What is private medical insurance?
Private Medical Insurance, or PMI, is designed to cover the costs of private medical treatment for injuries or illnesses.
This means policyholders can get quicker access to consultations and treatment, or perhaps chose a convenient time or location for treatment. This will reduce the discomfort or inconvenience when reliant upon the NHS.
Private Medical Insurance can be purchased by companies to insure their staff, or by individuals. Policies can also extend to cover family members.
There can also be benefits to pay for things like hospital expenses and access to treatments & drugs not readily available on the NHS.
Why do I need Private Medical Insurance?
The NHS is fantastic at dealing with emergencies but we are all aware that resources are limited, therefore more routine treatment and appointments can result in long waits. A good PMI policy can reduce the time spent awaiting treatment and so reduced time off from work, worry, inconvenience and pain. As an employer, providing PMI for your staff is both a welcome benefit for them and will also reduce periods of absence. If you extend cover to your family you know that you will be able to obtain prompt first class service for the ones your love.
How much does Private Medical Insurance cost?
Firstly this will depend upon your occupation and where you live. You may also be asked to consider if you want cover for pre-existing medical conditions, the amount of excess you require and any specific benefits you want to add or remove from cover. In most cases it works out cheaper to purchase cover as a group rather than as individuals.
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