Private health insurance (PMI) has opened up a wide range of healthcare options to the public, who for many years could only access private healthcare treatment by paying for it themselves (even minor operations costing thousands of pounds)
These insurance policies are designed to cover the costs of private healthcare treatment and consultations and offer a wide range of private hospitals to choose from.
Having private health insurance gives you the reassurance of knowing that treatment for eligible conditions is available promptly if you become ill or injured, which can help avoid the stress of long hospital waiting lists and inconvenient appointment times.
It should generally not be regarded as an alternative to the national Health Service (private hospitals and generally not equipped for casualty situations), but will ensure that you receive the care more quickly, at a time and place of your choice.
Usually PMI plans are taken out as a yearly contract with various payment options. You can generally reduce your premiums by making sure you have excess limits in place, meaning you will be eligible to pay the first £100 or thereabouts of any claim that you make.
How much will it cost?
Contrary to what many people believe, there are a number of affordable private medical insurance policies available in todays market.
The last few years have seen a number of private medical insurance companies introduce new insurance initiatives launched to curb increasing helath insurance premiums, and make medical insurance more affordable for a person of average wealth.
Private medical insurance plans are available at a number of different levels, ranging from comprehensive to budget, and the level of protection that you can afford will depend on your individual circumstances. Health insurance companies now offer innovative solutions for even the most basic of health insurance needs, so whatever your budget may be, you will be able to find a suitable insurance plan on the market.
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