Universal Provident is offering two-year private medical insurance policies with an automatic 5% loading after the first year.
The insurer, a subsidiary of Berkeley Morgan Group, claims the move is effectively cutting premiums.
Berkeley Morgan chairman Jon Pardoe commented: “Most UK health insurers have rate increases over six months, which become applicable when the policy comes up for renewal.”
He added: “With our policies, although 5% is added at the end of year one, the client knows exactly what the premium is for two years and will not be in for any shock increases. In fact, the majority of premiums will actually be decreasing.”
