5 Reasons Why Now Is The Perfect Time To Look Into Private Medical Insurance

The Covid-19 pandemic has caused many individuals to consider their health, their family’s health and mortality in general. It’s a reality that has led many to investigate the benefits of private healthcare in the UK and review whether private medical insurance would be a smart investment for themselves and their family.

For many, it won’t be the first time they’ve looked into private medical insurance. However, it could absolutely be the right time, especially considering that many of the previously perceived barriers to adoption are now no longer in place.

Here are five reasons why now is the perfect time to look into private medical insurance:

1. An existing health condition is no longer a barrier to great cover

In the past, an existing health condition was seen as a huge barrier to securing competitive private medical insurance. This is no longer the case.

Many insurers will now provide cover to individuals with existing conditions — even cancer. So don’t automatically assume that an existing medical condition will prevent you from accessing competitive cover. The best way is to see what’s available and take it from there.

2. PMI claims are on the up

As we highlighted back in December, following a prolonged period of reduced activity levels because of the Covid-19 pandemic, the private insured and self-pay healthcare market has largely recovered. In fact, some private specialities are witnessing higher volumes than prior to the pandemic.

When private hospitals began reopening in September last year, private healthcare UK claims increased to levels beyond what we would normally expect. So don’t think the pandemic has rendered private medical insurance null and void; quite the opposite.

3. The private medical insurance market is more competitive than ever

With people paying more attention to their health and wellbeing, and subsequently checking out what’s on offer in the private medical insurance market, insurers have had to tweak their offers to stand out.

As a result, the private medical insurance market is more competitive than ever, which means greater value for consumers.

[Related reading: The Benefits Of Private Medical Insurance In 2021]

4. More independent brokers = more choice

With more independent brokers out there and a wide range of private medical insurance policies, it’s never been easier to switch providers or secure insurance for the first time.

Furthermore, brokers afford consumers more choice and can also help them understand exactly which policy is best suited for their needs and wants.

5. Insurers want to retain their market shares

Finally, more demand for private medical insurance means insurers want to retain their customers and market shares. This translates into more insurers offering competitively priced, value-add packages, which makes now one of the best times to investigate further.

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If you’ve previously looked into private healthcare in the UK, or have been considering securing private medical insurance, there really is no better time than now.

Here at Premier Choice Group, our professional advisers have established relationships with all the major insurers, which means more choice, better value and perfect cover for you.

Author: Rebecca Faulks - Consumer Account Manager