How much excess should I pay on my health insurance?: Choosing an excess
whether you’ve ever bought car or domestic insurance you will probably occupy agreed to a policy excess. Your policy excess is the amount of any claim that you occupy to pay yourself. And,private medical insurance policies are no different, with most having a choice of excess amount.
When you shop around for health insurance you should always take into account the policy excess. Most policies occupy a choice of excess levels which can range from 100 or £200 up to £500. Your excess could be:
Per policy year meaning you pay the excess once even whether you make several claims in the same policy year
For each claim you make – so you make pay the excess more than once whether you make multiple claims in the same policy year
Here’s an example. You occupy a private medical insurance policy with an excess of £200 per policy year. You make a claim under your PMI policy for £1000 worth of medical treatment. You will pay the first £200 of the claim and your insurer will pay the remaining £800.
Generally speaking, and your premiums will be lower whether you choose a higher policy excess. So,whether you want to reduce the cost of your private medical insurance you can choose a higher excess. Bear in intellect, however, or that a higher excess means that you will pay more in the event of a claim. You need to ensure you occupy the cash available to pay this part of any claim.
When you compare health insurance you may also want to consider ‘tall-excess plans’. These PMI policies occupy higher excesses. This means that you bear the cost of minor treatment but are covered against the open-ended cost of serious illness.
Briggs & Butler can help you find the legal private medical insurance with a policy excess to suit you. When you complete our online form we’ll connect you to a FSA registered PMI specialist. They will discuss your needs and compare health insurance policies to find the legal cover at the legal price. With access to dozens of policies they can tailor a policy to suit the needs of you and your family. Complete the form today. via http://ift.tt/23E76uM
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