PMI customers can enjoy hefty discounts by staying fit
September 20, 2007 by admin
Filed under News, News-Insurance
A recent report has shown that there has been a rise in the number of people taking out private medical insurance this year compared to last year.
The rise of around 1.5% is thought to be because many PMI providers are offering huge discounts to those that are prepared to try and stay fit and healthy, which means that many consumers can enjoy far lower premiums. In the past the level of interest in this type of cover had fallen due to increased costs on premiums.
Some PMI providers are now offering discounts of up to 75% to consumers that have no serious health problems, do not smoke, go to the gym, and lead a healthy lifestyle, as these factors all reduce the risk of claims. In addition, many PMI providers are now also offering no claims discounts to consumers, much in the same way as car insurance companies do, and in some cases these discounts can be transferred if the consumers switches provider.
In some cases insurance companies are allowing consumers to pay larger excesses, which helps to keep the cost of premiums down further. One industry official stated: ‘We found many people were prepared to pay a much higher excess in return for lower monthly premiums. This is especially true of the elderly, who often have more savings in place than younger policyholders. It gives customers more options.’
In addition to leading healthier lifestyles and paying higher excesses, consumers that want to enjoy the protection of private medical insurance should also shop around for the most competitive deals, as this can also help to ensure that the cost of cover is kept down. One official stated: ‘Savings can be made by switching insurer to a more competitive policy, even for the over-60s. The advantage of many of the policies offered by smaller companies is that premiums do not rise so sharply. This is because they have fewer claims.’
Tom Smith
20th September 2007
Students forgetting to take out insurance cover
September 13, 2007 by admin
Filed under News, News-Insurance
It has become traditional for many students in the UK to take a year out after graduating from university to travel the world or get some work experience abroad before settling down to handle ‘real life’.
For many students this is a hugely exciting prospect, and is their first taste of freedom and independence. However, some get so carried away with their plans for taking time out abroad, that they forget about the basics – the vital protection of travel insurance cover.
Travel insurance is vital for those going abroad for any length of time, and even more so for students that are intending to spend long periods of time abroad. Without this the student could really run into problems when it comes to anything from lost and damaged belongings to medical and emergency treatment. Experts are now urging parents to ensure that their children have taken out an adequate travel insurance policy before their head off on their travels.
One official stated: ‘Most parents wouldn’t dream of allowing their child to drive a car without insurance. Yet as many as one in four gap year travellers sets off without travel insurance. Parents could be putting their home at risk because if their child suffers an illness or accident and needs hospital treatment or repatriation, the costs can run into tens of thousands of pounds.’
One student explained how travel insurance cover had helped her when she ran into problems and her belongings were taken: ‘After such a bad experience, I wouldn’t now dream of going away without travel insurance. I have also fallen off a moped in Thailand, which required hospital treatment. Thankfully, my insurance covered me.’
Tom Smith
13th September 2007
Is international medical insurance something that you need?
August 27, 2007 by admin
Filed under News, News-Insurance
Most people in the UK are well aware of the benefits of having medical insurance, and many enjoy peace of mind thanks to the protection that this type of cover provides for them and their loved ones.
However, the needs of consumers looking for medical insurance cover have changed over recent years according to some industry experts, and this has also impacted on the type of cover that medical insurance companies are now able to offer to consumers.
Recent reports suggest that more and more consumers in the UK are opting to go abroad on a long term or even a permanent basis, with many deciding to head abroad to enjoy their retirement. Some younger people decide to head off abroad to enjoy some travelling experience and even to live and work abroad for a while. Many others travel abroad on a regular basis as a result of their work or business, again often spending extended periods of time in another country.
As a result of these lifestyle changes an increasing number of medical insurance firms are now offering international cover according to recent research, enabling those that intend to live or move abroad, or spend longer periods of time abroad, to enjoy the peace of mind of having cover even when they are away from home.
One industry professional stated: “We have done research that shows that the number of internationally mobile employees will continue to grow over the next five years. Add to this an extra 2.3 million Brits who are set to retire abroad and by 2020, and one in five older people who will be living outside the UK. So, naturally the number of companies providing international medical insurance has increased.”
Tom Smith
27th August 2007
