ProtectionAug 18 2016

The Exeter offers free cash plan cover with new PMI policies

twitter-iconfacebook-iconlinkedin-iconmail-iconprint-icon
Search supported by
The Exeter offers free cash plan cover with new PMI policies

The Exeter has come up with a new offer to help advisers boost their sales during the slower summer months.

The South West-based mutual has launched the beginning of a limited offer giving new private medical insurance (PMI) policyholders the chance to benefit from a year’s free cash plan cover.

Policyholders would usually pay a monthly premium, to be able to claim the cash back as and when then need it.

The maximum value of the cash plan is £500 plus personal accident cover. As with many cash plans, the total is split across three different pots: £80 optical, £120 dental and £300 on complimentary therapies.

Head of sales Karen Woodley said: “This offer not only gives advisers another good reason to open up conversations, but also gives customers real and tangible benefits to bolster their PMI cover.”

The health insurer has offered cash plans since 2015, having acquired the cash plan book of Engage Mutual, now known as One Family, last November.

In addition, The Exeter is currently running a two months’ free income protection promotion to help attract customers to this undersold type of cover.

That limited special offer was started up last month and applies to its full range of income protection plans; Pure Protection, Income One and Bills & Things.

Also in July, the mutual began work re-developing its IT platform, including provision for new customer and adviser portals, with chief executive Andy Chapman stating the service provided to brokers will be enhanced by this development.

peter.walker@ft.com