Cheap medical insurance

Why the cheapest package may not be the best option

It's easy to get cheap medical insurance: shop around, plump for the most basic options and whack up the excess to get an ultra-low monthly payment. However, in the long term you may discover you've made an expensive mistake. As the saying goes, you get what you pay for.

We all want cheap medical insurance, but sometimes it's possible to cut one corner too many. By opting for the most basic package, choosing a high excess figure and ignoring any optional extras you can indeed pare your premiums to the bone, but if you fall ill you might wish you hadn't been so stingy.

Cheap medical insurance isn't always a bad thing, but it does depend on the corners you cut. For example, going for a hefty excess may reduce your premiums, but it also means you'll have to stump up money if you fall ill. That's fine if you've got lots of cash in the bank, but if you don't it's yet another worry when you are least equipped to deal with it.