Medical Insurance
If you are contemplating either Private Medical Insurance, Income Protection due to illness or Critical Illness Cover, it is necessary to navigate through a minefield of insurance product names, definitions, terms of cover, benefits and exclusions. Money Only will attempt to compare medical insurance information shed some light on such plans and policies so that you may make informed judgements and decisions concerning Healthcare Insurance.
Private Medical Insurance (PMI)
PMI is a health insurance UK plan intended for use when covering the costs of private medical treatment for curable short term medical conditions, referred to frequently as acute conditions. PMI may cover the costs of surgery, specialists, accommodation and nursing at a private hospital or in a private ward of an NHS hospital.
Plans offered usually come in two types, Standard or Comprehensive.
- A Standard Plan covers hospital or emergency treatment with no optional extras or cover for Outpatient treatment. Under a Standard Plan you will usually be covered for Inpatient and Day-care treatment only.
- Comprehensive Plans often add extra modules or options to cover Outpatient treatment, dental treatment, complementary medicine, maternity, travel and personal accident.
In general, personal medical insurance plans do not cover CHRONIC or CRITICAL illness which cannot be cured, for example multiple sclerosis, asthma or diabetes. However, in a crisis, most PMI policies will pay the cost of treatment for stabilising a patient and returning them to their previous level of health when possible.
PMI contracts are offered on an annual basis, with premiums payable monthly, quarterly or annually. Once you are in a plan, the health insurance UK cover provider usually continues to offer cover, year on year, albeit at an increasing premium with age.
We compare medical insurance across many providers and offer the 3 below. Click the provider you wish to obtain a quote from.
Prudential Health |
HSA |
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American Express |
