The National Health Service is a unique institution that we should all be proud of as it ensures that everyone in the UK has access to health care. However, the NHS can only do so much, so many people turn to private health insurance to speed up their access to treatment or to meet certain expenses which are not covered by the NHS.

While there are many different health insurance products available, they can be split in to three broad types:

• Private medical insurance: These products aim to meet the cost of treatment if you are hospitalised, although most can be extended to also cover day-care surgery and the cost of certain ‘out-patient’ treatments such as specialists and consultants. The cost of cover depends on your age, gender and medical history. You can usually also reduce the cost if you pay an ‘excess’ (i.e. the first amount of any treatment costs incurred) or if you opt for a policy which will only operate if you cannot get the treatment under the NHS within a specified time.
• Health cash plan: These products pay cash sums towards everyday healthcare bills such as a maximum amount (e.g. £100) for optical care or a set amount (e.g. £20) for each night you spend in hospital. Most providers offer a range of policies which cover a variety of different treatment expenses, and with different levels of payouts. The cost of cover depends on a number of factors including the cover selected, your age, gender and medical history.
• Dental insurance: This is simply a health cash plan that focuses on dental care and so aims to pay a contribution towards treatments such as crowns, root canal work, bridges and dentures up to an agreed maximum each year. Cover varies and many plans exclude more serious work such as oral cancer, surgery and serious dental abscesses. Some have a qualifying period which means that they will not pay out towards any treatment undergone in the first few months of the policy.

If you feel that you and your family could benefit from the additional protection provided by one of the above products, have a chat with your Independent Financial Advisor. They will be able to advice you further on the different products available and to help you select the cover which is most appropriate for your family’s needs.