No one likes the thought of themselves or a loved one falling ill. As a family man myself, it is difficult to think about the strain it would cause my loved ones -especially my children- if I were to become ill. Who would care and provide for them? Who would take them bowling or pick them up from school? As difficult as it is, sometimes these things need to be considered.
As amazing as our NHS is, their resources have recently been stretched beyond capacity; making it more and more difficult for those who are ill to see their GP, get medical treatments and gain access to diagnosis’. This is why many people are now opting for Private Medical Insurance.
What is Private Medical Insurance?
Private Medical Insurance (AKA PMI or Health Insurance) is an insurance cover that can give people more choice over the healthcare that they receive and also quicker access to their treatments.
There are lots of benefits of having PMI, such as:
Access to treatment quickly
Choice of consultant and location
Expert care from leading healthcare professional
Treatment from private specialists and hospitals – some policies pay you a small fee for each night you spend in a NHS hospital.
In some cases treatments and drugs not available on the NHS
Dedicated cancer support
What are the different types of Private Medical Insurance?
What you may not know is that there are different types of Health Insurance in the UK, which can make the process confusing. Here’s the breakdown of the different types of PMI, so that you understand which may be the best option for you:
Individual Insurance
This covers one person and can include your diagnosis and treatment plan, depending on your type of cover*. It gives you quicker access to appointments, diagnosis and treatments and is usually paid as a monthly subscription depending upon your provider.
Couples Health Insurance
Covers two people under one policy, yourself and your partner/spouse. This gives you both quicker access to appointments, diagnosis and treatments. Generally paid as a monthly subscription depending upon which provider you choose.
Family Health Insurance
Every member of your family that you put down gets the same private healthcare coverage with this policy. Generally, you pay a monthly subscription that covers treatments for acute conditions that occur after your family health insurance policy begins. This is a good option for those who, like myself, are parents and want their children to receive the same medical care as themselves.
Business Health Insurance
This type of health insurance is for employers/business owners to take out. It covers their employees and allows them quicker access to high-quality Private Medical Insurance. For more information on this, then please contact us.
Types of cover*
Within a policy, there are different types of cover. These are:
Comprehensive Cover
This covers both your medical diagnosis and your treatments that may follow. It can be the more expensive option, but provides quicker service in getting your initial appointments and diagnosis’.
Treatment & Care Cover
Usually, this is the less costly option of cover. It is for those who are happy to receive a diagnosis under the NHS, but want their treatment and care plans privately.
Private Medical Insurance isn’t just for those with businesses or families, it can be for anyone who wants to receive good medical care quickly. However, it can also have benefits for your loved ones whether they are involved in the insurance plan or not, knowing someone they care about is covered if they were to become ill.
If you’d like to learn more about Private Medical Insurance and whether it is the best option for you, don’t hesitate to reach out to The Financial Guys today.