"Hefty no claims discounts on health insurance premiums may look attractive but could cost you dearly both in terms of your health and your pocket," warns Fiona Harris, of Bupa.
"Discounted prices may look good on paper but, don't feel so great when you are penalised for needing treatment. A big no claims discount means a hike in premiums following a claim. Encouraging you to wait rather than sort out a health problem immediately, could become a major cost issue - and, more importantly, a life-threatening one. Managing your health is about seeking early diagnosis, not avoiding making a claim. Finding out what is wrong with you as quickly as possible can make a big difference to your recovery and long-term health. With health insurance, you need to really understand what you are buying and what will happen when you claim. Offers such as 20%, 30% or even 50% discounts off initial premiums will come back to bite you when you make a claim with hefty increases in premiums," says Fiona Harris.