The Association of Medical Insurance Intermediaries (AMII) is to hold a session at its annual Conference on 17 June dedicated to highlighting the opportunity private medical insurance (PMI) can offer independent financial advisers (IFAs) to create a valuable additional revenue stream for their business, either by advising direct or through referrals to specialist healthcare intermediaries.
Recent Association of British Industry (ABI) statistics show that in 2008 the number of people covered by PMI continued to rise despite the UK economy going into recession. Now 7,335,000 people have some form of private health cover in the UK, an increase of 2.7% on 2007, with a significant increase of over 5% in the valuable corporate, small-to-medium-sized enterprise (SME) sector of the market.
The session will be presented by AMII General Secretary, Michael Payne, who will give a background to PMI, the size of the market, how PMI fits in with the NHS, how people use the policies to gain access to independent treatment, the types of underwriting available for pre-existing conditions, and a general introduction to what is normally covered and excluded under standard medical insurance contracts.
Further information see 2009 AMII Exhibition and Conference