Time to Look at Your Health Insurance? Why Reviewing Your Options Could Be a Valuable Step

Why Could It Be Important to Regularly Review Your Health Insurance?

Your health insurance can offer valuable support when you or your family might need medical treatment. However, it’s not always a ‘set it and forget it’ product. Your circumstances can change:

• Perhaps your family has grown.
• Your budget might look different.
• Your healthcare priorities may have shifted since you last considered your cover.

Regularly reviewing your health insurance, especially around renewal time, might provide an opportunity to:

• Assess if your current cover (no matter who it’s with) still seems to align with your family’s potential needs.
• Clearly understand the costs and the benefits of your existing policy.
• Explore whether other options available on the market might offer something more suited to your present situation.

What Potential Benefits Could Come From Exploring Your Health Insurance Options?

Taking the time to explore your health insurance options – whether that’s looking at your renewal offer, considering switching providers, or finding your first policy – might present several advantages.

• Finding Cover That May Better Suit Your Needs: Your family’s healthcare needs don’t usually stand still. Perhaps your current plan was once sufficient, but now you’re considering more comprehensive options, or vice versa. Reviewing allows you to compare different policies. This could involve looking at various cover elements, benefits, and costs.
• Potential for Cost Management: The premiums for health insurance policies can vary between insurers and can change over time. By comparing your current policy’s renewal terms with other quotes available, you might identify an option that fits your budget more comfortably, while still providing a level of cover that is appropriate for your family’s perceived needs. Typically, it’s about finding a balance that aligns with your specified budget and required level of cover.
• Access to Different Policy Features or Support: Insurers often update their policies, and new features or support services can become available. When you review the market, you can look for policies that might include benefits like virtual GP access, mental health support, or wellbeing programmes that could be valuable to you and your family.
• The Benefits of an Informed Decision: By reviewing your policy details and comparing your options, you can make a choice based on clear information. Having a plan in place that you understand can contribute to your financial planning and help you prepare for your family’s future healthcare needs.

How Might Your Family’s Healthcare Needs Have Evolved?

It can be worth reflecting on what might have changed since you last looked at health insurance:

• Family Structure: Have there been new additions to your family, or have children grown older, perhaps changing the type of cover you might consider?
• Health Priorities: Are there specific health concerns or wellbeing aspects that are more of a focus for you now?
• Financial Situation: Has your budget changed, influencing what you feel is an appropriate amount to allocate towards health insurance premiums?

Considering these points can help you clarify what you’re looking for when you explore the health insurance market.

How Can Polly Help You Review Your Health Insurance Options?

Navigating the health insurance market can sometimes feel a bit overwhelming. That’s where Polly can help. As an insurance broker, Polly works with a panel of different insurers. This means we can help you:

• Understand Your Needs: We can discuss your current situation and what you’re looking for in a health insurance policy.
• Compare Policies: We can help you compare options from various providers, looking at cover elements, benefits, and costs.
• Make an Informed Choice: Our aim is to provide you with clear information so you can choose a policy that is suitable for your family’s stated needs.

Whether you’re reviewing an existing policy you have with another provider, thinking about switching, or looking to take out health insurance for the first time, we’re here to help make the process clearer.

Considering Your Next Steps for Health Insurance

Regularly reviewing health insurance options could be a proactive step towards managing your family’s potential healthcare needs and looking after their financial wellbeing. It can be an opportunity to help ensure that any cover you have, or decide to take out, continues to be suitable for your circumstances.

At Polly, we’re committed to helping you understand your choices. Our aim is to provide the information you need to help you protect what matters most.