*The Facts
Don’t confuse private medical insurance with other types of insurance.
Private medical insurance is often called ‘health insurance’, and can sometimes be confused with other types of insurance such as health cash plans, income protection and critical illness. We publish guides on these types of insurance if you’d like to know more.
Private medical insurance is designed to cover the costs of private medical treatment, for what are commonly known as ‘acute conditions’ that start after your policy begins.
Most insurers define an acute condition as a disease, illness or injury that is likely to respond quickly to treatment and aims to return you to the state of health you were in immediately before suffering the disease, illness or injury, or which leads to your full recovery. Your insurer can tell you about their cover for this and other conditions, such as cancer and chronic (long-term) conditions.
Why buy private medical insurance?
Private medical insurance insures that you and your family will be secure in the fact that if you are sick or need medical attention you will be looked after quickly, comfortably and given a greater choice in where and when you get treatment. For example if an operation is needed there will be no delay due to waiting lists, with a prompt date given for the operation to be carried out. The same goes for any X-rays or scans that may be required. Private medical insurance offers a choice of hospital times to suit and even choice of specialist surgeons. Other advantages include unrestricted visiting hours in a private room with TV, and a choice of food.
Generally included in your cover will be: in-patient tests, surgery and hospital accommodation and nursing if required. Occasionally cover will stretch to things like out-patient tests, out-patient consultations with a specialist, overseas cover and cash payments for treatment received as an NHS in-patient.
How does private medical insurance work?Although policies can be different, medical treatment usually has to start with a referral by your GP to an appropriate specialist.
Stay in touch with your insurer at each stage of your treatment. Your insurer will confirm if you are covered. Treatments for some illnesses, including pre-existing conditions (conditions from which you are already suffering, or have already had) will not be covered by a private medical insurance policy. It is also important to remember that private medical insurance is designed to work alongside, not to replace, all the services offered by the NHS. Some services, such as accident and emergency, are not available at most private hospitals.
How do I get Private Medical Insurance?An insurer, or an agent who sells policies on an insurer’s behalf, is only able to discuss that insurer’s own policies. An independent adviser offers policies from a range of insurers. Independent advisers give you recommendations after assessing your needs. They are responsible to you for the advice they give.
If you buy direct from an insurer or insurer’s agent without receiving advice, it is your responsibility to choose a policy that is right for you. This can be very time consuming and complicated, it is normally better to speak to professional.
You should check to see if you already have PMI cover. Some employers include PMI as part of their benefits package. Even a club or professional organisation might have arrangements to offer you (and your family members) cover at better rates. If this is not the case and you want to take out cover yourself via a qualified financial adviser.
Here at Lime Financial Services we will help you to find the most suitable product for your own particular needs.
We have a range of providers, some offering fantastic rewards for staying healthy. The Pru, for instance, offer cashbacks and discounts off health conscious products and services for those engaging in a healthy lifestyle. You can protect yourself with the highest level of cover and make savings along the way!
For more information and a quotation please contact us by completing the online enquiry form.
