Thursday, June 28, 2007

Popularity of medical insurance increases

More people from the UK are opting for private medical insurance, a new study has found.

According to the Association of British Insurers (ABI), 2006 was the first year in recent times when the number of people opting for private medical insurance (PMI) increased.

ABI figures show that 1,030,000 people subscribed to PMI policies during 2006 - compared to 1,012,000 the year before.

This represents a 1.8 per cent increase and now personal and corporate PMI plans cover around 5.9 million UK adults and children.

"Private medical insurance offers people greater choice of treatment and other services for a wide range of medical conditions and injuries," explained Nick Starling, the ABI's director of general insurance and health.

"It also takes pressure off the NHS, so by buying PMI, people are effectively reducing the burden on Britain's hard-pressed health service.

"It is encouraging that more individuals are choosing to buy PMI for themselves and their families."

Mr Starling also pointed out that more companies seemed to be buying medical insurance for their workers.

Recently, another spokesperson for the ABI said that people who were obese were likely to find their medical and life insurance premiums increase.

"Lifestyle factors could have a bearing on the premium that you pay - and it's likely that different insurers will use different measures to determine lifestyle factors," Jonathan French, press officer for the ABI, explained.

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