Private Health Insurance in retirement

Private Health Insurance in Retirement

The cost of Private Health Insurance can be a big shock when you retire, even when you are offered a continuation by your organisation’s Health Insurance provider.

In order to maintain Private Health Insurance cover for a manageable cost we are introducing independent specialist private medical insurance intermediaries, Halcyon HealthCare Ltd. See what they say below about innovative health insurance policies from leading health insurance providers that are of special interest to those who keep active in retirement.

Lifestyle Policy - The more you exercise the more you could save

One leading insurer provides individual and family policies that encourage members to exercise to stay healthy and rewards them with reduced premiums and discounted health checks, spa visits, gym fees and other benefits.

For example you can score points by using a high-tech pedometer to record the steps you take when walking, playing golf, jogging or other regular activities. Together with other healthy lifestyle activities you can earn points which can reduce your next year’s premiums by up to 25% of the premiums paid in the previous year. Up to 35% no claims discounts can also apply.

This type of policy not only rewards a healthy lifestyle but encourages and assists you to exercise to help you stay healthy.

This type of policy not only rewards a healthy lifestyle but encourages and assists you to exercise to help you stay healthy.

Many pre-existing conditions, with the notable exceptions of heart and cancer conditions, may also be covered after two years membership of the healthy lifestyle policy if the policy is purchased before the age of 66.

Independent Private Health Insurance specialists

A comparative cost illustration costs you nothing

The above lifestyle based policy is just one of a wide range of policies to choose from, to meet your budget and your particular health insurance needs.

If you currently benefit from a company private medical health insurance scheme then you need to consider how to maintain that valuable benefit in retirement and for the lifestyle policy, act before the age of 66.

If possible, it is very important to maintain continuity of cover for medical conditions that have occurred while covered by a company scheme, but the offer of a ‘Continuation Option’ may not be on terms as beneficial as your company plan and after an initial payment holiday, your premiums will most probably rise, often by a significant amount. As long as continuity of cover is maintained, alternative insurers’ ‘switch terms’ may prove more cost effective in the long-term.

If you already have a private health insurance scheme placed directly with an insurer, you are most probably paying the same premium as you would pay through an intermediary without receiving the benefit of an independent market appraisal. As well as providing initial alternatives, as an independent intermediary we at Halcyon Healthcare can provide an annual appraisal of your policy in comparison with new policies being introduced at no additional cost.

Ask us about details of policies that:

• encourage people to stay healthy and reward them for doing so
• have lower cost, but still guarantee prompt treatment
• help with quitting smoking and provide stress counselling
• may cover pre-existing conditions after 2 years membership
• have very competitive rates for former employees or close relatives of former employees of the public services, the NHS and education

A comparative cost illustration will cost you nothing! Simply click on the link in the box and fill out the attached enquiry form for Halcyon Healthcare. 

Halcyon Healthcare Limited is a member of the British Insurance Brokers Association and the Association of Medical Insurance Intermediaries

Halcyon Healthcare Ltd is Authorised and Regulated by the Financial Services Authority.

Visit our Pre-retirement Courses section here on laterlife or our dedicated Retirement Courses site