BUPA have always been one of the most expensive providers in the market for like for like cover relying upon their fabulous brand and high standard of care to justify the higher premium.
However, unknown to most BUPA members BUPA launched a more competitively priced product in May 2007 through selected intermediaries which is not available from BUPA direct! Why? Simple. BUPA do not want to give away their premiums by advising existing clients their is a cheaper option in comparison to their present scheme. And for many years independent advisors, such as ourselves, have found it difficult to recommend BUPA in comparison to alternative providers because they were 20-40% more expensive.
BUPA finally recognised this and are now aggressively approaching the independent market with some excellent value schemes which are not only competitive but in many cases are the best value products available.
In effect they keep the higher premiums of existing clients whilst increasing their penetration on new clients reviewing their options or coming into PMI for the first time. Have their cake and eat it, you could say.
If you're an existing member with BUPA you should have a free review on this product to compare against your existing scheme.
An independent advisor will be able to offer a price comparison and review any potential lose of cover by transferring to the new scheme. In some cases you will be best staying with the higher premium to keep existing conditions covered and in many cases you will be able to obtain greater benefits at a lower premium with the same company!
For people looking at PMI for the first time this BUPA scheme is an excellent option to consider but may not always be the most suitable depending upon your circumstance, life style and budget. However, in comparison to dealing direct with BUPA you will obtain greater value for money through this scheme which is not available from BUPA direct.
