The corporate structure had stopped providing policies to new members, but those who were already registered retained the benefit.

Nationwide is eliminating flexible European insurance for the last of its FlexAccount consumers who were entitled to a policy through their checking account.

The member-owned structure company reached out to consumers this week to announce the replacement and warn them that they will want to acquire a policy of choice for anyone they make starting December 31, 2021.

For many years, flexible European insurance was one of the main explanations for why having one of the company’s existing Flex accounts.

Nationwide stopped providing the perks of getting new consumers out of its main FlexAccount in December 2016, but those who had subscribed before were able to keep their European policy flexible as long as they paid at least £750 per month into the account and finished an annual return revealing any medical conditions.

Starting at the end of the year, they too will lose coverage. Nationwide said it “understood that members would be disappointed with this decision,” but that only a quarter of its FlexAccount consumers benefited from the product.

“We have kept our European insurance flexible for veteran FlexAccount members for five years after cutting it for new members in 2016,” a spokesperson said.

“However, with a small proportion of members now meeting the eligibility criteria, we have taken the resolution to simplify our proposal and align situations for all FlexAccount members. Given the low usage and charge of this coverage, we will now eliminate this insurance at the end of the year.

While peak consumers will lose their awning at the end of the year, those who paid for an upgrade, such as keeping the insurance after turning 70 or keeping the awning in physical condition, will remain so until it expires.

Nationwide is offering a 30% reduction in hotline insurance to its FlexAccount consumers affected by the change. However, it may not be the cheapest option for those who deserve to shop around and compare policies and premiums.

Alternatively, consumers have the option to upgrade to Nationwide’s FlexPlus account, which provides international insurance for the total circle of family members as well as other benefits, but prices are £13 consistent with the month or £156 consistent with the year.

Those looking for some other policy will possibly not place Axa on the list of suppliers after stating that it will no longer sell its own insurance policy logo abroad and in the UK to new customers.

The insurer said this week that consumers who had already purchased annual and one-time travel policies would not be affected and that the policy would continue as planned until expiration, but once your policy ends, you may not be able to renew it.

Axa has taken the decision to “simplify its offer”. However, it will continue to underwrit policies provided through external partners, adding AA, Abta, Coverwise and the Halifax Group Account.

Axa says it will touch all affected clients and advise them to stop at the British Insurance Brokers Association’s website, where a broker can help them find insurance elsewhere.