Consumers remain sceptical about the Government's plans for healthcare and the NHS, according to a s...
Consumers remain sceptical about the Government's plans for healthcare and the NHS, according to a survey from Legal & General (L&G).
The results of L&G's Consumer Intentions survey spell good news for both IFAs and providers as they highlight consumers' growing acceptance of private protection.
Private medical insurance (PMI) remains high on the agenda. At the moment, 12% of people in the UK have PMI, but the survey indicates that 34% would be very likely to consider purchasing PMI.
The need for a sustainable healthcare system was also shown in responses to the survey, with 62% of consumers willing to pay more tax in order to fund the NHS.
Andy Sampson, head of planning and research at L&G, said: 'The study shows an underlying concern from the public. Scepticism is moving into the public arena ' people want choice, but the Government is not in favour of PMI.'
As a result, Sampson believes there will be an uplift in the market over the next few years, but believes IFAs must target key clients.
He said: 'There is interest in PMI. More IFAs should be talking about healthcare and there are key target areas such as the over 45s and the self-employed. It is also a growing market for people starting a family or getting married.'
John Castagno, managing director, general insurance at L&G, said: 'Consumer views are shifting as they gain greater awareness of the benefits of private provision and the importance of having a choice in how they receive medical support and treatment. Consumer concerns over speed and quality of treatment are at the forefront of their minds.'
