Earlier this year ICMIF reported that two of its members, Benenden Healthcare Society and Engage Mutual Assurance, both leading UK mutual organisations, had announced a plan to work together to deliver and develop the ‘Benenden Health Cash Plan’.
Now, the two organisations have teamed up once more to launch their second major product together. The new product is the Benenden Over 50s Life Cover plan which is brought to Benenden Healthcare members by the Friendly Healthcare Organisation Limited (FHOL) - a subsidiary of Benenden Healthcare Society Limited. The plan is provided by Engage Mutual, who also currently provide Benenden with the Health Cash Plan which was launched at the start of the year.
Marc Bell, Marketing & Business Strategy Director at Benenden Healthcare and Director of FHOL said: ‘This is a natural next step in the evolution of our working relationship with Engage Mutual. The new Over 50s Life Cover product is a major move towards broadening the Society’s range of products and services, offering greater choice to its members with the same good value and quality of service provision.
‘There’s something natural in two mutuals working closely in this way. We understand each other’s business model and recognise the long-term value to both our organisations.’
Karl Elliott, marketing director at Engage Mutual said: ‘Working to our mutual strengths and with shared insights, we have developed an exclusive product tailored to the needs of the Benenden membership base.
‘Our complementary values as mutuals ensure a co-operative relationship which is to the benefit of both organisations and their members.’
The Benenden Over 50s Life Cover Plan is available to members of the Benenden Healthcare Society and their family & friends who are aged 50 – 80 (inclusive) and provides a cash lump sum in the event of the death of the plan holder.
Benenden Healthcare Society is one of the UK’s longest serving and most respected mutual healthcare societies. Engage Mutual is one of the larger UK mutuals providing savings, protection and investment products.