AIG launches cashback health insurance
AIG Direct is launching a new health insurance policy that offers customers cashback if they choose to have the procedure on the NHS.
The heath insurance program, HealthChoice, offers policies that provide cover for diagnosis, planned surgery and post-operative care at either BMI Healthcare's network of private hospitals or on the NHS.
If treatment is sought at a private BMI Healthcare hospital, cover is included for all costs - even for complications that require unexpected extended stays.
After 30 days, or when the benefit limit is reached for a certain procedure, a patient will be required to pay additional costs out-of-pocket or switch to a NHS hospital.
If the customer chooses to seek treatment at NHS, the insurance pays the policy holder that difference in procedure cost - up to £21,750 - to be spent however the customer wants, AIG said.
A spokesperson for HealthChoice said: "The product is designed to be flexible, simple and cost effective, empowering policyholders to make their own decisions when it comes to their healthcare needs.
"It is the first private medical insurance product to recognise that the NHS and the private healthcare system can complement each other's strengths."
All medical bills are paid directly to the hospital by the insurer. There is no annual claims limit or a 'no claims' discount.
Monthly premiums are typically £34.55 for a 30 year old, £47.10 for some who is 40 and £60.69 for a 50 year old.
The plan covers over 1,500 operations. Cover for cancer assistance for treatment like chemotherapy, serious illness support, additional expenses and extended cover for physiotherapy, are considered extras and are not included in the base premium.
Johanna King
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