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   1. Car Insurance
   2. Travel Insurance
   3. Health Insurance
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Health Insurance

Health insurance is for hypochondriacs - at least that's what the grumpy old man sat in the corner of the Nag's Head sipping half a bitter used to say.

Did he - I thought he just moaned about the war and the youth of today?

Not this one, health insurance is his bug, and his theory may be right in principle - after all, why should we pay for something we never use? But the same applies to car insurance doesn't it… In an ideal world you never crash your car, but you still have to pay for insurance… Maybe health insurance, also known as Private Medical Insurance (or PMI), should be treated the same.

But I can use the NHS for free…

Huh, the NHS is about as much use as a one legged cat trying to bury a turd in a frozen lake. All that money the taxman takes from us under the dodgy banner of 'National Insurance' just doesn't seem to be making it to the hospital floor. We still hear countless stories about staff shortages, poor performances and, above all, waiting list problems at NHS hospitals.

You're sounding like a grumpy old man now.

Maybe so, but health insurance is one way to jump these long waiting queues. At your own expense of course. And you may have to pay extra for the nurses in miniskirts…

HOW DOES IT WORK THEN?

Health insurance is designed to help towards the cost of private treatments for curable, short-term illness or injury and it can give you the reassurance of knowing that you will receive prompt treatment from a specialist of your choice at a private hospital at a time that suits you.

So how much does it cost?

For comprehensive cover you're looking at the region of £30 a month for a 30 year old. However, as you get older, you are more likely have bits fall off, so you will have to pay more. And, as with all insurance, the premiums for health insurance are based on a number of factors, including age, gender, state of health, pre-existing medical conditions, etc. And of course, if you do claim insurance for treatment, you become a greater actuarial risk, and your premiums increase accordingly. Nice.

Is it likely to get cheaper in the future?

As long as there is a hole in my bottom, the answer is no. As with any form of insurance, health insurance requires a growing pool of people paying premiums to help keep premiums down. The number of people buying health insurance has been steadily falling, however, and insurers are passing on the increases in cost of claims to individuals.

Go on then - the excess - hit me with it.

You can arrange an excess to keep your health insurance premiums down. To do this however, there is the element of taking a certain amount of responsibility for your own healthcare - you know, eating healthy and all that crap. Some companies offer health insurance plans that incorporate an excess of £1,500 for under 60s and £3,000 for the over 60s. Ouch.

Ouch indeed. What's your final thought then, old man?

Health insurance is a business like any other. If the truth be told, most insurers care little or nothing about your health. They are tighter than a group of Jewish Accountants and will, if they can, wriggle out of stumping up for a claim. If, for instance, they can insinuate the condition you're claiming for was pre-existing - they simply won't pay up. As always, be sure to read the small print. Carefully.

Go on then, get a quote for health insurance, here and now.

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 If the only tool in your toolbox is a hammer, every problem looks like a nail. 

Al Ries & Laura Ries