Friday, 18 November 2016

Private Medical Insurance Renewals

If you've had your medical insurance through recently and it has increased more than you expected then you need to speak to an independent medical insurance intermediary like myself.

Every month I review renewals for dozens of my clients checking that pricing remains reasonable and it is a vital part of looking after their medical insurance plans more generally.

As a general principle I initially check the increase against last years price and would view (taking into account age increases and medical inflation) an increase of less than 10% as usually acceptable. If the price goes up by 10% or more this more or less automatically would lead me to sanity check this pricing by undertaking a full market review for the client. This may not be with a view to switching insurer necessarily (although that can be an option) but rather the client and I need to understand how their pricing is calculated and if anything can be done to mitigate any increase. The process is relatively involved and a full renewal review usually goes out to a client in two to three working days.

If you have received your medical insurance renewal through and are not happy with the new proposed amount don't just automatically renew with your current insurer - drop me a line or click here and I will gladly undertake a free review for you.

Phil Knight
07792 075748

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