Private Medical Insurance
Private Health Insurance Explained
Private medical insurance (PMI) offers you, your family or your employee's the ability for prompt diagnosis and treatment of acute medical conditions. The cover is designed to help speed recovery by avoiding the stress of long hospital waiting lists and inconvenient appointment times with treatment at a time and location chosen by you.
PMI Cover Overview
Most providers of private medical insurance will offer plans that offer you the option to select the level of cover to match your budget and cover requirements. Typically they fall into 3 cover variations, Comprehensive, Mid-Range, Budget.
Comprehensive cover will cover a wide range of in-patient and out-patient day treatments and consultations and at a wide range of hospitals and may also offer overseas cover. Mid-Range cover may impose limitations on certain out-patient tests and treatments and consultations. And finally budget cover where some out-patient treatments are excluded and/or possibly limited and policy may only be used if there is a waiting list over 6 weeks at a local NHS hospital.
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How to Reduce The Cost of PMI?
There are certain options that can be selected to reduce the cost of your private medical insurance, they are:-
- Consider having an optional excess if you claim
- Take a policy that offers a no claims discount
- Exclude certain treatment or reduce outpatient cover
- Restrict your hospital list (to exclude the higher cost hospitals)
- Consider a NHS six week option (if treatment is available within 6 weeks on NHS you use NHS else you get treated privately straight away)
Other methods to reduce cost include:
- Consider switching provider (on like for like terms) to reduce the cost
- Don't apply direct as direct prices are more expensive use a broker like us
More Information on Particular Providers
- AXA PPP
- Bupa
- Exeter Family Friendly
- PruHealth
Private Medical Insurance Cashback Terms
- Cashback is paid after the second month and once you have made the 2nd monthly payment.
- Policy premium must be £40 per month or more to qualify for cashback.
- The cashback is a rebate of our commission, which is paid in advance of the earnings period typically 12 months. Cashback is only paid on the basis that you maintain the cover for the commission earnings period or longer. Should the policy stop within this earnings period the provider will request repayment of any unearned commission from us and you agree to repay on our demand your percentage share based on the percentage paid to you as cashback.
- We reserve the right to delay paying the cashback until after the commission earnings period if we suspect the policy has been taken out for the sole purpose of acquiring the cashback with no intent of maintaining the cover.
- These cashback terms do not affect your Statutory rights.
- We reserve the right to alter these terms at anytime and if we do shall take immediate effect.
Cashback terms last updated 4th April. 2009
