Key Financial Associates

What is Private Medical Insurance (PMI)

The Association of British Insurers defines PMI as insurance "designed to cover the costs of private medical treatment for what are commonly known as acute conditions" - i.e., diseases, illnesses and injuries which are likely to respond to treatment. One of the reasons why people establish PMI is the desire to be treated promptly, rather than having to take the risk of waiting for tests or treatment.

The scope of cover differs policy by policy, but most PMI policies will usually cover (subject to certain limits) the following:

  • Treatment of short-term, acute medical conditions
  • Out-patient consultations and tests
  • In-patient or day-patient surgery
  • Hospital accommodation and nursing

A number of health insurance providers allow consumers to select the particular areas of cover they want. Some policies offer unrestricted cover in terms of treatment and cost, cover for certain conditions only, general family cover, elderly cover, overseas treatment and cover for self-employed people. Other schemes provide benefits only if there is an NHS waiting list of six weeks or more for treatment, or specifically exclude out-patient treatments and tests. Policyholders may have an unrestricted choice of hospitals or not, or may be required to pay a policy excess. Preventative treatment, GP and nurse helplines, health screening, general fitness and health advice can also be included in the scope of cover.

Applications for PMI are accepted as follows:

Moratorium method

The applicant does not have to provide details of their medical history but the insurer will not pay for treatment of any medical or related condition that the applicant had prior to applying for cover.

Full medical history underwriting method

The applicant provides complete details of their medical history. The insurer then reviews those details and if necessary contacts the applicant's GP for more information: the insurer may also request that the applicant undergoes a medical examination. Once the insurer has the information they need, the applicant is quoted a premium and given details of the cover, which may or may not include cover for existing or recent conditions.

Apart from their state of health, other factors which are likely to determine the premium are the applicant's age, the grade of hospital accommodation required and the level and type of cover chosen. Premiums are likely to rise each year i) because of inflation and ii) as the policyholder ages he or she is more likely to require medical treatment.

For UKBA applications requiring "Comprehensive Sickness Insurance" we are happy to provide advice to find a suitable policy to fit your criteria.


Key Financial Associates Ltd act as a credit broker not a lender.

01925 596143
How much can I pay?
Mortgage Calculator
How much can I borrow?
Mortgage Calculator


Why choose Key Financial Associates?

Our clients choose to trust us over the competition because of the way we conduct our business.

We provide our services to suit you, whether face to face, telephone or email
We search to ensure we find the right mortgage for you
We continue to monitor the market place and will keep you updated on opportunities
information of company feature

Call us on 01925 596143  to speak to one of our advisors today.


Some of the products/services shown above are not or may not be regulated by the Financial Conduct Authority


Key Financial Associates Ltd is an Appointed Representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales number 6574873

An administration fee of £100 at application and up to £295 fee depending on pre-agreed fee amount payable on completion. A typical fee would be £195.

Key Financial Associates Ltd act as a credit broker not a lender for Buildings and contents insurance.

Some of the products/services shown above are not or may not be regulated by the Financial Conduct Authority