If you are looking to take out a health insurance policy for your family, an insurance plan which pays out cash upon approval of inpatient claim could be just what you are looking for. They are one of the more affordable ways to provide extra security, and just like paying for any other type of medical cover, a cash plan policy allows you to pay simple monthly payments to your provider. The difference between the two occurs when a member of your family needs medical treatment. Instead of your insurance company paying the private company to carry out the care required, you are given money directly to supplement the cost of any medical help.

Cash plans overall are cheaper, with standard premiums that are not affected by your general health. This is because these policies do not require an assessment of your previous health, or a detailed physical examination unlike other private medical insurance policies.

Another difference between a cash plan policy and a regular health insurance policy is that the former gives much more freedom in choosing whether you wish to receive your medical care with a private health provider like BUPA, or simply help towards the cost of NHS treatment, such as buying prescription glasses. They prefer people to use their cover to pay for routine medical care and screenings which may help prevent illness occurring in the first place and to keep you in good general health. A private health insurance policy only gives you the option to receive your treatment in a private hospital in order to avoid NHS waiting lists, which could restrict your options, especially if you would prefer to stay in your normal medical routine.