Pru Health: Save money by living well - are there any catches?

Paying the same for your medical insurance as the guy down the road who smokes 60 a day and lives on a diet of lard can be annoying, especially if you take good care of your health. Pru Health believes if you live a healthy lifestyle you should be rewarded for this. They even offer discounts on gym memberships and health screening programmes in an attempt to boost your well being. It’s clear that Pru have gone beyond the traditional role of the insurer who only pays out when there’s a problem. Their award winning Vitality scheme aims to improve your quality of life, by giving you access to a range of offers that make healthy living cheaper and more accessible.

Pru Health have also tackled the problem of specialist fees, they’re the only provider in the country to promise you won’t have any costly shortfalls if you use a registered provider. This offers peace of mind that everything is included and there won’t be any unexpected extra costs, which has led to criticism of many other insurers.

Pru Health has recently taken over Standard Life, which has considerably increased the size and scope of their medical insurance market share. With this new platform available for growth Pru Health are a rising star in the PMI sector, so it could be just the right time for you to jump on board with a new policy.

Policy types

  • Individual – Four different plans are available to suit a variety of budgets. The value plan is the cheapest level of cover and works by providing exceptional low rates in exchange for contributions towards your treatment when you need it. In contrast the comprehensive plan provides you with a full medical insurance package for all kinds of in, day and outpatient treatment, with additional access to complementary therapies.

  • Company – Schemes are available for businesses of all sizes from small local businesses to large corporates. The more purchasing power you have, the more benefits open up to you, with the ability to create bespoke policies for very large schemes.

  • International – Worldwide travel cover can be added as an additional option to individual policies. This included £10 million in expenses for emergency medical treatment, and appears to have all the benefits of travel insurance.

Advantages

  • No shortfalls – Although shortfalls aren’t the first thing that come to mind when you’re considering taking out a new policy, it really is a valuable benefit. It means you won’t be met with any costly additional charges at a time when you’re unwell. As the only insurer in the UK to offer this service Pru Health are leading the industry, hopefully more insurers will follow their example in the future.

  • Parent accommodation – If a child under the age of 14 is covered on your policy the cost of a parent staying with them nearby the hospital is included in your insurance. This is particularly useful as many children need to use specialist centres such as Great Ormond Street rather than your local hospital.

  • Vitality scheme – By completing an on-line health review Pru Health will assess your current state of health and give you suggestions on how to improve it. You’ll be given access to a range of benefits such as up to 50% off gyms and health screenings. The more steps you take to improve your health the more vitality points you’ll accrue. You can benefit from up to 20% of your premium being given back to you in the form of rewards from cinema tickets, cash rewards and holiday vouchers, giving you the incentive you need to head to the gym!

  • Variety of plans to suit every budget – With a range of plans available every budget it catered for, your plan can be as comprehensive or as basic as you can afford.

  • Personalised member zone – A section of the website offering individual healthcare advice, recipes and vouchers tailored to your individual preferences.

Disadvantages

  • 24 hr GP helpline – While many insurers include this as a standard benefit, with Pru Health you need to pay an additional fee to access this feature.

  • Limited cancer cover – Unlike operators such as Bupa the cancer cover has cost and time limits attached to it, not what you want to hear if you’re going through the stress of treatment.

If you’re after an innovate insurer who rewards you for living well then look no further than Pru Health. With cash back for living a healthy lifestyle, you’ll be rewarded by your insurer for wellness as well as illness. Watch out for the limited cancer cover though, this can be a key feature to consider when taking out a policy and here they don’t stack up favourably against their competitors.



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