Health news: Launch of hybrid PMI products test traditional cash plan waters
Traditional private medical insurance (PMI) providers National Friendly and Bupa are set to challenge the cash plan market with the launch of hybrid products, following a surge in intermediated sales in the sector.
National Friendly has announced the release of its new corporate health product One Fund, which will be made available on 1 July, while Bupa has launched Patient Cash.
As reported in Insurance Age (May 2010), cash plan specialist Westfield Health said its broker sales had increased by 43% last year, claiming that decision makers were considering the benefits of cash plans over PMI.
However, chief executive of National Friendly, Richard Sear, has criticised the cash plan market, labelling it
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