I believe that one of the most important things our industry does, is help you protect the important people in your life

 

A life insurance plan helps protect your loved ones financially if you die or you get ill. Your family will get a cash lump sum they can use to cover costs such as funeral expenses, debts, bills and helping your partner and children maintain their long-term needs, without you.

If you have a partner, children or any other dependents that rely on your income, then life insurance is for you. Most people will choose to take out life cover at key life moments including having a baby, getting married or nearing retirement.

If you’re a homeowner or in the process of buying a home, it’s also a good idea to think about life insurance to cover your mortgage. This means that if you die before you’ve paid off your mortgage, then your family don’t need to worry about the monthly repayments.

 

Most popular types of cover

Life Cover – Pays out a cash lump sum to your family if you die.

This can be taken over a defined period of time (length of your mortgage) or  for the whole of your life, so        that you have lifelong cover with a guaranteed payout on death

Serious Illness Cover – Pays out  a cash lump sum if you’re diagnosed with a serious illness or critical illness plan

Income Protection Cover – Pays you a monthly income if you get sick or injured and can’t work

 

Private Medical Insurance (PMI)

This style of insurance in the UK is designed to provide access to high-quality private medical facilities and medical treatments, at a time and place to suit you. It also plays an equally important role in helping fund the cost of early diagnosis and treatment of acute conditions. This could be anything from a few sessions of physiotherapy, to more complex procedures such as major heart surgery or biological therapy for the treatment of cancer.

What does health insurance cover?

Private medical insurance is designed to cover the cost of private medical treatment for acute conditions. An acute condition is a disease, illness or injury that is likely to respond quickly to treatment and return someone to the state of health they were in before, or lead to a full recovery.
It doesn’t usually cover treatment of long-term (chronic) conditions, where the main aim is to keep the symptoms under control – these are still treated within the NHS. Private medical insurance also won’t cover any pre-existing conditions that you may have when taking out a plan.

How does private medical insurance work?

For the majority of claims, medical treatment begins with a GP referral for specialist treatment. This can either be your NHS GP or a private GP. Any onward treatment is managed by working closely with your private medical insurer, to ensure that you have quick and easy access to the right medical treatment.

How is private medical insurance different from the NHS?

Private medical insurance is designed to work alongside all the services offered by the NHS, but focuses on providing quicker access to treatment for acute medical conditions. PMI members can still use all services offered by the NHS. But with pressures on the NHS to meet healthcare demands growing rapidly, compounded by increasingly stretched resources, PMI can play a complementary role.