Consumers vastly underestimate the cost of medical treatment, new research by Standard Life Healthcare has revealed.
Six out of ten people surveyed underestimated the cost of a heart operation, with just three in ten getting the cost of an MRI scan right.
Managing director Mike Hall said: "With more people choosing to self-fund treatment, there is a need for a mixture of self-pay, NHS treatment and private medical insurance (PMI)."
He said people realised the NHS could not provide free treatment for all conditions, but were unprepared for the cost of paying for their own treatments without PMI cover.
Hall added: "The survey showed that an excess option proved to be a popular method of keeping premiums affordable."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
