According to data from a leading health insurance comparison website, demand for private health insurance policies surged by 46% in the first eight months of 2021 compared to the same period in 2019, the year before the pandemic began. Demand for private health cover often increases during times of uncertainty, with more modest increases recorded in the wake of the global recession in 2008 and the Brexit vote in 2016. However, this trend has been particularly pronounced in 2021, likely because the current crisis is a medical one.
The findings, which were compiled by Quotezone.co.uk, shows more women than men searching for health insurance policies over the last three years, although the ratio was fairly balanced before lockdown ensued, with 2019 showing 11% more women and 2020 showing just 0.3% more. 2021 on the other hand, shows 34% more women than men seeking private medical cover.
Private Health Insurance or Personal Health Insurance is an insurance policy aimed at covering the costs of medical treatment for people who choose to have private care, an alternative to using the NHS.
Greg Wilson, Founder of Quotezone.co.uk, a leading health insurance comparison site comments: “It’s not surprising that during the pandemic we’ve witnessed a spike in demand for private health insurance, given the pressures the NHS has been under – causing increased wait times, appointment backlogs and even cancelled procedures.
“I know the pandemic has made everyone think more seriously about their health, with a renewed focus on immune boosting exercise like wild water swimming and fresh home cooked meals now that working from home has allowed more time to prepare dinner, so it makes sense that there’s a surge in people wanting to do all they can to protect themselves and their families with measures like health insurance.”
Quotezone.co.uk has just launched a new comparison feature with award-winning health insurance partner Assured Futures – comparing one of the largest panels of insurers in the UK. During April 2021 Assured Futures clients saved an average of 23%, with an average saving of £587.45 per year.
Assured Futures Leading Protection Broker Graham Gorman comments: “As a result of the pandemic the NHS continues to be put under unprecedented pressure and record waiting lists. Private medical insurance has never been more relevant as an alternative, to avoid those NHS waiting lists whilst getting a choice of where and when you are treated in comfortable private facilities. At Assured Futures we have the widest range and can cater for every budget, and also add useful additional services into the policy, such as Virtual GPs or mental health support.”
Personal Medical Insurance (PMI) gives customers a choice in the level of care they get, how and when it is provided with specialist referrals, scans, choice over which hospital they go to and possibly a private room, possible access to drugs not available on the NHS and reduced waiting times.
Quotezone.co.uk helps around 3 million users find better deals on their insurance and personal finance solutions each year and is recommended by 97% of reviewers on Reviews.co.uk – covering over 60 products including niche items such as health insurance, life insurance and mortgage protection insurance.
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