Consumers advised to shop around to save money

SUBSTANTIAL savings can be made on personal health insurance by shopping around and finding the most suitable plan for your personal needs, health insurance experts have advised.

This comes as VHI announced plans to increase their health insurance premium for average family customers by approximately €331 per annum, just days after a price increase of almost 15% by Quinn Healthcare came into effect.

According to Aongus Loughlin, head of healthcare and risk consulting at Towers Watson, many people do not realise that insurance providers have an array of products that often provide broadly similar levels of cover at different prices and that by undertaking some research consumers could save hundreds on their annual insurance cost.