National Deposit has launched a private medical insurance (PMI) product targeted at the small-to-med...
National Deposit has launched a private medical insurance (PMI) product targeted at the small-to-medium-sized enterprise (SME) market. The group healthcare deposit account aims to build on the success of the firm's individual plan. It is marketed as an alternative to the traditional PMI policy as premiums are fixed for life, the employee has the chance to build up a valuable asset and it is portable. Half of each monthly premium goes into an employee's personal deposit account or 'pot' from which they must fund 10% of any claim. The value built up in the personal deposit account can...
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