5 Steps To Finding Affordable Health Insurance

By Author: Chloe Hibbert
Total Articles: 2
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Nobody wants to think about falling ill, but if you do have a problem with your health it is reassuring to know that you are receiving the best treatment that the UK has to offer. Private health insurance is an easy way to guarantee that you will receive quick healthcare at a hospital of your choice, without waiting on the NHS. Here are our top 5 ways to find your perfect private medical insurance plan.

1) Do your research

The first thing you should consider when looking for health insurance is your own expectations of a policy. This type of insurance can be used in a variety of different ways, and no one will want the same thing from their cover. Think about what is most important to you: are you looking for a quick diagnosis, treatment in a specific private hospital, or accessing new drugs? You may even want cover for complementary therapies. Whatever you are looking for, there should be a policy on the market that fits.

2) Decide on your budget

Health insurance has a reputation for being expensive. But like many insurance products it can be as cheap or as costly as you want. Basic policies can ...
... be fairly cheap, but may not offer very extensive coverage. Comprehensive policies will cover everything, but the premiums can be high as a result. Make a note of your financial limit and stick to it, but always check the small print to make sure you are happy with the level of cover.

3) Compare the market

In the UK there are over 11 different health insurers, and each one offers a wide range of different plans. You could look through all of their websites yourself, but this is likely to take a lot of time and effort. A good health insurance comparison website will show health insurance quotes from all the providers and let you judge them side by side.

4) Choose your underwriting

Your underwriting method will determine what you get covered on your policy in the future. For people with a complicated medical history, full medical underwriting will be the best method to choose. This will require you to undertake a medical questionnaire, and you will be told before the start of the policy what is and what is not covered.

A moratorium policy is simpler- anything you have suffered from in the first 5 years will not be covered, but if you go advice, symptom and treatment free for two continuous years after taking out the policy then it will be covered in the future. Speak to a broker like ActiveQuote for more information.

5) Look for a discount scheme

If you want to save money on your premiums then look to increase the excess, reduce the amount of hospitals covered by your policy, or add a six week option. With a six week option, you agree that if the NHS can treat you within 6 weeks then you go with them. If not, you go private straight away. These all bring the premiums down to a more manageable price.

By following these tips, you will find a health insurance policy that suits your needs and your budget.

Jamie writes on private medical insurance and income protection insurance for an insurance comparison website.