What's it like to have your medical insurance needs reviewed ?

If you're a prospective client who's interested in looking at medical insurance what is the process, how will I approach your case ?

Well the first job with a new client is to explain the need for independent advice, tell them who I am and some of the regulatory rules around how it works and give them my client terms of business letter - an FCA requirement. Don't worry though, even this regulatory bit is fairly painless and only takes a few moments (although it's obviously important). If we aren't meeting and I'm working over the phone or by e-mail obviously I'll send you over the relevant documents and explain what they all mean.

Then comes the clever bit. We chat, I ask you some questions about yourself and your requirements - this part is called fact-finding. I note all of this down and use the information supplied to provide a review of the market from a number of insurers. As an independent whole of market adviser I can go to several insurers appropriate for your requirements.

For most new clients I will obtain prices for a range of products, benefit levels and excesses so we have a number of different options to discuss. For personal clients I will turn around a new client report in two to three working days and for companies in five or six (a bit longer because companies reports tend to be a bit more complex and insurers take a bit longer to produce price illustrations).

This service is incidentally free to all of my clients - I only receive a commission (from the insurer, not the client) if the business proceeds and you take my advice.  

Once the report is prepped I will send you over the pdf copy of the report by e-mail and arrange to discuss it when convenient. I'll also usually at this stage make an initial recommendation based on the pricing and our chat but obviously this is pending final discussions with the client. In many cases I will need to go away and tweak some of the quotes to meet needs more exactly. Start to finish the process takes around a week to ten days in total usually and for you, other than actually filling in the form and paying the premiums, the time commitment is probably 20 or 30 minutes. The aim is to sort the right cover for you and ensure that I'm giving you the information you need in a succinct and transparent way.

I've been doing this now for a lot of years and my experience is that when spending their money on medical insurance my clients want the price, the information, the advice and access to someone who knows what they're talking about but equally they do not want to waste their time.

All in all, setting up or reviewing a medical insurance plan is a quick and easy process for the client and I am always delighted to chat about how this works with potential new clients even if they don't decide to move ahead - as I mention above, a review is free and you might be surprised how low cost PMI cover is or how much money I can save you against your current renewal premium.

For more information, contact me on 07792 075748 or philknight@pch.uk.com