If you are in the market for private health insurance, you may want to consider purchasing a policy through a health insurance broker. A  health insurance broker is a regulated advisor who can guide you through the health insurance buying process, from giving specialist advice to comparing the market and recommending the policy and provider best suited to you. In this article, we explain five different reasons why you should consider using a health insurance broker when purchasing a policy.

1. They are experts in the health insurance market

There are different types of brokers, some have access to a limited number of providers and can only give advice on those providers, others are unable to give advice, and there are others that have access to all the providers and are known as “whole of market” brokers. We would recommend using one of these.

Whole-of-market health insurance brokers have expert and specialised knowledge in the health insurance market and can offer you bespoke advice to enable you to make an informed decision on what provider and policy is best suited to you. They can break down industry-related jargon and terminology so you can thoroughly understand the product as well as answer any questions you may have about health insurance.

2. They offer unbiased health insurance advice

Whole-of-market health insurance brokers are usually independent advisors or firms that can access all the health insurance offers available on the market and arrange the most suitable deals for you. Given they are independent and impartial they would review the market for you based on your budget and protection requirements and offer you unbiased guidance when choosing the best policy to meet your needs.

They also serve as an intermediary between the customer and the provider, so often you won’t have to deal directly with the health insurance company to set a policy up because the broker will take care of everything on your behalf.

3. Their services are free to you

Some consumers may think that buying health insurance through a broker is more expensive, but this is not true. Health Insurance brokers are remunerated by way of commission from the provider that receives the business, this means that their services are typically offered at no extra cost, and you would receive free expert advice, market recommendations and ongoing support. It’s important to note that your premium will not be affected by the fact that you’re using a broker to arrange your policy.

4. Health insurance brokers are regulated firms

Health insurance brokers must be authorised and regulated by the Financial Conduct Authority). This is to ensure they are following the regulations that are put into place to protect you, so you can rest assured you are receiving trustworthy information. You can check if a broker is authorised with the FCA by checking the FCA register.

5. They can offer you support throughout the policy

A health insurance broker can support you beyond purchasing a policy. They can help you with advice and support throughout the lifetime of your plan regarding things such as policy changes, or advice and market reviews at renewal.

At renewal, the broker will review your policy against your needs and will make sure your policy still meets your needs, or they can look at other providers and other offers available and advise you whether you should renew your existing policy or look at switching to another provider.

If you go directly through an insurer, they will not be able to give you this level of bespoke advice and the help they can provide you with will be limited to their own products only.

Why use a health insurance broker instead of a comparison website?

Comparison sites can be a useful and quick way to see what policies are available from a range of providers. However, they are not always the best way to find your health insurance policy as they may not be as tailored to your specific needs and budget, and they can’t offer personalised advice. This could result in you choosing a provider and/or policy that is an unsuitable match.

On the other hand, a health insurance broker can offer free and in-depth support and advice. They will identify your specific requirements before approaching the health insurance market on your behalf.

So, should you go with a broker?

If you are looking for more tailored advice and support throughout your policy, then yes. Brokers stay with you throughout the time of your policy, and they can help you with policy details, policy changes and if required, moving you to another provider if it’s in your best interest to do so. For more information, get in touch today for a free, quick, and easy quote.

Click the quote button below

For a quick and free quote