Shareholder Protection Insurance Cover


BLOG: Why do you need private medical insurance?

Posted October 23, 2023

In the UK, private medical insurance holds significant importance for individuals seeking to secure their healthcare needs and maintain control over their well-being. Whilst the NHS provides essential healthcare services to the population, there are compelling reasons why private medical insurance is a valuable supplement.

Firstly, private medical insurance offers choice and flexibility. With the NHS, patients often have limited control over the timing and location of their treatments. In contrast, private insurance empowers individuals to choose their preferred healthcare providers, hospitals, and specialists. This flexibility can be crucial for those who want to receive treatment quickly or who require specific medical expertise not readily available through the NHS.

Timeliness is another critical factor. The NHS, despite its best efforts, sometimes faces long waiting times for non-urgent procedures and specialist consultations due to high demand. Private medical insurance allows policyholders to bypass these queues, ensuring timely access to medical care. For individuals facing health issues where time is of the essence, such as cancer treatments or surgeries, this can be life-saving.

Moreover, private healthcare often provides a higher standard of comfort and amenities. Private hospitals tend to offer more comfortable rooms, shorter hospital stays, and a more personalised approach to care. This can make a significant difference in the overall experience of patients and contribute to their recovery and well-being.

Private medical insurance also reduces the financial burden of medical expenses. In England, the NHS is funded through taxation, but some treatments, medications, and therapies are not covered. Private insurance can cover these gaps, preventing individuals from facing exorbitant out-of-pocket expenses during times of illness.

Furthermore, private healthcare can provide peace of mind. Knowing that you have insurance in place can alleviate the stress and uncertainty associated with health issues. It provides a safety net, ensuring that you can access the best possible care when you need it most.

At Watts Mortgage & Wealth Management, we are able to assist our clients in accessing a private medical insurance package that meets both their needs and budget. Often times, private medical insurance takes precedent as unlike other protection products, the plan is written with no medical questions asked and therefore can be accessed by those who have suffered from medical conditions historically, which may make accessing usual life insurance more difficult.

We also often assist companies in arranging private healthcare for their staff as a company benefit. A case study conducted by Vitality found that those employees who engaged with the Vitality programme actually performed better at their jobs, with productivity also increasing by 38%.* Offering healthcare to staff also results in quicker treatment and therefore quicker recovery. As opposed to waiting months, if not years on the NHS and having to take time off work and lose income, instead treatment can usually be concluded in a matter of weeks. This means, most importantly, people are able to return to work much quicker and continue with their usual quality of living, but also results in employers having a more productive and present workforce.

In conclusion, private medical insurance is not a replacement for the NHS but a valuable complement. It offers choice, timeliness, comfort, access to cutting-edge treatments, and financial security. While the NHS remains a cornerstone of the country’s healthcare system, private insurance plays a crucial role in enhancing healthcare options and ensuring that individuals can receive the care they need on their terms.

*Vitality. Shared Value in the Workplace. Available at: vitality-people-study.pdf. (Accessed October 2023)

If you would like to put private medical insurance in place or would like more information, please contact Katie Johnson on 07923 217 781 or email