Helping a Company Significantly Reduce Their PMI Premiums Whilst Maintaining Benefits
What was the situation?
We were approached by a London-based company that was facing a significant issue with their Private Medical Insurance (PMI).
What was the issue?
Despite a low volume of claims, their annual renewal premiums were skyrocketing beyond sustainable levels. Over a span of just three years, their premiums increased by nearly 54%, causing financial strain as they rose from £13,000 to £20,000.
What was the process?
The company turned to LDN Finance for help. We knew the importance of cost savings but wanted to maintain the existing staff benefits. In order to compare the products available, we conducted a thorough review of their PMI portfolio.
Armed with the client’s requirements, we approached various insurers to explore options that could offer the same level of benefits at a more competitive price.
What was the solution?
In assessing suitable products, we successfully reduced their annual premium from £20,000 to £14,000 – a substantial reduction.
The savings allowed the company to introduce an additional death in service benefit for their employees, which not only enhanced staff morale but also provided an extra layer of protection for their families.
Lending solutions with LDN Finance
Are you looking for a personal or business protection policy to cover you and your family should the unthinkable occur? At LDN Finance, our extensive panel of insurers mean that we can comprehensively assess your requirements, and find an insurer who will bespoke a policy to cover your needs.
Contact us to speak to our of our protection advisers today.
Need competitive protection solutions?
We can help.
Whether you are looking for critical illness cover, key person insurance, trust advice or one of the many other protection products offered, your LDN Finance adviser will listen to your unique personal, business and financial circumstances to tailor a bespoke protection policy that secures your immediate financial future.
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