Whilst it can be tempting to move to a cheaper insurer straight away, doing so without taking professional advice can sometimes have unintended consequences, particularly where ongoing treatment or investigations are involved. Recently, we worked with a couple who found themselves in exactly this position.

The Challenge

The couple were paying around £10,000 per year for their Private Health Insurance. Following recent claims, they expected their annual premium to increase to between £13,000 and £18,000 at renewal.

A review of the market quickly identified alternative policies that could reduce their premiums significantly. However, one member of the family was awaiting treatment and undergoing further medical investigations.

Changing insurers immediately could have affected how those existing medical conditions would be covered in the future.

Looking Beyond the Premium

Rather than focusing solely on the cheapest quote, Associate Director, Ali Adham, took the time to understand the family’s wider circumstances before making a recommendation.

A phased strategy was agreed.

The existing policy remained in place while treatment and investigations continued, ensuring continuity of cover when it mattered most. During this period, Castleacre also reviewed the existing arrangements to identify sensible ways of reducing costs, including tailoring optional benefits and reviewing the policy excess.

At the same time, the client’s spouse, who was eligible to move independently, transferred to a more competitive individual policy, while the client’s existing cover was restructured to better reflect his ongoing needs. Both changes formed equal parts of the overall strategy to reduce costs without compromising the continuity of cover.

Once treatment had progressed and the client’s medical position became clearer, a new long-term arrangement was successfully put in place.

The Outcome

Instead of facing a projected renewal premium of between £13,000 and £18,000, the family’s new long-term arrangements reduced their annual premium to just over £8,000.

More importantly, they were able to make the move without compromising the continuity of their healthcare cover during a particularly important period.

Why Independent Advice Matters

When it comes to Private Health Insurance, the lowest premium isn’t always the best outcome.

Medical history, ongoing treatment, underwriting, and future healthcare needs can all influence whether changing insurers is the right decision and, just as importantly, when to make that decision.

Taking advice before making any changes can help ensure your cover continues to meet your needs while also providing the best possible long-term value.