Medical insurance

[grassisgreener1]

I hope someone can help me with this. My in laws asked me today to have a read of a letter they received from their private medical insurer. They are in their early 60's and being quoted almost
8 k a year. I am not from the UK but wondered if anyone could tell me if this is a normal amount to pay or are they being overcharged. They have been with this company for several years thank you

That probably is the going rate, with every milestone birthday the premiums also increase. Perhaps they could save the money and pay as they go? Most private ops are about £10k including hosp stays, anaesthetists etc, so unless they were planning on several operations, they might be better off self funding.

@Rina66 thank you it is more than my mortgage x

Me any my husband are 50 and our insurance is £2,600 per year.

How much have the premiums increased since last renewal?

Do they want to retain the insurance and can they afford it?

Pretty hard to know - there is a really big range of plans so costs depend on what's covered and for how much. Speaking as a 60 year old though, age is obviously a factor as it becomes more likely they'll have to pay out as we get older (on average). Mine is through work so is much cheaper but we may not be comparing like with like in terms of cover.

Sorry is that each or for both? Do they have any pre-existing conditions? Get quotes from AXA PPP, Bupa and Aviva also look at some smaller providers. If they have no PEMCs it looks high. Look at the options to reduce the premium. A useful one is to exclude anything the NHS can deal with within six weeks and the policy will also get cheaper if you take a large excess. This is your personal choice though.

They can afford it and would like to retain it. The quote is for them both.

They have increased by 13% since last year

@EinsteinaGogo could I ask which company you are with. Fee free not to answer x

It's via Saga, OP.

Definitely worth shopping around for comparables.

DH is 61, I am 57. I have pre-existing conditions. Out cover for the two of us and our DC (18 and 19) is £2700 annually with Vitality. We wanted to move last year but a broker couldn’t better our cover. Vitality are pretty rubbish on the customer service side and DS’s surgeon will no longer deal with them.

Thank you I'm going to help them shop round for a more reasonable price x