Private health insurance: What it is, what you should know, and whether it is worth getting for you
Private health insurance, or private medical insurance is an independent form of cover that you can take out which will ensure instant private treatment in the case that you fall ill with a disease or injury that necessitates quick action in order to give the best chance of a positive resolution. Diseases that fall into this category would typically be cancer and heart problems, where early treatment is usually given as the best course of action in order to counteract the illness.
It is important to remember that private medical insurance does not come at a low cost, and is only suited to people of certain circumstances as the people of Britain benefit from receiving full medical treatment through the NHS, irrespective of their financial situation. However, if you are someone who wishes to receive treatment quickly on any illness you may have in the future, without having to wait months on a waiting list, then attaining private medical insurance may well be suited to you as you will be consulted and dealt with in a swift manner.
Things to remember
Outstanding medical conditions are not included in the insurance
You will be not be covered for and receive any private treatment for any illnesses or injuries that you picked up prior to the start of your insurance arrangement. This means that you can only receive private cover for injuries and illnesses you have obtained after taking out the policy, so if you are looking for swift treatment now, then you are better off looking for a different product.
Insurance premiums rise on a yearly basis
Insurance premiums with health cover are usually quite high, and unfortunately if you take out private medical insurance, you will have to deal with the likelihood that your premiums will increase at a higher rate than the UKís inflation each year.
Check which illnesses and injuries are covered in your insurance
All private medical insurance policies are different, and there are many injuries and services that are not included in many deals. Remember to read the conditions of your insurance clearly before signing up, as this will be essential in ensuring that you acquire the right insurance package for your circumstances.
How to get private medical insurance
The method to acquire private medical insurance varies depending on whether you have an outstanding medical condition or not at this present time. If you do, then filling in and handing in a questionnaire form about your condition is the best course of action, whilst those who are currently healthy should take the auto-exclusion route, both of which will be detailed and elaborated on below.
Questionnaire form for those currently ill/injured
If you are currently ill, or have a medical condition that you are aware you have suffered from before and are in danger of relapsing on, then you will have to undertake a full medical underwriting and hand it into your insurer in order to acquire legitimate cover.
The process entails you acquiring a health questionnaire form, that will query you about your past medical conditions and the treatment you have undergone to overcome it. In certain cases, verification with your previous hospital or doctor will be required, and you may have to send in written testimonies from your presiding GP in order to legitimate your application. It is important to remember that you must fill in everything truthfully and accurately, as your insurer will likely cancel your arrangement if they find out in the future that there are false details on the form.
After you have done this, simply hand your form in or post it to you insurer, and they will get back to you with the payment arrangement, the details of your cover, and the potential outcome should one of your pre-existing medical ailments arise again.
Auto-exclusion method for those currently healthy
For those who are currently healthy, and have not been faced with ongoing illnesses in recent times, acquiring private medical insurance is a lot easier and less time consuming. You will have to undertake a moratorium underwriting, which essentially involves you handing in paper details of any medical illnesses or injuries you have been treated for in the last 5 years. Once these have been identified, you will be unable at first to receive cover if any of these ailments arise again, though it may arise later on down the line that you may have breached the necessary time period to qualify.
As you have taken this course of action, it is likely that very few illnesses will be excluded from cover, and you must simply be honest and give proof of your details in order to attain a swift acquisition of your desired cover.
Remember to compare online for cheapest results
Using a comparison site is an essential tool in order to ascertain what the most beneficial and competitive insurance deals are on the market. Even if you do not use the comparison site in order to facilitate your acquisition of your insurance, it can still be a great starting point and will put you in the right direction for finding the best cover available to you.
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