Private Medical Insurance

What is private medical insurance?

The simple definition of private medical insurance (also known as private healthcare) is insurance cover for medical treatment paid for privately rather than supplied by the NHS.  Private medical insurance includes policies such as dental care and cash plans.

What does private medical insurance cover?

Private medical insurance usually covers the costs of treating acute conditions (a disease, illness or injury that is likely to respond to treatment).  In general, it will not cover the treatment of long-term and incurable illnesses.

Costs can vary tremendously, with the ability to reduce costs if, like car insurance, you take out the lower cover type policies or elect for a higher excess.  It is also possible to reduce costs by taking out a policy that provides cover if the NHS are not able to deal with the situation within, say, two weeks.

Financial advice

If you are unsure what type of insurance would be best for you and your family either now or for the future you should seek advice from a financial advisor who can advise you based on your income and current responsibilities.