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Bupa launches Pension Term Assurance cover 14 June 2006 Bupa Individual Protection has launched new Term Assurance with Tax Relief (TAWTR) cover, which allows customers to benefit from tax relief on premiums. It is the only pension term assurance (PTA) product that gives policyholders 24-hour, seven days a week access to a helpline and independent expert medical advice if they are diagnosed with a serious medical condition. Bupa TAWTR is a life cover scheme that pays a one off lump sum benefit to the policyholder via a pension trust arrangement. The product is available as both level and reducing term cover options and may be used by the policyholder for personal and mortgage protection. Bupa TAWTR has a standard feature which gives any policyholders, diagnosed with a serious medical condition, access to a scheme called ‘Best Doctors’. Policyholders can then source 24-hour, seven days a week medical advice from a team of advisers and medical case managers who find the most appropriate specialists from a database of 50,000 international doctors. A team of experts in Boston USA, including doctors affiliated with Harvard Medical School, will work together with experienced doctors worldwide to evaluate the diagnosis and best treatment options for the policyholder at no cost. There is an indexation option available on the level term cover option, where policyholders can choose to protect the value of the lump sum benefit as it increases in line with inflation, measured against the Retail Price Index and Average Earnings Index. In addition, policyholders will have a lifestyle conversion option allowing them to increase cover at any time by 25 percent if the policyholder gets married, has children or increases the size of their mortgage during the policy term. Steve Casey, product manager at Bupa Individual Protection, comments: “BUPA is pleased to be launching a new type of life cover that will offer policyholders more choice. The new Bupa Term Assurance with Tax Relief cover differs from other products already on the market as it provides policyholders with 24-hour, seven days a week access to expert medical advice as a standard benefit. It also offers policyholders a choice of options to match their lifestyle needs and the flexibility to adapt the product to suit any significant life changes.” Bupa’s Term Assurance with Tax Relief product will initially be available to brokers via the Intermediary Sales Centre and with portals Assureweb and Webline. A programme for the product to be made available will be completed in the coming weeks. For further details contact 0800 33 2000 or visit www.bupa.co.uk/intercom
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