Private Health Insurance Is Still Popular, Life Insurance

Private Health Insurance Is Still Popular

Throughout the current economic crisis, the insurance sector has been struggling, with many people who are feeling the pinch choosing to cut back on many types of insurance.

The life insurance sector has really felt the effects of shrinking household budgets, as has the home contents insurance industry and the travel insurance business.

It seems that when struggling families look at their outgoings, insurance is one of the first things to go, seen as an unnecessary luxury which can easily be cut out.

What many are not thinking of when making this choice, is the long term effects. If the worst should happen, families will soon regret cutting out insurance.

However, despite all this woe for insurance in general, it seems that the health insurance industry is doing well during these difficult times.

For many, private medical insurance really feels like a necessity, with speedier access to healthcare services at the top of most users agendas.

The 49% of respondents believed hospital waiting times should be less than one month, while, 69% of people were concerned their health could deteriorate further if they went without medical attention for as long as 18 weeks.

Some other forms of insurance are much more intangible and are therefore easier to let go when money feels tight. However, people can more easily perceive the advantages of private medical insurance and may feel a stronger, more emotional pull towards these types of policies.

Others have been concerned by standards of cleanliness in hospitals, so have decided that in order to have access to a high standard of care they must take out private medical insurance.