But is private health insurance worth the money? This article looks at the pros and cons of private health insurance and by the end, we hope you will be able to decide for yourself.
Why do I need health insurance?
Speak to any medical professional, or insurer for that matter, and ask them why you need health insurance and they're likely to answer that you don’t necessarily need it, that it isn’t essential. In the UK we are lucky to have free access to healthcare via the NHS, so let’s not beat around the bush, private health insurance is a luxury, not a necessity. That said, there are still a significant number of benefits to having private medical insurance, which is why almost 11% of us in the UK have this type of protection.
To better understand whether you’d benefit from private health insurance, we’d recommend reading up on the topic and then speaking to an expert prior to reviewing policies. Here are a few of our recent articles which are a good place to start your reading:
- What is health insurance? - This article covers all of the basics and goes into some detail about how health insurance can benefit various types of people.
- What is private healthcare? - This article focusses on how treatments work via private healthcare in the UK, including information about the various providers and hospitals.
- Best private health insurance - This article reviews the UK’s leading providers and their best policies.
Pros and Cons of Health Insurance
Before purchasing a health insurance policy, it’s important to make sure you’re aware of all of the benefits and the disadvantages that are associated. It’s quite common not to see value in all of the benefits a health insurance policy offers, which is why it’s worthwhile speaking to an expert to configure your plan before you buy. Don’t need to use central London hospitals? OK. Want access to a virtual GP? No problem. Simply let your advisor know what is and isn’t important to you and they will do the rest.