For many years, I’ve helped clients protect their families and their wishes through Wills and estate planning.More recently, I’ve returned to my roots, advising people on another important area of financial wellbeing – protection.
That includes life insurance, critical illness cover, income protection and private health insurance.
One area I’ve found more and more people want to talk about is health cover, and it’s easy to understand why.
Why private health insurance is becoming more important
The NHS does an incredible job, but there’s no escaping the fact that it’s under significant pressure. Waiting times for appointments, diagnostic tests and treatment can often be much longer than any of us would like.
When you’re worried about your health, the last thing you want is uncertainty or a lengthy wait for answers.
Private health insurance can give you faster access to specialists, diagnostic tests and treatment, helping you get back to normal life sooner. While it doesn’t replace the NHS, it can complement it by providing greater choice and quicker access when you need it most.
You may already have health cover without realising it
One of the biggest misconceptions I come across is that people assume they don’t have any private health cover because they’ve never taken out a policy themselves.
In reality, many employers now include health and wellbeing benefits as part of their employee package.
These benefits can include:
✓ Private medical insurance
✓ Virtual GP appointments
✓ Health cash plans
✓ Mental health support
✓ Physiotherapy
✓ Employee Assistance Programmes (EAPs)
✓ Access to specialist consultations
The problem is that many people either don’t know these benefits exist or aren’t sure exactly what they’re entitled to.
When did you last review your employee benefits?
I recently read an article in IFA Magazine highlighting that many employers believe their staff don’t fully understand the benefits available to them.
It made me wonder how many people are paying for cover they may already have, or perhaps assuming they’re fully protected when there are actually significant gaps.
If you’ve changed jobs, been promoted or simply haven’t looked at your benefits package for a while, it’s worth taking another look.
Ask yourself:
✓ Do I know exactly what health benefits my employer provides?
✓ Does my cover extend to my family?
✓ Are there limits on treatment or hospital choice?
✓ What happens if I leave my employer?
✓ Would my existing benefits be enough if I became seriously ill?
They’re simple questions, but they’re important ones.
Health insurance is only one part of the picture
Even if you have excellent medical cover through work, it’s worth considering what would happen if illness stopped you from earning an income.
Health insurance can help you access treatment more quickly, but it won’t replace your salary if you’re unable to work.
That’s why I always encourage clients to look at their protection as a whole. Life insurance, critical illness cover, income protection and health insurance all play different roles, and together they can provide reassurance that you and your family are financially protected if the unexpected happens.
Let’s review your protection
Every person and every family is different. What works well for one person may not be right for another.
Whether you already have health cover through work, are thinking about taking out a private policy, or simply want to understand what protection you already have, I’d be happy to help.
A protection review isn’t about buying more insurance than you need. It’s about understanding what you already have, identifying any gaps and making informed decisions based on your own circumstances.
If it’s been a while since you’ve reviewed your protection, or you’re unsure whether your workplace benefits are enough, please get in touch.
A simple conversation today could give you confidence that you and your family are properly protected for whatever the future may bring.
