Private Medical Insurance on the up despite the downturn

10 May 2009 Tell a Friend

According to the Association of British Insurers (ABI) in April 2009, the number of people with some form of private medical insurance in 2008 exceeded 7.3million, an increase of 2.7% on the previous year. 

This comprises people who have health cover through their employers, those who have individual or family policies and those with Healthcare Trust arrangements.

These figures are indicative of the fact that as a nation we are living through a time of uncertainty. Far from insurance being seen as a luxury, insuring against illness or injury seems like a prudent decision when the rising costs of healthcare and long NHS waiting lists for treatment are taken into consideration.

Nick Starling, the Director of General Insurance at the ABI said ?PMI is good for companies and good for the economy because it enables employees to get back to work as quickly as possible.  This is why there has been a continued rise in the number of people covered by corporate policies?.  Indeed employers are increasingly realising that by investing in the health and wellbeing of their employees, they are reducing absenteeism and ensuring their workforce is generally happier.