Chris is 55-years old and wants to buy an individual private medical insurance plan for himself and his family. He lives with his wife, Karin, 37, and their eight-month old son, Benjamin. They are all in good health and lead an active lifestyle. Chris also wants to cover his 19-year old daughter, Rebecca, from a previous marriage. Rebecca is a full-time student and has suffered from epilepsy since early childhood. Despite this, she is in good health and regularly takes her medication. What are their options?
Stephen Walker, Medical Insurance Services Although the individual private medical insurance (PMI) market has been stagnant for some time, the industry is beginning to wake up to the market's potential. Consequently, there has been a flurry of new products based on a variety of different concepts, and there are more in the pipeline. Under Financial Services Authority (FSA) regulation, advisers are required to determine what Chris and his family are looking for from a PMI policy and what they want it to provide for them. In other words - what are their demands and needs? The market ca...
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