Adding PMI to your business
Want to sell Private Medical Insurance (PMI) more often? Refresh your memory about PMI, share these pages with your colleagues and start selling more PMI today.
Brush up on Private Medical Insurance (PMI) as a product to offer individual and business clients. Find out why we think you should include PMI in your portfolio; download letter templates, and read facts that may prompt you to talk more about PMI in your next client meeting.
- Refresh your memory - PMI – what is it, why should advisers be talking about PMI today?
- Get to know our products - Read about our individual healthcare products in detail
For further assistance, our field-based sales support team is available to visit you on-site for information and training about PMI.
To find out more about adding PMI to your portfolio, call our Healthcare Sales Bureau on 0800 092 9878 - available 9.00am-5.00pm, Monday-Friday. (Calls to and from Aviva may be monitored and/or recorded). Alternatively, you can email us: IHDT@aviva.co.uk.
PMI. Refresh your memory.
Private Medical Insurance
You may not have sold Private Medical Insurance (PMI) recently, but PMI sits naturally alongside most other financial products. PMI is a policy with benefits that can appeal to almost everyone.
On these pages you’ll find a brief overview of PMI as a product; what we think are some excellent reasons to include PMI in your portfolio; letter templates that can be used with your clients; and conversation starters and facts about PMI that may prompt you to talk about this product in your next client meeting.
What is Private Medical Insurance?
In brief, a PMI policy can help clients get access to prompt private medical treatment for eligible conditions. Most PMI policies highlight comfort, convenience and greatly reduced waiting times as being key benefits. We explain the features and benefits of our PMI products in more detail throughout this site; you’ll also find client-facing product information and literature in our Document Library.
As a policy, PMI can be taken out either by individuals themselves (if over the age of 18), or by a business that wants to offer it as a benefit to its employees. The PMI policy we offer to individuals is called Healthier Solutions; our main PMI policies for businesses are called Solutions (for companies with up to 249 employees), Optimum (for larger workforces with 250+ employees) and Guidewell, our private medical insurance product that uses an open referral claims pathway (also for companies with 250+ employees). If you want to find out about adding International PMI to your portfolio visit our International Solutions area.
- Why include PMI in your portfolio?
A policy for almost everyone
PMI is a product that’s pertinent no matter what your clients’ age, employment status, family circumstances or financial situation is. It’s true that clients’ life stages influence their budget and needs: they could be individuals with a young family; still working but living as empty nester or even enjoying life as retirees – but everyone needs to look after their health. This is also true of all types of businesses; absenteeism can really hurt the bottom line, so many companies will be interested in the benefits that PMI can provide. There are also many non-financial benefits for a company to provide their employees with PMI.
From comprehensive cover in a network of private facilities to cover that caters for simple diagnostic procedures, many types of policy are referred to as being ‘PMI’. At Aviva, we offer a wide range of PMI policies with the flexibility to not only meet individuals’ basic treatment needs, but also provide additional optional benefits – depending on what clients want and can afford.
A product that’s supported by clinical expertise
In contrast to many other financial products, which rely on fluctuating economic markets to deliver a potential return, the ‘success’ of a PMI policy depends on both the provider’s ability to meet the cost of a claim and the ability of medical professionals to provide support or care to an individual in need. Aviva’s approach to private medical insurance is straightforward: we believe that by using our in-house clinical expertise, we can offer policies that assure clients of getting the right treatment, at the right time.
A group of benefits that are easy to sell
Good health is something to which we all aspire. Our healthcare policies offer benefits that can help people stay healthy and look after themselves. One of the main reasons for buying PMI may be to find reassurance about prompt treatment; helping someone return to work more quickly, perhaps, than may be possible through NHS waiting lists. However, our policies’ additional benefits range from discounts at UK gyms to 24-hour medical helplines, which, for example could make a big difference to parents with small children.
- Would PMI be appropriate for your clients?
Everyone wants high quality care
In a less than desirable economic climate over the last couple of years, the future of the NHS has had a great deal of coverage in the media. Cutbacks could be ahead, with increased waiting times being a likely side effect of greater pressure on the NHS to deliver the same levels of service, with fewer resources to hand.
This is important, because one of PMI’s most valuable benefits is the prompt access it can offer to medical professionals for non-emergency care and treatment – something that most people want, if they’re ill.
Benefits with tangible values
While not everyone will want to or be in a position to allocate part of their income to a PMI policy, many people see the premiums as a worthwhile investment in that peace of mind. In addition, our PMI policies offer benefits that add tangible value to the cover – things like discounts, helplines and access to services that would otherwise be more expensive.
We explore ‘Who buys PMI?’ in more depth on the product pages we’ve created to give you details about: Healthier Solutions (our private medical insurance product for individuals), Solutions (for companies with up to 249 employees), Optimum (for larger workforces with 250+ employees) and Guidewell, our private medical insurance product that uses an open referral claims pathway (also for companies with 250+ employees).
- How does PMI work?
We help people get the right treatment, at the right time. That’s it.
In exchange for a premium – which is calculated using health factors to establish levels of risk – our PMI policies offer eligible access to prompt, appropriate medical care.
Working out those levels of risk involves underwriting the individual, or individuals, by looking at known factors about their health. Someone with a history of heart failure and diabetes in their family, for example, may be asked to pay higher premiums than someone without those conditions. Most providers reserve the right to exclude existing medical conditions from the cover – so someone with a history of arthritic pain may not be able to claim for an arthritis-related incident – and many providers will allow some pre-existing conditions in exchange for a higher premium, providing full details are provided from the outset.
However, once the policy is in place – there’s usually little or no input required from you on an ongoing basis. If your client needs to make a claim, we have teams who will help them get the treatment they need – often without submitting any paperwork at all.
- Are PMI policies time-consuming to submit?
We try to keep paperwork to a minimum
You’re busy, we realise that. Along with the paperwork you’d expect to submit to any provider (personal details, etc), and depending on the type of underwriting that applies, most of your individual clients will have to complete a medical questionnaire. This is something they can do in their own time, and may be more comfortable doing in private. However, most, if not all, large corporate PMI schemes won’t need paperwork from employees, as schemes are likely to be underwritten on a medical history disregarded basis.
However, from submission to a policy going ‘live’ takes relatively little time – and we do everything we can to not only keep the administration to a minimum, but also let you know about the policy’s progress. Our Healthcare Bureau team are on stand-by from 9am to 5pm, Monday to Friday. They’re supported by clinical experts – dedicated to helping you answer clients’ questions, exploring the potential of healthcare policies to help you grow your PMI business, and helping you submit that business quickly and easily.
- PMI – is it the same for individuals and businesses?
High quality care for everyone
For individuals, the clear benefit of a private medical insurance policy is the prompt access to medical treatment, usually at a time and place that suits them. For employees however, the net effect of that prompt access is likely to be a faster return to work – which could make a world of difference to both the individual’s private life, and the business-owner’s commercial success.
In a competitive business environment though, many employees now find themselves ideally placed to make a conscious choice about which company will be their next employer – rather than simply accept a role if it becomes available. While there are obviously many contributing factors to such a decision, the added value being offered has a role to play: the company’s benefit package can become part of the decision process. That’s why we believe a good benefits package can help attract and retain employees, which makes PMI a natural product to offer alongside general business insurance policies.
- What about cover for clients working overseas?
Care, wherever your clients may be
PMI is often associated with the NHS: it’s perceived as being a way to get faster treatment, here in the UK, without being affected by waiting lists. But PMI is a policy that can offer reassurance to your clients – individuals or businesses – wherever they are.
In the form of International PMI, our policies draw on strategic collaborations with medical experts in countries around the world. We offer additional services, such as English-speaking medical helplines that are accessible worldwide, evacuation if medically necessary, and discounts to networks of dentists and pharmacies in the USA. For companies in particular, our International PMI policies can help maintain a strong relationship between employees and their employers – helping to underpin the concern being taken for their welfare while working overseas.
Read more about our International PMI product on the International Solutions pages.
Want to find out more about Aviva’s PMI products?
We can all become ill; we could all suffer illness or injury; so private medical insurance is a product that offers tangible benefits to almost everyone. Don’t forget, elsewhere on the HealthcareZone, you’ll find details about healthcare policies for individuals and for businesses – and a complete Document Library, containing literature about all of our PMI policies.
If you’d like to talk about adding PMI to your portfolio on a regular basis, and would like to learn more about the product or our policies in general, contact us now. Think of us as part of your team. We’re here to help you learn about and introduce wellness, and healthcare products to your clients.
Letters, facts and conversation starters
Download our letter templates, use these conversation starters and brush up on PMI facts that could help you re-introduce PMI to your portfolio more often.
- Letter templates
We have created a set of letter templates that you can use as a basis for contact letters for your client base. These are split into individual and company customers.
We have focused these on warm leads, where PMI has already been discussed in the past, cold leads where PMI hasn't been discussed and renewal leads, where your current clients have other insurance that is coming up for renewal.
The letters have been loaded in Word format so you can add the relevant details needed to send out to your clients. If you have any questions about these, please contact your usual Aviva sales consultant.
Individual client letters
Company client letters
Please note – before using any of our suggestions here, it is important to remember to make sure that it is correct and suitable for your audience, together with ensuring that it meets regulatory requirements. We may not be able to offer cover in certain circumstances – please refer to the Terms and Conditions for our Healthier Solutions, Solutions and Optimum products.
- PMI facts and figures
Whether you’re creating a direct mail campaign, talking over the phone, or conducting a fact find – these simple facts about healthcare in general may help you introduce PMI to the conversation.
Interested in adding PMI to your product portfolio?
Call the Healthcare Sales Bureau on:
0800 092 9878
Calls to and from Aviva may be monitored and/or recorded.