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Group Private Medical Insurance

Group Private Medical Insurance

A Group Private Medical Insurance scheme can help you minimise the costs of sickness absence. It also helps your managers, particularly when it comes to handling employee sickness issues they might not be comfortable with, or even qualified to deal with.

As NHS waiting lists grow longer and the quality of its service is brought ever more into
public debate, private health care is becoming increasingly viewed as a necessity rather
than a luxury. Furthermore, speedy treatment in comfortable and private surroundings
is something most people can’t afford to pay for. Nowadays, it can be part of a standard
benefits package.

There are three types of Private Medical Insurance schemes: 
  • comprehensive
  • mid-range
  • budget plans.
There are two methods by which an insurance company can offer terms and these are
known as a ‘moratorium’ or ‘fully underwritten’ schemes:
  • With a moratorium scheme, your employees do not have to provide detailed medical information; however, pre-existing conditions are not covered under the plan, unless the employee has been symptom or treatment free for a period of between generally 3 to 5 years.
  • With underwritten schemes, your employees are asked a number of medical questions in order that the Insurer can decide whether it wishes to insure them for specific conditions and if the premium quoted is sufficient to cover the risks for which they are to be insured.
A policy excess is the amount of any claim, which you are responsible for. In addition to
the mandatory excess applied by your Insurer, it is possible to reduce your premium by
selecting a higher voluntary excess.

For more information please email jackie@jayfinancial.com or call 01283 761866. 

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Regulatory Statements

Jay Financial is authorised and regulated by the Financial Conduct Authority

FCA Firm Number: 450655

Telephone : 01283 761866

Proprietor: Jacqueline Fancourt

The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted to customers in the UK.

To visit the FCA consumer website - The Money Advice Service - please click here

To verify our status with the FCA, click here and key in our FCA number: 450655

Jay Financial is authorised and regulated by the Financial Conduct Authority
FCA Firm number 450655, Independent Financial Adviser, Jacqueline Fancourt