Health insurance is designed to cover the cost of private medical treatment for illnesses or injuries.
In most cases, you will pay a monthly premium for your health insurance. When medical treatment is required, the supplier will pay out subject to any excess you choose, up to an agreed cover amount.
There are a number of types of health insurance. Most policies will cover essential treatments, but if you’d prefer to secure specialist therapies and complementary medicines, it is possible to pay for more comprehensive health cover.
It’s worth remembering that certain policies offer to reduce the cost of your cover if you can demonstrate that you lead a healthy lifestyle (e.g. if you go to the gym regularly). Others offer health cash plans, which contribute to your routine healthcare costs. These plans pay out a cash sum when you visit a medical practitioner (such as an optician or dentist).
It is also possible to reduce the cost of your cover by choosing a higher excess. This is the amount you will pay towards the cost of your treatment so make sure you can afford the excess you choose. An excess can apply each year or against each claim so check the options available.