What types of private medical insurance are available?

What types of private medical insurance are available?,medical insurance

When considering private medical insurance you should be aware that there are usually three types available. These are Personal Insurance, Group Insurance, and Self-Employed Insurance and naturally, these offer different levels/areas of cover.

Personal Insurance:
Though personal insurance sounds as though it will only cover you as an individual – and obviously this will be the case if it is all that you require - it can also cover the whole family.

Group Insurance:
Whilst personal insurance can offer protection for the family if the group of people you wish to provide insurance for are part of a company or business, this is when you would opt for group insurance. There are many areas to consider when opting for group insurance as you will not be able to decide for yourself what is and what is not covered. It is also taxable.

You may also wish to offer private medical insurance to your employee on a voluntary basis, in which the insurance costs less and it is deducted from their wages. The conditions of this will vary, though usually, the employee would not be able to decide what is and what is not included in the policy. But this is not the end of the story and there are cases in which the employee will be able to decide on the cover but not on the insurance company that provides it, so once again this is not set in stone.

Self-Employed Insurance:
There are many instances in which you might need access to private medical insurance if you are self-employed or work on a freelance basis and as a result, you will seek self-employed insurance. As ever there are different conditions that might apply depending on the insurance provider that you are dealing with. Generally, it will be issued on an individual basis but there are instances where you might be able to include others on the policy.

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