For many people, private medical insurance has traditionally been seen as a luxury expense that only the wealthy can afford. However, the reality these days tells a different story; with NHS waiting lists becoming longer and longer for even the simplest of routine tests, it is no surprise that more and more people are turning to private health insurance.
BUPA, the UK private health insurance provider, recently reported an upsurge in profits, which they attribute to the increasing popularity in private health insurance. This could be down to the fact that NHS lists show no sign of shrinkage, but is just as likely down to the fact that prices for private medical insurance have dropped significantly. Furthermore, many providers have taken an extra step by introducing additional incentives into their insurance packages.
Perhaps the most common incentive offered is free gym membership for policyholders. While gyms are undoubtedly popular, they also come at a cost which many people find prohibitive; not only do you have to pay a joining fee you also have to pay a monthly membership cost to use the gym facilities. With many free gym memberships incentives, you might still have to pay a joining fee - perhaps at a reduced rate - but the cost of your membership is covered, although there may be some terms and conditions you need to adhere to!
For example, it is likely a condition of the incentive that you use the gym regularly - perhaps two or three times a week, otherwise your free membership will lapse. This means that to continue using the gym, you would have to rejoin and pay the full fees, which as a result could be less of an incentive for you to keep up your health and fitness regime if you have to pay for it!
But, using the gym regularly will not only keep your membership from expiring, it can also save you money in the future. Many health insurance policies offer rewards as you become fitter and healthier. For example, if you use your free gym membership more often than the minimum required amount, you might be eligible for a reduced premium on your medical insurance when it is time to renew. The logic is that the healthier you are, the less likely you are to claim on your policy.
But, while you can take advantage of free gym membership on the way to better health and fitness levels, it's not the only way to look after your health, or drive down the cost of private health insurance. If you are a smoker, for example, your premium would be higher than for a non-smoker so it makes sense to try and quit the weed. Chemists, GPs and support groups can all provide a wealth of help and advice should you want to stop smoking. In a similar vein cutting down on alcohol can also lead to a healthier lifestyle - as can watching your weight.
In an age where serious illness is all too common, even employers are getting in on the act by providing private health insurance as part of the remuneration package, although sadly these often don't come with free gym memberships. It does however serve to illustrate just how popular private health insurance has become in today's lifestyle.
|
