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What is it?
In a nutshell, private health insurance is designed to cover or contribute to the costs of private medical bills rather than self-funding or having to rely on the NHS. It is also known as Private Health Insurance or Private Medical Insurance
It allows quick access to top health care professionals, improving your chances of a quick and full recovery. Most policies can be tailored to meet your needs and budget. You can have choices around the types of medical treatment covered, what level of cover will apply to those treatments, the location where your treatment is provided and the contribution you might be willing to make to the treatment cost (called ‘the excess’).
In the UK, we are lucky enough to have access to free health care under our NHS. However, we all unfortunately know how much they are struggling now, especially since the pandemic a few years ago. Waiting lists are at an all-time high and people are usually unable to get the care or treatment they need at the time they need it.
Is Private Medical Insurance for me?
Like many insurance policies the answer is maybe. PMI has many benefits for you and your family so you should consider a policy if you see the benefit in any of the following…
• Access to private health care at the fraction of the cost
• Access to some treatments and medication not available with the NHS
• Access to a wider range of hospitals that might not be available through the NHS and having the ability to choose between them
• Policies can be set up individually or for the whole family
• Optional extras such as outpatient cover, mental health cover, optical and dental cover
How much does it cost?
The cost of a private health policy will be based on various factors. These include, amongst other things, the likes of your age, the number of people covered under the policy, the level of cover required and what, if any, optional extras are included, how much you might be whiling to contribute in the event of a claim and your medical history.
Like any policy, the younger you and the healthier you are the lower the price will be. If you wait until something happens to your health, you also risk not being able to cover that condition as most policies will exclude pre-existing conditions.
Our team of professional advisers are on hand to talk you through the options and help you find what is right for you at a price that works for you. Click get a quote below to start your journey.
ConsultaLife is a trading name of Consulta Financial Goup Limited who are an appointed representative of Manage Your Mortgage LTD. We are authorised and regulated by the Financial Conduct Authority
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