Demand for healthcare cash plans is increasing, yet advisers have been slow to embrace the market. Raman Sankaran outlines the opportunities this low-cost product holds for intermediaries
Six million people in the UK hold a healthcare cash plan (HCP) and demand is continuing to rise as our understanding of health risks and requirements increases. Despite this figure, HCPs are still a relatively unknown product. The majority of people are unaware of the generous benefits they provide ' with many mistaking them for traditional private medical insurance (PMI). This misconception only adds to some confusion within the industry over how HCPs work, their relevance in today's modern society and what they offer in terms of benefits and commission. They are a highly cost-effe...
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