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BUPA (British United Provident Association) was formed in 1947 when 17 different provident associations from within the UK clubbed together to offer free healthcare to the public. It is the largest independent health insurance provider in Britain and has more than 10 million worldwide members. It was originally planned as a non-profit organisation with its chief aim to provide services that the British NHS (National Health Service) could not. They specialise in health and life coverage as well as the promotion of healthy lifestyles.
Product Services and Speciality Products
BUPA concentrate on various aspects of healthcare. Their health and life cover protects you whether you are home and abroad, giving you access to any BUPA centre in the world and also has 24 hour help lines. Their care services in the UK and other countries like Spain, New Zealand and Australia offer special care to elderly patients who suffer from dementia, Parkinson’s and Huntington’s diseases as well as providing care for younger patients with physical disabilities.
BUPA individual protection launched a Term Assurance with Tax Relief coverage scheme in 2006 which allowed their members to benefit from tax relief on premiums. It is the only pension term assurance scheme which gives members a 24 hour helpline every day of the week. It pays the policyholder a one time lump sum payment from a pension trust agreement. Under this coverage, those diagnosed with a serious condition will be allowed access to their ‘Best Doctors’ scheme. This means that the policyholder can choose one of 50,000 international doctors available.
BUPA is a private company which means that it has no shareholders. This means that it can invest all the money it receives from its members back into providing the best medical facilities. At present, it is the largest private medical insurer in the United Kingdom with more than 3 million members.