Affordable Health Insurance

It has been recently revealed that the second largest private medical insurance company in the UK has changed its opinion on Abiraterone, a drug used to treat patients suffering from advanced prostate cancer.

Axa PPP has announced that it would be providing medical insurance cover for the drug and would be paying for it. Confirming the news Axa PPP spokesperson said that they have gone in line with Bupa and WPA as they think that it would be right thing to do.

The company is the latest entrant in the list of policy insurance companies which provide insurance for the drug. Another two companies which provide Abiraterone are Bupa and WPA. Both of the companies pay £3,000 a month for a single patient.

Dr.

Full Post…

Mortgages were the fourth most complained about financial product, the FOS revealed, after PPI, credit cards and current accounts.

Mortgages garnered 2,796 complaints in the second quarter of the financial year, compared to 2,044 in Q1.

However, despite the rise, the FOS only ruled in favour or the borrower in 33% of mortgage complaints, down from 36% of cases in the three months to June.

In addition, mortgage endowment complaints grew from 603 in Q1 to 895 in Q2, with 28% of complaints upheld in the three months to September compared to 26% the previous quarter.

Overall, the FOS saw complaints fall 38% in Q2, with PPI complaints slumping almost 66% from 56,025 in the first quarter to 19,256 in Q2.

Excluding PPI, complaints for all other financial products rose 24%.

The PPI uphold rate increased to 92% during this period, up from 55% in Q1, as banks have agreed with the FOS’ findings on complaints that have previously been on hold.

A FOS spokesperson said the overall increase was not linked to any particular product, but was probably due to consumer concern over the volatile economic situation.

“Consumers are seeing things they are not happy with, like underperformance or an inability to switch out of investments as quickly as they would like.

“With the current economic situation people are looking at their finances a lot closer,” the spokesperson said.

It suggested that the industry should be urging government to insist borrowers take out a minimum level of protection to be eligible for it.

The scheme is a key part of the coalition’s housing strategy and will see the government underwrite mortgages up to 95% LTV on new build properties.

However, the government and home builders could be liable for losses in the event that a home is repossessed and sold at a loss.

Pacific Life Re believes that, given the risks to the public purse, compelling a minimum level of income protection and possibly unemployment cover would be a fair trade-off.

David Heeney, chief marketing officer at Pacific Life Re, told Mortgage Solutions’ sister title COVER he was intrigued by the scheme.

“This looks an interesting initiative although not without its practical challenges,” he said.

“The obvious risk is that borrowers will be unable to keep up repayments (particularly if interest rates rise at some point in the future).

“One way or another, this risk will largely be borne by taxpayers.

“Surely we should be lobbying for borrowers to be required to take out a minimum level of income protection, and perhaps also unemployment cover, to be eligible for this scheme?” he added.

The possibility of protection being made compulsory was raised earlier this year by PruProtect and prompted a spirited debate.

Hospitals in Jersey have announced that they will be recovering costs for the treatment of road accident victims from motor insurance companies in the future. The payment of GB£ 2,000 per hospitalized person is already included in the calculation of premiums, but went largely unclaimed until now. The cost recovery for outpatient treatment is set at GB£ 200. It is estimated that the health department could save up to GB£ 200,000 a year through the coast recovery.

In 2010, 417 people were treated at hospitals after traffic accidents on the Channel Island. Th

Full Post…

The protection specialist, with around 90 advisers, is currently finalising a fulfilment deal, as previously revealed by COVER, our sister-title, with a third party the company declined to name at this stage.

David Child, the recently appointed managing director of Lifesearch, said: “We will be providing the names of our customers, with their agreement, to specialist general insurance brokers.

“We are not fulfilling these contracts ourselves, but working with a partner to ensure the customer experience is one that is consistent with our approach.”

The branding of Lifesearch’s new service is not yet agreed; “That is one of those fine details that we are discussing at the moment, these thing will be nailed down in the next couple of weeks” said Child, who added that the company expected to finalise the deal before Christmas.

Lifesearch also said it was doing better than expected on its move into private medical insurance (PMI).

“We went to market and started selling PMI about two months ago.

“It is doing well and definitely getting traction with our customer base.

Full Post…

Four months after the devastating flood that destroyed 130 homes in Queensland’s Lockyer Valley, more than 50 residents are still waiting for payments from their insurance companies. Insurers are still holding back decisions on whether the damage will be covered at all fearing the community will put pressure on them to pay up.

“When you drive through these towns you see home after home in disrepair”, Mayor Steve Jones said in an interview with The Queensland Times. He slammed insurance providers for holding up the region’s recovery and putting a strain on residents who were distressed enough.

The Arndts are just two residents among many waiting for insurance payments.

Full Post…

The biggest retailer in the world is training its guns on all and sundry in . Over the weekend, Walmart announced a revamp of its commitment to match prices on any rival retailer’s advertisement, so long as evidence of a better price is presented at checkout.

From Nov. 1 all the way up to Christmas, Walmart promises to match prices retroactively.

Yes, you read that right. Buy a pair of jeans, a Barbie doll, or a flat-screen television at Walmart next week, and if at any time for the next two months anyone anywhere advertises an identical product for a better price, you can come back to Walmart and claim a refund for the difference.

Sort of.

Caveats with a Capital “C”

There are a few wrinkles to Walmart’s generous offer. Full Post…