Premiums fixed for life

The Healthcare Deposit Account offers you fixed monthly premiums for life, so they’ll never go up, no matter how old you are or how many times you have claimed.

Cash if you claim, cash if you don’t

Unlike other healthcare policies, where your premium is lost whether you claim or not, the Healthcare Deposit Account puts half of each monthly payment into your own personal deposit account.

If you need to make a claim, your personal deposit account will pay a set percentage of the cost. This will always be the minority share – usually 10% of the claim. . At the same time, if you stay reasonably healthy and rarely need to claim, the money in your personal deposit account is there for you to withdraw if you wish.

Some of the other key benefits you can expect from this healthcare plan include:

• Comprehensive cover including private consultations, surgery, alternative therapies, cancer & heart treatment, dental & optical bills and cash payments for an overnight stay in an NHS hospital.
• Your choice of monthly premium, from as little as £20 a month .
• A choice of hospital or treatment location, whether it is private or with the NHS.
• An Early Years Top-up option, which gives you an extra £20,000 of medical cover in the first five years for just £5 a month, while you’re building your deposit account balance.

About the product provider

A long established Friendly Society formed in 1868, initially to help people save for healthcare. Before the NHS was launched, Friendly Societies were the primary providers of healthcare. In fact this particular friendly society was seen to have such expertise that they supported the government in administering state healthcare from 1912 and went on to help set up the National Health Service in 1948.

Established 80 years before the NHS, they now have over 130 years’ experience in caring for their account holders. As a Friendly Society and a mutual, they have no shareholders to pay dividends to. Their ultimate purpose is to provide benefits for their members. They pride themselves on the very high standard of service they are able to offer their clients.

How the plan works

You make a contribution each month between minimum £20.00 per month and maximum £100 per month depending on age.

Half of your contribution is placed in your own deposit account and half goes to the Society to administer your scheme.

Cost of claims are paid 10% by your own deposit fund - the balance from the Society

The following are some examples -

If you contribute the maximum £1200 per annum, at the end of year one you would have total benefit available of £12,000.if you had not claimed

A claim at the end of year one for medical treatment for £2500 would be funded by 10% of the deposit account = £250.00 - with the balance of £2250 being paid by the society
A claim at the end of year one for a major operation amounting to £14,000 would need £1,400 from your deposit account. You only have £1,200 in your deposit account with a claim fund in total of £12,000.
The claim would then be paid pro-rata in the following way - £1,200 from your deposit account and £10,800 from the fund – to the total of £12,000 .
To cover this shortfall situation in the first five years you may pay if you wish, an extra £5.00 each per month which will give you cover of an additional £20,000 to cover shortfalls in your deposit account.

For more details if you are under 68 and wish to consider joining this excellent scheme please contact us now

You are our client - We act for you - not the Insurer

Benefits for Business Ltd is authorised and regulated by the Financial Services Authority. Benefits for Business Ltd is entered on the FSA register (www.fsa.gov.uk/register/) under reference 304510.