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Article: Shared responsibility in all WPA products.
- Article from:
- Financial Advisor
- Article date:
- October 28, 2004
CopyrightCOPYRIGHT 2004 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WPA has raised eyebrows among IFAs following its decision to introduce shared responsibility for claims across its range.
The private medical insurance provider has introduced the concept of customers sharing the risk of paying for treatments by paying 25 per cent of claims across its portfolio of products.
Payments will be made up to individually capped annual monetary limits and products available include Flexible Health for individuals and the self-employed, Professional Health, XS Health and Self-Pay Protect.
WPA claimed it was pioneering the concept and said it could reduce premiums by up to 70 per cent of traditional products while not ...