Quality Product Research: Medical – proposed rating Grief & Funeral Support


We have recently conducted a review on our Death/Funeral item within medical. To align with all our other benefits, we have renamed this item “Grief and Funeral Support.”

Item weightings

Amount score: how much would be paid as a percentage of our total estimated value of claims over the estimated typical policy life.

This is difficult to determine within medical as multiple claims for different benefits could be made during the life of a policy. To combat this, we have created a claims model which assumes that an insured person will hold their medical cover for approximately 12 years, during this period, they will make a total of $30,000 worth of claims (if you would like more details please feel free to ask us for a copy of the model). This is only an assumed amount for our model, based on a typical claim pattern for commonly claimed services. In reality, the amount could be less or more.

Frequency: how often the benefit would be paid.

Incidence: how likely the benefit is to be claimed.

Please see our table below for details figures listed by each provider. Should you wish to send us through any data that can help us to revise this model please feel free to email us.

Sub-items rating review

Please find our proposed definition re-rate below:

Your feedback

We value getting your feedback on how these wordings are being applied to claims you may be aware of. Please email us with details of any recent claims to help us update our understanding.

Doreen Dutt, Research Manager, Quality Product Research Limited, [email protected]

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