WHAT PRICE HEALTH INSURANCE?
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PHI tends to be thought of as expensive, but compared with the costs and benefits of Class 2 and Class 4 National Insurance, it looks very reasonable. For a man in a Class 1 occupation, with a 13-week deferment, the annual cast of the premiums works out at between 1 and 7`..6 of the annual cover, depending on his age at joining. Someone aged 40, wanting to insure £10,000 a year cover, inflation-proofed, to age 65, might expect to he quoted a rate of around £25 a month.
Companies vary not only in their conditions and overall premium levels, but also in the degree of loading they apply to any particular joining age, so the overall hest buy will vary according to individual circumstances.
Companies offering policies include Axa, Friends Provident, Norwich Union, Permanent, Unum, Zurich and others. Some will require a medical examination, for which they pay, before accepting you. The best way to shop around is to use the services of a good financial adviser.