The name BUPA has been synonymous with private healthcare in the UK for decades, and yet to many people’s minds is instantly associated with expensive premiums beyond the reach of the ordinary man and woman. But not anymore, thanks to the advent of a brand new, competitively-priced health insurance package which is hoped will debunk the long-established belief that BUPA’s medical provisions can’t be enjoyed by everyone; irrespective of background and budget.
As of Summer 2015, BUPA Fundamental will be widely available as an entry-level health insurance alternative, and will be promoted by a range of insurance intermediaries from this juncture onwards according to the company itself. BUPA has said it has launched the package to meet the needs of the increasing number of people who are looking for what they consider to be more ‘affordable’ and ‘accessible’ private healthcare options, and BUPA has confirmed that the resultant plan has been brought to fruition in collaboration with intermediaries.
Based on research BUPA undertook under its own steam of late, some 50% of 32 – 55-year olds freely admitted that what they perceived to be the expense of a private healthcare policy stood between them successfully arranging a plan. Of those polled 37% confirmed that they’d definitely consider taking out appropriate personal cover in this area if they deemed it to be more within their financial grasp; which it clearly hadn’t been to date in their opinion.
BUPA Also Targets Policyholders with Rival Healthcare Insurance Providers, With ‘Switching’ Sweeteners
Aside from going all out to capture new customers per se, BUPA said that it also hoped to appeal to those people who already benefitted from a private healthcare insurance policy elsewhere, by way of flagging up attractive ‘switch’ terms; amongst which was the convenient platform on which to transfer current underwriting and exclusions for the individual policyholder. This is promoted in addition to making more attractive policy propositions for employees debating over whether or not to leave group corporate schemes offered by BUPA’s competitors in this insurance marketplace.
As first published by www.ftadviser.com, this new insurance product is said to comprise of a comprehensive cancer cover, both inpatient and day patient treatment as well as outpatient benefits including diagnostic scans, 2 consultations and physical therapy following treatments/medical procedures up to the value of £350. One of BUPA UK’s Directors, Richard Norris went on record as saying; “We know that cost is one of the main barriers that stops people using private healthcare, which is why we are committed to developing new products and services that suit a variety of budgets, making quality healthcare more affordable and accessible to more people.”