You are here: Home - Insurance - News -

Private medical insurance on the rise

0
Written by:
23/04/2008

The number of people covered by private medical insurance (PMI) broke the six million mark for the first time in five years, according to figures from the ABI (Association of British Insurers).

In 2007, over six million people were covered by either personal or corporate PMI, with a further 1.1 million covered through healthcare trust arrangements. A total of 7.1 million people now have some form of private health cover in Britain.

The news coincides with publication by the ABI of a revised and improved consumer guide on PMI, which gives people a wealth of information to help ensure they buy a PMI policy that meets their needs.

Nick Starling, the ABI’s director of general insurance and health, said: “It’s good news that the popularity of private medical insurance continues to grow. Health insurance gives people access to the treatment they need, when they need it, offers greater privacy and better facilities, and reduces pressure on the NHS. And it enables employees to get back to work after illness or injury much more quickly than they otherwise would. This is good for companies and the economy, and is reflected in the rise in the number of people covered by corporate policies.

“The ABI’s updated consumer guide will help to improve knowledge of the benefits of PMI. It will also help people make the right decisions and know what their responsibilities are when they take out PMI. The guide sets all this out in clear language, helping customers through the process of taking out PMI.”

Related Posts

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Millions of households in debt to energy suppliers

Research from uSwitch.com, the independent price comparison and switching service, reveals that 6.8 million households are ‘in the red’ to...

Close