Individual Private Medical Insurance - is it worth it?
When it comes to Private Medical Insurance (PMI) for you as an individual, you might have asked yourself – is it worth it?
But perhaps the question should be – can you afford to not have it?
In the UK, we are fortunate to have the NHS. Since it was founded in July 1948, it has consistently provided healthcare to the UK population.1 While it continues to deliver quality care, the NHS has been through turbulent times in the last decade, resulting in a backlog of patients waiting for treatment which reaches into the millions.
Why people are asking this question now
As of April 2026, the NHS list of patients waiting for treatment stood at 7,218,231.2 Years of workforce pressures, combined with the lasting impact of the pandemic have left the health service facing an ever-growing backlog of patients. This shows up in a number of ways:
- Cancelled referrals and delayed procedures
- Patients stuck on lengthy treatment waiting lists
- Referrals refused altogether due to staff shortages
- People who have avoided seeing a GP, whether from infection concerns or simply not wanting to be a burden
It’s against this backdrop that personal Private Medical Insurance has moved from a “nice to have”, to something many individuals are seriously considering for the first time.
What is PMI?
Private Medical Insurance (PMI) is also known as ‘health insurance’. It covers the cost of medical bills at every stage – from diagnosis through to treatment. Depending on the type of cover you choose, individual Private Medical Insurance can be taken out at any age and for a wide range of illnesses, conditions, and accidents.
But with monthly premiums to weigh up against the NHS being free at the point of use, it’s a fair question to ask: is Private Medical Insurance worth it? For many people, the answer comes down to speed of access, choice, and peace of mind.
What does Private Medical Insurance actually provide?
Personal Private Medical Insurance can give you access to high standards of healthcare, which can be faster than the NHS. Just as importantly, comprehensive cover offers something that is hard to put a price on: peace of mind. Depending on your policy and provider, individual Private Medical Insurance can give you:
- Quicker referrals, consultations, and treatment.
- Access to certain pharmaceutical drugs and medications that may not be routinely available on the NHS – for example, some cancer treatments.
- Digital GP appointments with many insurers, helping you get support and referrals faster.
- The option to choose your own surgeon or specialist, with many providers.
- Direct access to physiotherapy and mental health professionals, without needing to go through a GP first.
Is PMI worth the cost?
There is no single answer that applies to everyone. It depends on your circumstances, your health priorities, and your budget. That said, here are the factors worth weighing up when deciding whether individual Private Medical Insurance is right for you.
If you value the following aspects around healthcare, you could greatly benefit from PMI:
- Speed – If waiting months for a consultation or procedure isn’t something you’re prepared to do; private cover can significantly shorten that timeline.
- Choice and control – Being able to choose your consultant, your hospital, and often your appointment times gives you a level of control the NHS can’t always offer.
- Access to a wider range of treatments – Some medications and therapies simply aren’t available on the NHS or are subject to strict eligibility criteria.
- Reassurance for the whole family – Many people take out personal Private Medical Insurance not because they’re currently unwell, but because they want faster access to diagnosis and treatment should something arise.
Health Insurance may be less of a priority if:
- You’re comfortable with NHS waiting times for your circumstances.
- Budget is the overriding factor and you’d rather direct funds elsewhere.
- You already have access to healthcare cover through an employer.
The honest answer for you, is that Private Medical Insurance is worth it when it’s matched to your actual needs – not a generic, one-size-fits-all policy. This is where getting the right advice makes all the difference.
Why choose a specialist insurance broker?
Comparison sites are built around price alone, which has advantages around simpler types of cover. However, when it comes to more complex coverage such as Private Medical Insurance, getting the help of an experienced healthcare insurance broker is strongly advised.
At Lloyd & Whyte, we take a different approach from comparison sites – one built on personalised service and expert advice tailored to your specific circumstances. When you arrange health insurance through us, we’re with you every step of the way, from finding the right level of cover through to support around making a claim.
How Lloyd & Whyte Community Broking can help arrange your PMI
Choosing the right personal Private Medical Insurance isn’t just about finding the cheapest premium – it’s about finding a policy that genuinely fits your life, your health priorities, and your budget. Lloyd & Whyte Community Broking’s dedicated PMI team has access to a wide panel of insurers, widening the ‘net’ when it comes to finding a policy to suit you and, if necessary, your family.
Local expertise, not a call centre
Lloyd & Whyte Community Broking comprises a network of local insurance brokers across the South West and South Wales. This means that rather than being passed between departments or handled by an anonymous call centre, you’ll work with a named adviser who takes the time to understand your circumstances properly.
Access without losing the personal touch
The Lloyd & Whyte Community Broking family benefits from being part of a larger partnership, offering a personalised service with large business backing. Clients can benefit from a wider range of insurance solutions which means you get the buying power and product access of a national broker, combined with the accountability of dealing with someone who knows your situation.
Guided every step of the way
Switching or arranging individual Private Medical Insurance can feel daunting. Comparing insurers, understanding exclusions, and working out what level of cover you actually need can be a complicated process. Client reviews reflect the kind of hands-on support this involves and can help you avoid underinsurance or paying too much for your coverage.
Value beyond the price tag
Our approach is built on the idea that it’s not only about a competitive price. We aim to add value with great service, risk management, and expert advice. For PMI specifically, that means advice on the right level of cover, help understanding underwriting options (moratorium vs. full medical underwriting, for example), and support if you ever need to make a claim.
Getting the right cover
Whether you’re weighing up individual Private Medical Insurance for the first time or reviewing an existing policy, the right advice can help you avoid paying for cover you don’t need, and make sure you’re properly protected where it matters most. Our advisers can talk you through your options with you, explain what’s included (and what isn’t), and help you find a policy that genuinely fits your circumstances.
Ready to find out if Private Medical Insurance is worth it for you?
Whether you’re weighing up individual Private Medical Insurance for the first time or reviewing an existing policy, the right advice can help you avoid paying for cover you don’t need, and make sure you’re properly protected where it matters most. Our advisers can talk you through your options with you, explain what’s included (and what isn’t), and help you find a policy that genuinely fits your circumstances.
As a member of amii (The Association of Medical Insurers and Intermediaries), Lloyd & Whyte Community Broking is committed to delivering trusted, professional and client-focused advice in line with the highest industry standards.
What Makes Us Different?
You’re a part of our virtuous circle of giving. This means when you take out a Group or Individual Private Medical Insurance policy with us, it enables us to give even more to our communities.
As part of the Benefact Group, we’ve given to local charities including Libraries Unlimited, Hands Up For Down’s, Musical memories Choir, and Foothold Cymru.
You’re a part of our virtuous circle of giving. This means when you take out a Group or Individual Private Medical Insurance policy with us, it enables us to give even more to our communities.
As part of the Benefact Group, we’ve given to local charities including Libraries Unlimited, Hands Up For Down’s, Musical memories Choir, and Foothold Cymru.
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