Private Health Insurance
Plans starting from £7 a month
Get cover for over £250k
Fill in a super simple form, by clicking one of the buttons dotted around this page.
Speak to a very friendly advisor, based here in the UK.
Arrange for your plan to start.
What is private health insurance?
This is the principal form of voluntary – health- insurance that exists in the UK. It offers insured access to an assortment of privately delivered healthcare products and services and duplicates most of the services that the NHS offers. It is also known as private medical insurance and/or supplementary voluntary- health- insurance.
What are the key benefits of private health insurance?
The key benefits of PMI when compared to the National- Health- Service include; faster access to healthcare, a better treatment environment, better timing of treatment as well as greater choice of treatment facilities and medical specialists.
As far as healthcare delivery is concerned, public and private segments are fairly well- integrated in the United Kingdom. However, public funding and private medical insurance operate as separate, unrelated healthcare finance sectors.
How does private medical insurance work?
PMI provides insurance cover for costs of treating acute medical conditions and costs of accommodation, outpatient services (where applicable), nursing and other related services. Private health insurance products may provide cover that goes beyond the above mentioned primary benefits. Nevertheless, the greater scope inevitably translates to a higher price.
The PMI market can be broadly classified into two:
1. Corporate market
2. Individual market
In the first category, insurance cover is bought by the employer and is offered as benefits related to the employee’s job.
In the second category, private health insurance is underwritten. This means that the insurer chooses the level of risk to be assumed. In most cases, they exclude pre-existing medical conditions. Exclusion is done because of the need for treatment is almost certain, yet insurance only works if the possibility of treatment is shrouded by uncertainty.
Frequently Asked Questions
How much is private health insurance?
Underwriting is an intricate process whereby an insurer settles on the nature and level of risk to assume. As earlier stated, all pre-existing medical conditions are excluded during the underwriting process because of the complexity of determining related cost implications in future.
The conditions are also disqualified to help ward off adverse selection – problems that arise from a correlation between the possibility of requiring to file claims and inclination to purchase insurance cover.
Away from this blanket prohibition, there are two major forms of underwriting that PMI insurers in the United Kingdom employ:
i. Full medical underwriting;
ii. Moratorium underwriting.
Full medical underwriting requires an applicant to fill in a form providing details of current health status and truthful medical history, among other details. An insurer may get in touch with the applicant or physician to obtain additional information and/or verify the information that has already been provided. It is also referred to as a declaration of medical- history.
In the second form of underwriting, details of the applicant’s medical history are not required. In its place, the insurer disqualifies from cover any medical conditions that subsisted five years before the purchase of that insurance cover, and any directly related medical conditions that may possibly arise.
What are the main types of VHI?
Voluntary health insurance/ private medical insurance can be broadly classified into three groups:
a) Complementary VHI
b) Substitute VHI
c) Supplementary VHI
Complementary VHI helps to address inefficiencies in both depth and extent of insurance that is available to the general public. With regard to depth, public institutions may ask patients to shell out user charges when seeking healthcare. With regard to extent, public facilities are increasingly opting to disqualify services that may have rationally been included in the insurance package. Where this occurs, markets may arise to facilitate easier access to assorted healthcare products and services.
Substitute VHI helps take care of insufficiency in system inclusiveness. Certain population groups may be disqualified from the public system in some countries. Typically, markets arise to enable such groups to get access to an assortment of healthcare products and services. As the name suggests, it substitutes the public system.
Supplementary VHI helps address situations whereby customers are unsatisfied with how the public system operates and is specially designed to offer alternative access to healthcare. Opportunities emerge when displeased customers express willingness to shell out money so as to obtain privately financed care.
How to apply
Fill in a few simple questions, through one of the buttons dotted around this page.
Once you have answered the questions and filled in your details, we will pass you on to a professional advisor. Your advisor will then work with you to generate a quote.
If you are happy with the quote then you can start paying towards your policy on a monthly or yearly basis.
Note: Life cover policies are not savings and investment products and have no cash value unless a valid claim is made.