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It is time to look at cut price health insurance?

As more and more health insurance policyholders learn of increasing premiums this year there is a feeling that the sector could go quiet in the short to medium term. However, while many in the UK are struggling to survive on a day-to-day basis there are significant concerns that health insurance could be a short-term victim of ever tighter budgets. But is there an alternative?

Even though we have seen health insurance premiums increase by around 10% for many insurance policies in the UK we are also seeing cut-price deals announced by Standard Life and Tesco for example. These particular schemes, without giving any investment advice at all, allow customers to pick and choose the areas of insurance cover they require which they can match to their budget. This also gives the opportunity to increase health insurance cover as and when personal finances recover and the future looks a little brighter.

For many people health insurance is a necessity not an option but for those on the borderline it is maybe something which they are looking to ditch in the short term. Whether this is the right move remains to be seen but there are significant risks to your family and income if anything were to happen to you.

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