Health insurance and life insurance are two very different insurance products, even though they sound similar. Health insurance, also known as private medical insurance, covers the costs of private medical treatment outside the NHS system. Many people choose to buy health insurance because it allows them to access treatment for short-term illnesses and injuries more promptly than if they relied solely on NHS care.

Health insurance allows you to choose such things as when treatment takes place, which specialist will perform the treatments, and which hospital to use. Often it covers extras such as an en-suite room with benefits like television and Wi-Fi. Some problems are not covered by health insurance, and it is not designed to replace all NHS services.

Life insurance is a policy taken out on a particular person, and it pays out a cash benefit if that person dies. Many young families purchase life insurance to provide financial security should the primary breadwinner die. It is also common to purchase life insurance on a partner who stays home to raise children and run the household, because replacing those services would be quite expensive if that person were to die.

Though most people feel they don’t need a large life insurance policy once their children are grown, many older people purchase smaller policies to help with finances after their death. It is very easy to compare life insurance online for any size policy.