52 until your renewal date 1/11/09 and then your insurance premium goes down to say £5 for the pmi and your gym membership stays at £15 so its then £20 per month for PMI (private medical insurance) plus virgin active gym membership :j

Plus all the perks (40% off mark Warner holidays, Champneys for £35 (retail £219), Eurostar tickets to Paris, Lille, Brussells £10, Cineworld annual pass £25, Full health screen £25 (Retail £450+) etc etc

firbird

anyone know what's happening with cineworld? September's over and the "Get One Now" button on the website just shows an error message...

Tre-beam

Hi PMISpecialist, I've pm'd you.

TB

bkz187

Hi, I hope you guys can help..

I've read a few pages of this thread and the numbers are quite confusing, especially now that the scheme seems to have changed.

I am 27, a non smoker and was a member of the David Lloyd gyms from 2001 until very recently; so fairly fit already. Reason for leaving: spiralling membership costs.

I am thinking of joining the Virgin Active Gym in Didsbury Manchester and want to know they best way of making some savings.

I like the sound of having a medical scheme but dont feel the need of paying through the nose for it. Can someone please give me some figures for the 1st year?

And I was hoping to do Euro Disney next month, so I am all ears for the perks.

bargainhunter90

Just got my renewal quote 2.46 a month and then the 8.00 a month tier 1 gym fee from november = 10.46 a month for a health club :money:

David_Bicker

Hi all. Just logged on to my gym statement to check up on the visits being recorded and all appears well. However, I get the impression that the visits for the Aug-Oct quarter will not make a difference to what I pay for the Nov-Jan quarter as the predicted fee bit has gone any only shows up to 31/10/08 (last week it showed the Nov-Jan quarter as well).

Does this mean that as I am currently platinum, from 1/11/08 I will pay nothing for my membership (LA Fitness outside M25) and it does not matter if I meet the 26 visit target for the current quarter?

Can someone please confirm this?

Bargain_Rzl

Yes, this is true. As you are on Platinum, nothing you do now will make any difference to what your fees will be for the rest of your policy year. You'll go onto the new fee structure on 1st November, therefore paying nothing.

PMISpecialist_2

bkz187 wrote: »

Hi, I hope you guys can help..

I've read a few pages of this thread and the numbers are quite confusing, especially now that the scheme seems to have changed.

I am 27, a non smoker and was a member of the David Lloyd gyms from 2001 until very recently; so fairly fit already. Reason for leaving: spiralling membership costs.

I am thinking of joining the Virgin Active Gym in Didsbury Manchester and want to know they best way of making some savings.

I like the sound of having a medical scheme but dont feel the need of paying through the nose for it. Can someone please give me some figures for the 1st year?

And I was hoping to do Euro Disney next month, so I am all ears for the perks.

It can be different for everyone depending on which gym, how old they are, male or female. If you have a chronic condition like asthma or diabetes you can score alot more points too very quickly, i have assumed you haven't got a chronic condition for this example (let me know if you have).

If you joined today for example your pmi (private medical insurance) would cost: £29.28 per month for 12 months on the core plan assuming you have NOT got high blood pressure or cholesterol, (or £27.76 with a £1000 excess if you want) + gym would cost £25 one off activation fee +

£40 1st month (Bronze)
£45 2nd month (Silver) New Nov 08 rates
£ £39 3rd month (Gold)
£ £39 4th month (Gold)
£ £15 5th Month (Platinum)
It will then continue to cost £15 per month and staying at platinum is very easy.

Month 13 your insurance premium goes down to around £3.50 (assuming you haven't claimed anything on the insurance) so gym and pmi costs a total of around £18.50.

Offset some of your early costs by geting cashback i.e. if you came through myself i could give you 30% of your annual premium cashback in around 4 weeks of your startdate i.e. £29.28 x 12 = £351.36 - 5% IPT (Insurance premium tax) = £333.79 -70% = £100.14 Is your Cashback. Other members on here have gone through Topcash, Quidco etc (which i believe to be less and takes much longer), but you may wish to check them out anyway.

I can provide you plan of how to get to Silver, Gold and platinum in that timescale if you want, i have assumed that you would go all out to score the points and that means going to the gym almost every day to start with. Obviously you don't have to, but that means you'll score the points more slowly and it will cost you slightly more early on.

Eurostar
*******
If you want to go next month then i think you'll be on silver.

Bronze £75
Silver £50
Gold £25
Platinum £10

3 trips per policy year to Paris, Lille or Brussells.

There are also many many other perks.

captaindaniel

Good news we can now get our cineworld passes! ... I was sent a letter like other people saying I could stick with the old plan until my plan renews in March but I think I will be platinum by end of December and with the £30 they are giving you to switch and cheap Cineworld pass which you can't get if you stick to the old plan I think it is better to go to the new plan.

luckyfool

PMISpecialist wrote: »

I joined Pruprotect a couple of months ago and as i sell Pruhealth and Pruprotect products (among many others) get all the commission back, i'm 32 and in my case i'm paying £35.11 for £100,000 Life AND Critical Illness cover (Life cover was very cheap about £12 ish on its own), as long as i get to platinum every year my premiums go down 2.5% (compounded).
So cost of living goes up but my Pru premiums come down. By year 5 i'm paying £32.06, year 10 £28.61, year 20 £22.79, year 25 £20.33 They cover more than most life/CI insurers too and are good at paying out.

I got around £700 back (comission is 130% of year one's premium) so it basically pays for itself for the first two years. Plus the extra discounts like you say. If you wanted to split the commission and/or know more information email me: [EMAIL="marcnicol@pch.uk.com"]marcnicol@pch.uk.com[/EMAIL]

Cheers, but I'm getting 100% of the commission back myself anyway as I have a Pruprotect agency.