Premium bank accounts & travel insurance

colinobj

Nationwide's FlexPlus account is very good value for money - for £10/mth you get interest on the first £2500, breakdown cover, travel insurance and mobile phone insurance. We've had one for a couple of years and as we are contemplating a trip we looked hard at the Travel Insurance T&Cs. Like most of the population over about 65 we're on Statins, and we have 3 other prescriptions to control or prevent other minor problems.

We declared these and Nationwides insurer came up with an additional annual premium of £172.80. So we either pay that or risk of the insurance not covering anything that they construe as being related to these conditions. It seems you're allowed one prescribable condition each - any additional ones cost £57.60pa each.

That doesn't seem very fair so we have complained - but it won't change Nationwides policy.

Lloyds has a premium account which costs £17/mth, pays interest, and offers travel, breakdown and mobile phone insurance. The big difference is that Lloyds travel insurance leaflet lists about 100 pre-existing conditions that don't have to be declared - including all of the above. So no additional premium.

Anyone have any feedback on the Lloyds Platinum account and its insurance cover?

Any other banks offering something similar?

Katiehound

All I know is that I looked into the Halifax ultimate reward a/c a few years ago which included travel insurance. The extra cost of the declared medical condition was about the same as the actual cost of full insurance elsewhere so needless to say I did not upgrade my account!

jonesMUFCforever

The Lloyds package will cost you £84 extra per year, over Nationwide.

If you add club to the account you could at the moment get about £16 in interest but this will reduce to about £8 in January.
I have used this insurance - only the one claim, which they settled over the phone without having the need to send in any paperwork (delayed flight).

PeacefulWaters

Most packaged accounts are expensive when pre-existing conditions are added.

I'd suggest heading to moneysupermarket travel insurance pages and pricing up policies there.