Laya Are the Laya price cuts genuine?

Do some consumers simply ring up and say "Give me the most expensive product on the shelf, as it must be the best?"
Having tried to help relatives with this previously, I know some are paralysed into inaction due to a fear of being locked out of some elements of cover due to pre-existing conditions, etc.
For the less savvy (eg. older people), this can be a difficulty.
 
However, there are issues with that also. How is the broker paid? Are they incentivised in pushing one plan above another?

Mine is via a union and I pay the same rate as advertised by the health insurance provider and the broker gets a commission. What I find from friends is that the health insurance providers are not telling people that there is a lower priced plan with the same benefits.
 
However, there are issues with that also. How is the broker paid? Are they incentivised in pushing one plan above another?

Aviva is the only company which pays commission. So unless your broker charges you a fee per hour and refunds you any commission, the broker will be under huge pressure to recommend an Aviva product.

And because the products are so diverse, it would be hard to complain that the Laya product was better than the Aviva product.

I think you could only be confident that the broker gets you the best Aviva product.

Brendan
 
Aviva is the only company which pays commission. So unless your broker charges you a fee per hour and refunds you any commission, the broker will be under huge pressure to recommend an Aviva product.

Interesting. I'll let you know how I get on.
 
That can only be achieved by setting an upper limit on the number of plans offered by each insurer.

It could also be achieved by the HIA defining, say , 4 standard policies

Basic consultant cover and private ward in a public hospital
semi-private room in a private hospital
Private rooms in the high-tech hospitals
Children's policy

The 4 companies would have to quote a price for these 3 policies.

Additional cover could only be provided by way of additions to these
e.g. paying for routine medical expenses; homeopathy; etc.

Discounts could be offered for excesses.

This would make it much easier to compare costs.

I feel a submission coming on ...

Brendan
 
It could also be achieved by the HIA defining, say , 4 standard policies

Basic consultant cover and private ward in a public hospital
semi-private room in a private hospital
Private rooms in the high-tech hospitals
Children's policy

The 4 companies would have to quote a price for these 3 policies.

Additional cover could only be provided by way of additions to these
e.g. paying for routine medical expenses; homeopathy; etc.

Discounts could be offered for excesses.

This would make it much easier to compare costs.

I feel a submission coming on ...

Brendan

Bingo!

This is the solution, standard government defined policies which each insurer must offer.

Let the companies offer additional policies as well if they wish.

Mobile phone packages are another area where a similar standard government defined package should be demanded of all providers.

With reference to another thread, this does not amount to government interference in the market. The companies are still free to sell whatever products they wish, but they all must offer the standard products which are the same for all companies.
 
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Let the companies offer additional policies as well if they wish.

.

I am not sure that I would allow them offer additional policies.

They could only offer variations of the standard policies - additions or subtractions and would have to highlight these differences.

Otherwise,they would all quote expensive standard policies and then offer alternatives which were cheaper but which might be hard to find.

Brendan
 
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I compared the Company Care Premium No Excess with Total Health Select.

They are identical, except Company Care is €1,000 more expensive.

One is a carbon copy of the other.

Does the Consumer Protection Code come in here?

If I call up and buy the the Company Care, are they obliged to tell me that they have the exact same plan for €1,000 less?

Brendan
 
So how do we put our money where our mouth is on this issue?

Hi brendan

There is a general issue here which might be incorporated into the Consumer Protection Code.

"If a company offers a product to a new customer, an existing customer who meets the criteria has a right to avail of it."

So if someone takes out the Company Care Premium, they would have a right to switch to the Total Health. (Of course they would have to know that there was a cheaper policy).

If Bank of Ireland is offering a rate of 4% on LTVs less than 50%, then an existing customer with a clean credit record who is on a higher rate, but who would otherwise qualify for the <50% rate, should have the right to avail of the lower rate.
 
My main point here is that we tend to rail on these issues and apart from the "somebody shoud do something" venting there is rarely any outcome. Surely the spirit of Consumer protection is being breached here! Water charges at 160 pa are resulting in massive public protests. These policies are costing a multipe of that yet, few are even interested enough to comment on them!!
 
Yes, it would need to be X number of standard policies (the fewer the better as far as I'm concerned - unless someone can offer justification for a certain minimum number???) with the only variation being in terms of excess and optional additions.
 
I compared the Company Care Premium No Excess with Total Health Select.

They are identical, except Company Care is €1,000 more expensive.

One is a carbon copy of the other.

Not entirely identical. If you want to split hairs.... Total Health Select gives you €200 more on Non Emergency Dental on the Outpatients.

Non Emergency Dental 50% up to €300 per year Vs 50% up to €500 per year
 
There would also need to be some limitation or control on the number of 'additions' permitted per policy. otherwise, the insurers would just use this as a mechanism to confuse the hell out of prospective customers.
 
Just to say it's not just Laya. My Dad got his renewal notice in from Avaya last week. He is currently on Business Plan Hospital + at the moment which has gone up to €1,346.70 (I think it was around €1k last year) so there was no way I was going to let him renew for that when I knew the plan I was looking at for myself (Laya Connect Care 100) was in my opinion better and cheaper.

I told him to ring the broker he bought it from and ask if there was any others he would recommend then tell me the names. I would compare them with Laya Connect Care 100 and see which would be better for him.

He rang the broker and was told that Health Plan 01 was identical to his current plan but was €1,101.20. He renewed without talking to me first ... I personally still think he would get more from the Laya plan but he has a medical card too so he was happy to stick with them.

I checked it and bar the way they word it it's the same cover!

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Maybe we should have a thread that lists these similar policies and every time we find one add it, at least that way we can direct anyone that checks AAM to look at the cheaper alternatives. Help each other narrow the search.
 
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Maybe we should have a thread that lists these similar policies and every time we find one add it, at least that way we can direct anyone that checks AAM to look at the cheaper alternatives. Help each other narrow the search.
I guess you could - but even with that, they will continue to run rings around us. They can up the rate that they introduce new plans and retire old plans - and up the number of plans they have on the market at any one time.

From what I recall, vhi are the record holders - I can't remember how many plans they have but it's an absurd number.
 
Maybe we should have a thread that lists these similar policies and every time we find one add it, at least that way we can direct anyone that checks AAM to look at the cheaper alternatives. Help each other narrow the search.


That would be a great idea, I need to take out a plan for my brother and I have no idea where to start.
 
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