New medical insurance costs less than you think

Last week I was contacted by a client in their early forties who was interested in new cover for themselves but had a strict budget of £ 60 per month, he thought that it would be impossible to offer decent new cover for this amount but I fact-finded the details I needed from him to provide some initial figures and agreed to put together a market review and new client report for him.

Here's an amended excerpt from the pricing table of my report showing some of the cover options available (I have removed the insurer and proper plan details and other bits and bobs of detail I would include in a live client report along with rounding the pricing to the nearest pound - obviously I'm not trying to offer advice on specific products or recommend particular insurers in a blog post or anything  :

Insurer	Product & options	Price	Underwriting Method
ABC UK	Limited Hospital list Product	£ 46.00 per month	New Moratorium
DEF & Co	Health Cover	£ 51.00 per month	New Moratorium
GHI Inc.	Plan of Health	£ 56.00 per month	New Moratorium
JKL Plc	Prestige Cover	£ 56.00 per month	New Moratorium

That lowest cost option with 'ABC UK' is in fact a fully comprehensive plan covering full in-patient and out-patient cover and a £ 100 excess per person per plan year. This is a very competitive and comprehensive plan and is the option I have recommended for this particular client at the first stage of my review (before having spoken to them in depth about their more specific requirements beyond the overall price). There is a compromise in that access to hospitals is slightly restricted on this product but local coverage is good for this client and it's an excellent option. Obviously I will run through the product & benefit pro's and con's with the client when we speak.

You see, PMI cover is actually much lower cost than most people imagine, I'm still waiting for this client to come back to me but I'm reasonably confident that he will go ahead - if you thought that medical insurance was going to be much more than this story indicates then why not give me call or drop me an e-amil and I will look at a free review for you too.

Catch up with me on : 07792 075748 or philknight@pch.uk.com