Health insurance

Health Insurance

UK Health Insurance, sometimes known as Private Health Insurance (PHI) differs from Life Insurance in that it covers you for medical treatment.

There are usually two or three types of Personal Health Insurance Plans available, Basic, Standard and Comprehensive and they are sometimes referred to by a different title such as Bronze, Silver and Gold, but the principle remains the same.

They are designed to give you the luxury of "peace of mind" for you and your family, so that if something does happen you can be seen quickly at a private hospital or privately at an NHS hospital avoiding the waiting times of NHS care. If you have an existing condition you may find that this is excluded from your Individual Health Insurance Policy, however if it is under control and well managed the exclusion may be waived, it really does depend on the Health Insurance Providers underwriting criteria.
Be aware though that your Health Insurance premium usually increases each birthday or each renewal date, unlike Life Insurance where once the policy is active (ie: accepted and you start making payments) the premium remains the same throughout the term of the policy.

What Health Insurance Benefits Should You Expect?

Basic Plan

Hospital charges (limited amount), consultant fees (limited amount), diagnostic tests, Radio and Chemotherapy cover, Physiotherapy, Osteopathy, Chiropractic (limited amount), maternity cash benefit, nursing at home (limited amount) and private ambulance (limited amount)

Standard Plan

Includes the same as the Basic Plan but the limited amounts may be increased and psychiatric treatment (limited amount) may also be included.

Comprehensive Plan

Includes the same as the standard plan but again but you can expect the limited amounts to be increased further and alternative therapies (limited amount) to be included as well.

Some Health Insurance Quote tips are to ensure that you always read the terms and conditions so that you are fully aware as to what is, and what isn't, included in each plan. Take into account costs to enable you to choose the plan that is best suited to you. When you complete your Health Insurance Quote always ensure you answer the questions in as much detail as possible as if you do not disclose a condition, your policy could be canceled by the insurer and a claim not paid.

Some employers offer Private Healthcare as part of your employment package, and you should check what is available to you. Its also worth checking if you can upgrade your plan by making extra payments, which would increase your level of cover but making it cheaper than taking out your own cover.

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Updated on 5th March, 2009

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