Health Insurance Individual Quote
A health insurance individual quote reflects the cost of providing private medical cover to a single person. Unlike a family or group insurance quote, which include multiple members under a single contract, an individual quote is tailored to the needs of one member. If you are self employed or your employer does not offer health insurance as part of your benefits package, a health insurance individual quote will help you to decide whether private coverage fits your budget.
At one time, private cover was out of reach for all but the wealthiest individuals. Today, an affordable health insurance individual quote may persuade you that this valuable form of protection is within your reach. With private health insurance, you can enjoy access to fast treatment at comfortable private facilities without spending a fortune. Whilst private medical insurance will not replace the benefits you receive under National Health Service, your cover will extend your treatment options and may contribute to your overall health.
Individual Health Insurance Rates
The cost of individual health insurance is based on several criteria, including your age, gender, medical history, occupation and lifestyle. If you have a pre existing condition, you may receive a higher quote than an applicant who has an uncomplicated history. If you are over the age of 50, smoke cigarettes or have a high risk occupation, such as an emergency worker or airplane pilot, you may receive a higher health insurance individual quote than other members who do not have these risk factors.
Because a health insurance individual quote is based solely upon a single applicant's risk factors, a quote for a single applicant may be higher than a quote for group cover. With group coverage, the insurer's risk is spread out among a number of members. Whilst each member will pay premiums for coverage, not every member will make claims. With a health insurance individual quote, rates must be determined based upon the likelihood that one person will make a claim.
Underwriting for Individual Policies
Insurers may underwrite a policy in one of two ways. With moratorium underwriting, the individual applicant is not required to provide any details about his or her history. However, any condition that he or she has received treatment for within a specified period of time, often 5 years, will not be covered. Eventually, the member may become eligible for coverage for this condition if no signs or symptoms have presented themselves for one or more years.
With medical underwriting, the applicant must give details about his or her history, including specific conditions that he or she has been treated for in the past. Whilst no exam is generally required, an underwriter may contact your doctor for copies of records or confirmation of your physical condition. Each aspect of your application will be considered separately to determine your rates, and you may not be covered for pre existing conditions until you have paid premiums for a certain amount of time.
Options for Individual Medical Plans
A health insurance individual quote may reflect several levels of care. The most basic packages for individuals include standard benefits, such as outpatient procedures, specialist consultations, diagnostic tests and hospital treatment. Radiotherapy and chemotherapy for cancer may be included in a basic package. A 24 hour helpline is available with most plans to give members access to professional clinical advice at all hours of the day or night.
A quote for a more comprehensive policy will include benefits for a more extensive set of services. With comprehensive cover, you may have access to services like complementary medicine, physiotherapy, private hospital rooms, psychiatric care or dental services. In addition to these treatment options, you would receive the standard benefits of a basic package, namely prompt access to specialists, faster diagnostic tests and outpatient services and a wider range of treatment options at private hospitals.
If you are generally in good health, require little or no treatment and are concerned about saving money, a high excess health insurance individual quote may suit your needs. With a high excess, or shared risk, plan, a member assumes a higher level of financial responsibility for specific treatments in exchange for lower monthly premiums. If you require little or no medical care within a policy period, your out of pocket expenses may be quite low. However, if you require extensive care for a sudden illness or injury, you will have the cover you need.
A health insurance individual quote can be the start of your search for more extensive medical care. Compare quotes from several of the leading providers before you make this important decision. Your choice of plans may affect your level of physical wellness in the years to come, so it's worth the time to evaluate several options before you decide.
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