Health Insurance -
More People Choosing Private Health Insurance, says ABI - 25/04/2008
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The Association of British Insurance (ABI) has said that an unprecedented number of people in the UK are taking out private health insurance.
The number, which is the highest in the last five years, shows more than 6 million people purchasing private medical insurance (PMI) in 2007, with a total of 6,004,000 Brits being covered by either personal or corporate PMI. Healthcare Trust arrangements also cover another 1 million people.
The ABI added that more than 7 million people are covered by private health insurance policies, adding that it coincides with its revised consumer guide on private medical insurance, which encourages people to take out those that are appropriate for their needs.
Commenting on the development, ABI’s director of general insurance and health, Nick Starling described it as good news.
He said that: “Health insurance gives people across the UK access to the private treatment they need, when they need it, offers greater privacy and better facilities, and reduces pressure on the NHS.
“And it enables employees to get back to work after illness or injury much more quickly than they otherwise would.”
He added that such arrangement was good for companies and the economy, which was reflected in the rise in the number of people covered by corporate policies.
The ABI, he said, would help in improving consumers’ knowledge of the benefits of PMI via updated guides.
Bupa medical insurance figures also confirmed the rise, as the firm said it saw a growing demand last year, which continued into 2008 with 20 per cent increase on the same time last year.
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