Is it worth having private health insurance

janiebquick

If you are both in good health, I would go for the 'pay it yourself' option. If you do need treatment, private hospitals will offer you a good deal on any treatment you need.

Lancastrian6

Not an easy call to make - yes we are in relatively good health but we could be hit with the unexpected at any time.
The time to build up a fund to self insure may have passed us by - if we had taken that route 10 or more years ago we would have built up quite a fund - we do have some savings but they would be swallowed up if we hit big problems before we have built up a fund if we start now - only we can decide how to play it - still got until 12th a May to decide

System

Insurance is in case of events that are rare but would be financially devastating if one happened. The premium reflects the likelihood of the event occuring.

If you are planning on getting older then it is quite likely that health insurance premiums will increase.
Is it worthwhile? It depends how much you value the benefits compared with the premiums, and whether you can afford them. In a country where you need insurance before the ambulance will pick you up, probably it is a good idea. But in Britain?

Lancastrian6

Tough call to make but today was decision day so we decided to self fund and have cancelled BUPA and put the premium we would have paid into a separate bank account - we have other savings if needs be - only time will tell whether we made the right decision.
Thank you to all who have contributed with advice - much appreciated.