Private Medical Insurance What s It All About
Below is a MRR and PLR article in category Finance -> subcategory Insurance.
Understanding Private Medical Insurance
What's It All About?
Private medical insurance can be an essential policy, offering coverage that meets specific needs. However, with a variety of options available, it's crucial to ensure the terms align with your requirements.
The roots of private medical insurance date back to before the formation of the NHS. In those times, people contributed to friendly societies that provided financial help during times of need. Some providers, like BUPA, remain non-profit organizations, although many commercial companies now offer private medical insurance. A prominent name in this field is AXA PPP Healthcare, which began in 1938 to provide health insurance for middle-income earners in London.
The primary purpose of private medical insurance is to cover acute illnesses, defined by Which? as conditions that can be cured or significantly alleviated through treatment. Chronic illnesses, like multiple sclerosis or arthritis, typically aren't covered, so critical illness insurance might be more appropriate. It’s important to select a policy based on your individual requirements and to be transparent with your insurance provider to avoid invalidating future claims.
Generally, private medical insurance doesn't cover cosmetic surgery, treatments for alcohol or drug abuse, or infertility treatments. Most standard policies exclude private GP consultations, routine check-ups, and dental work unless performed in a hospital. However, policies can vary, so it's essential to review the details.
Private medical insurance ensures timely access to medical care, but remember that policies are tailored to individual circumstances?"there's no universal option.
For more information on private medical insurance and critical illness coverage:
- Be Your Own Financial Advisor, by Jonquil Lowe
- [AXA PPP Healthcare](http://www.axappphealthcare.co.uk) (Private healthcare in the UK)
- [Critical Illness Insurance Information](http://www.moneynet.co.uk/insurance/critical-illness/index.shtml)
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