Private medical insurance growing in popularity
Figures from the Association of British Insurers (ABI) show that the number of people covered by private medical insurance (PMI) has exceeded the six million mark for the first time in 5 years.
Despite the economic downturn, insurer BUPA has experienced a 20% increase in sales in the first quarter of this year.
Fears of dirty NHS hospitals and quicker treatment are cited as the main reason for the increase.
Fergus Kee of Bupa UK Health Insurance said our research shows that for 65% of Britons, access to clean hospitals is the most important reason for taking out PMI.
Statistics show that last year, over six million people had PMI with a total of 6,004,000 Britons being covered by either personal or corporate PMI and a further million being covered though Healthcare Trust arrangements.
The ABI confirmed that over seven million people Britons now have private health cover.
Nick Starling, the ABI’s director of general insurance and health, said it is 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. It enables employees to get back to work after illness or injury much more quickly than they otherwise would, added Mr Starling.
This is good for companies and the economy, and is reflected in the increase in the amount of people covered by corporate policies, concluded Mr Starling.