Standard Life introduces 'guided option' to PMI

clock

Standard Life Healthcare has introduced a ‘guided option' to its private medical insurance products which it says will cut the cost of comprehensive cover.

The ‘guided option’ introduces a new treatment path which uses a Bupa or Capio hospital to manage a patient’s treatment from beginning to end, including making all the arrangements and choosing an appropriate consultant. Standard Life says this means hospitals can make better use of their resources so they can reduce their charges and produce a saving which can be passed onto customers. It claims the option will save customers 15% off their policies and, if combined with other Standard Life Healthcare features such as its no claims discount, the cost of comprehensive cover could be cut ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

Cognitive biases in advice and the psychology of insurance

Cognitive biases in advice and the psychology of insurance

A look into client decision making and its effects on protection uptake

Jaskeet Briah
clock 25 April 2024 • 5 min read
Aviva completes £460m acquisition of AIG Life after CMA delay

Aviva completes £460m acquisition of AIG Life after CMA delay

'It's disappointing to lose another protection insurer from the market'

Cameron Roberts
clock 10 April 2024 • 2 min read
Is price really still king? Why the protection market needs to evolve

Is price really still king? Why the protection market needs to evolve

Data and process improvement will be 'battlegrounds of tomorrow'

Paul Yates
clock 18 March 2024 • 3 min read