There is more to a policy than the premium

Thursday, March 4, 2010

The overwhelming majority of life insurance providers market their policies based on their price. Recent surveys point to a 30% reduction in the average price of life insurance policies. There, are however, many more considerations that should be taken into account. Take Critical Illness Cover. The policy outlines all of the additional benefits and advantages but these are not always obvious in the upfront marketing of the policy and are often overlooked when making an application.

A perfect example of this can be seen when looking at one of BUPA’s Critical Illness insurance policies. The insurance includes a benefit called ‘Best Doctors’, which is an independent service designed to pinpoint specialists located across the globe that can treat specific illnesses or conditions upon which a claim is being made. This rather remarkable benefit provides the customer with 24-hour access to a team devoted solely to assisting them throughout the process of their claim. This team is made up of an impressive array of experts, such as doctors affiliated with Harvard Medical School, who can make recommendations from an international network of 50,000 doctors.

The benefits are obvious. The policyholder essentially has access to some of the best doctors in the field that are involved in the diagnosis and treatment for the most specific of conditions.

This ‘extra’ from BUPA is available to all of its policyholders who have taken out critical illness cover or a BUPA critical illness with life cover policy. The resulting recommendation from the team of experts is communicated to both the claimant and their doctor in a report.

This is one example of what your policy can offer – remember it’s not just the price that dictates what the perfect policy is for you.

Robert Whitfield