National Friendly has announced the launch of its new private medical insurance product, My PMI.

The product’s four levels of cover are available to anyone from age 18-85, including family cover, multi-person discounts and postcode ratings to help ensure fairness of premium costing, meaning it may be structured according to lifestyle and budget,.

Designed to complement the care provided by the NHS, National Friendly claims My PMI affords quick access to a range of private healthcare services, according to the level of policy chosen. From primary care and diagnostics, including 24/7 GP as standard, to both in- and out-patient treatment. The latter includes cancer diagnostics, treatment and options for clinical trials, if required. The policyholder can choose where they go for treatment, or National Friendly will help them find the right medical expert and book their treatment with the provider’s guided option.

This launch comes at a time when a record 6.8 million people overall are on NHS waiting lists for referral to treatment, in comparison 4.2 million at the start of the pandemic (March 2022).

When it comes to waiting lists for cancer treatment, the NHS has an operational target for a minimum 85% of people to wait 2-months maximum from GP urgent referral to a first treatment for cancer. Latest data shows that percentage stands at 68.8% (2021/2022) and only 79.1% pre-pandemic (2018/2019).

National Friendly’s My PMI includes four levels of cover, as follows:

• Level 1 – for quick diagnosis and out-patient treatment only. The cheapest of the four options, offering access to private GPs and consultants, scans, tests and therapies, plus a few minor operations.
• Level 2 – for in- or day-patient treatment only. This level pays a £1,500 per person allowance for scans and £1,000 for tests each year, but focuses on more expensive treatments, typically for cancer and operations.
• Level 3 – out-patient and in- or day-patient combined. This level has the same out-patient and diagnostic and treatment cover as level 1, limited to £2,000 or £5,000 each year, plus up to £1 million a year in- and day-patient cover for operations and cancer treatments.
• Level 4 – out-patient and in- or day- patient combined. This level affords the same benefits as level 3, but with no overall monetary limits for out- or in-patient treatment. It also has a few additional benefits, with stem cell and bone marrow treatments permitted for cancer, and some value-added benefits such as health checks and taxi fares.

My PMI includes full medical underwriting and ‘5-2-2’ moratorium options. This means that any condition suffered 5 years before the insurance starts won’t be covered until the client has two years of being symptom-free and also hasn’t made a claim for two years. National Friendly will also offer ‘switch’ terms so that the client can continue their existing exclusions.

Graham Singleton (pictured), CEO at National Friendly, said: “We’re really proud to present My PMI. From economical to elite options, My PMI has something for everyone. Arranged in four easy to understand levels to help meet with the unique needs and budgetary requirements of our clients.

“With the additional pressures brought to bear by the cost-of-living crisis, your clients might want to look at how to continue with PMI cover even if it means giving up some benefits. New clients may want to know how to cover things they’re most worried about at a price they can afford. Some cover is better than none after all.

“And some older clients might want to prioritise access to the latest medical technology and treatments, over cost. Advisers told us that they wanted to be able to offer their clients this kind of flexibility. We listened and we delivered.”