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Public don&#39t know the true costs of private operations

Legal & General says more than two-thirds of people intend to pay for private healthcare directly rather than through an insurance policy but underestimate how much it will cost.

Consumer research from L&G shows that 70 per cent of people intend to pay for private healthcare on demand rather than through a PMI policy.

But the survey reveals serious underestimation of the cost of private treatment, with 57 per cent estimating the cost of a knee replacement operation at under £4,000 and 29 per cent saying they had no idea. Only 3 per cent assessed the cost correctly at £6,000.

The majority of people said they would pay for treatment from liquid assets, with 58 per cent expecting to pay from savings or current accounts, 17 per cent credit cards and 7 per cent family and friends.

Head of healthcare development Steve Bryan says: “It is extremely worrying that so many people who might want to use private healthcare have underestimated the cost of paying for treatment. Most people will not have thousands of pounds immediately available or a credit card that will stretch that far. We would strongly recommend anyone who might like to go private to consider a private healthcare policy to cover the costs.”


A consumer&#39s view

Another disaster is looming and, unless IFAs move fast to advise clients, they could be in trouble. Just at the worst possible time, investors are pouring into corporate bond unit trusts at nearly double the rate of five years ago.As any good adviser knows, you buy bonds – including corporate bonds and gilts – when […]

Life offices press for an end to LPI rule

Life offices are lobbying the Government for the relaxation of the requirement for defined-contribution pensioners to buy a limited price index annuity.Product providers argue that LPI annuities are poor value because the shortage of index-linked gilts means that the cost of providing the inflation protection exceeds the benefits.Figures from Standard Life show that a 60-year […]

UCB fixes buy-to-let

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Network jungle

The FSA is telling mortgage brokers not to rush into joining networks until they are confident they fully understand the new regulatory regime and their options.The warning comes as some IFAs voice their own concerns that the coming of N4 next October – when mortgage brokers must decide if they want to be directly authorised […]


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