We assume the family is interested in cover for hospitals in and around the Bristol area. Mr Parker ...
We assume the family is interested in cover for hospitals in and around the Bristol area. Mr Parker is self-employed and although he has an income protection policy, he cannot afford to be waiting for treatment of a condition that restricts his ability to work.
Similarly, if Mrs Parker were incapacitated, Mr Parker would have to pay for a nanny or look after the baby himself. We need to know when Mrs Parker last had treatment for her kidney stones to establish whether a fully underwritten or moratorium policy would be most suitable. If the condition is on-going, Clinicare or BUPA Heartbeat may provide cover, but at a loaded premium.
Ideally the family should consider comprehensive cover. Both BUPACare and WPA Flexible Health offer discounted premiums for the self-employed, but premiums increase on an age-related basis, eventually becoming expensive and possibly unaffordable.
If the family wants long-term cover, they should consider an age-capped policy, such as Healthcare 4 Life. The monthly premium for non-smokers on Plan 1 providing cover for both provincial and London hospitals is £119.61 with no age-related premium increases. The Norwich Union Medios Healthcare policy provincial band is £129.35, with one age-related increase when Mr and Mrs Parker both reach 40.
As the family are generally fit and healthy, apart from Mrs Parker's kidney stones which could be excluded from cover, they may want to consider an excess option to reduce premiums. Alternatively, they could consider a basic budget policy to cover inpatient and day-case treatment, paying for any required outpatient treatment themselves.
A cost-effective age-capped policy is provided by the Norwich Union Medios Optional policy, monthly premium £54.03, with options on cover for various elements of outpatient treatment at extra cost.
