rosa365
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What is the difference between cash plans and pmi?
- rosa365 asked 2 years ago in Insurance
- See all 2 answers | report abuse
zoewildsmith
answered 2 years ago
In simple terms, you have PMI to cover the big stuff incase you get really sick and you need to go in hospital or have tests etc. Hopefully you pay if for years, never get sick but when you do you'll be glad you had it
HCP on the other hand is about the day to day stuff you need to cover even when your well. Dentist bills, Opticians etc - with the added benefit of that if you do get sick, many HCP offer you a small amount of benefits in other areas like therapies (Physio, Osteopath etc) & Consultation benefit. The consultation benefit in a HCP can still be used to go private initially to see the consultant when you get sick, but once you run out of benefit you can be transfered back to the NHS to continue your treatment. The whole point is to help you reduce your waiting times to get seen in the first place and establish if there actually is something wrong.
Hope that helps!
P.S - The best option for Cash Plan is always if you get your company to buy it as an employee benefit - This will give you the best terms, Pre existing conditions covered, 100% refund up to set limits. Plans generally start from £1 per person / per week.
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HCP on the other hand is about the day to day stuff you need to cover even when your well. Dentist bills, Opticians etc - with the added benefit of that if you do get sick, many HCP offer you a small amount of benefits in other areas like therapies (Physio, Osteopath etc) & Consultation benefit. The consultation benefit in a HCP can still be used to go private initially to see the consultant when you get sick, but once you run out of benefit you can be transfered back to the NHS to continue your treatment. The whole point is to help you reduce your waiting times to get seen in the first place and establish if there actually is something wrong.
Hope that helps!
P.S - The best option for Cash Plan is always if you get your company to buy it as an employee benefit - This will give you the best terms, Pre existing conditions covered, 100% refund up to set limits. Plans generally start from £1 per person / per week.
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