National Friendly Heathcare Deposit Account News.

June 2011 - Temporary closure to all new applications

The FSA rules require that National Friendly constantly review their capital requirements. Due to the performance of their healthcare policy book their capital requirements have changed. They are carrying out a review of their requirements and whilst they do so, they will be unable on a temporary basis to issue any NEW policies but all existing policies will be fully serviced.

National Friendly was voted Best Individual Private Medical Insurance Provider at The Health Insurance Awards for its individual Healthcare Deposit Account.

National Friendly Healthcare Review.

The Healthcare Deposit Account from National Friendly is a fresh, flexible approach to private medical insurance. Enjoy affordable premiums fixed for 5 years. Choose any UK hospital or treatment centre, giving you freedom of choice. Comprehensive cover for adults from just £40 a month per person or child plans from just £20 a month. The Healthcare Deposit Account is available to any UK resident up to age 70.

Unlike traditional private health plans the National Friendly Healthcare Deposit Account is different because  the Healthcare Deposit Account has a cash value if you don’t claim. That’s because 75% of your monthly premium goes towards the cost of running the scheme – the other 25% goes into your own personal deposit account. From this account, you either pay 10% (if you’re under 65) or 25% (over 65) of any claim. National friendly always pay the majority share.

When you need to make a claim for under-65s, it’s 10 times your deposit balance. For over-65s, it’s four times your deposit balance. In the first 10 years, if your deposit balance has been used up, your top-up gives you an additional £30,000, £45,000 or £60,000 worth of extra cover to claim from, depending on which option you choose.

If you take money out of your personal deposit account remember that this leaves you less to put towards any claims. This could reduce the amount of cover available to you under the healthcare policy.

Full details on the National Friendly Healthcare plan can be found on their website.

National Friendly Healthcare Deposit account.