What is Private Medical Insurance?
What is Private Medical Insurance?
Private Medical insurance (PMI) is an insurance policy which covers the cost of private healthcare. It works in a similar way to any other type of insurance.
– You will pay monthly or annual premiums
– The provider will pay out some or all of the cost of the treatment you receive.
– You can take out policy to cover, yourself, your family, or even your employees
Types of cover?
There are three main types of PMI;
1. Basic – this will usually pay for treatment and any related costs while you are an inpatient.
2. Medium – this will usually cover outpatient care as well as inpatient support.
3. Comprehensive – this includes everything in the basic and medium package, but will cover extra treatment like, mental health care and physiotherapy.
Will I be accepted for PMI?
PMI is usually used to cover conditions that occur or develop after you’ve taken out the policy. However, if you have a pre–existing condition you may still be able to buy private medical insurance,
How much does PMI cost?
The costs will vary, this is why it is important to seek advice from one of our expert protection advisers at Financial Foresight today! We can compare the whole of the market to ensure you get the best package to fit your tailored needs.
If you would like further information regarding this type of insurance, please contact us on 028 9332 2822, or email simon@financialforesight.co.uk to receive your free initial quote today.