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Healthcare Insurance Products (IF7)

Healthcare Insurance Products (IF7) provides knowledge and understanding of the fundamental principles and practices relating to healthcare insurance.

The default Enrolment option for this unit includes:

  • Latest version of the core learning content, in digital format only.
  • Additional revision aids.
  • Assessment entry.

**Click here for an important notice for international deliveries**

Healthcare Insurance Products (IF7) looks at private medical insurance (PMI) in the UK.

PMI provides benefits to around 10% of the UK's population and the relationship between private healthcare and the NHS can be complex.

PMI policies are underwritten by for-profit and not-for-profit organisations, while health trusts and self-funded schemes may provide customers with PMI-style benefits but use little or no insurance.

An understanding of healthcare outside the UK helps to put the NHS and PMI in context and we look at an overview of some of these major healthcare systems.

We will look at how policies are underwritten and administered, how risks are assessed and how claims paid. We explore how the market works, the distribution systems and the effects of law, tax and regulation on PMI.

PMI exists alongside other types of health insurance, such as health cash plans, dental insurance and capitation plans. We explore the differences between them and the potential overlaps they have with PMI.

Building a successful career in insurance

This course is relevant for anyone seeking to develop their knowledge and skills for a rewarding career in the insurance profession or in a support role. Healthcare Insurance Products (IF7) counts towards achieving the Certificate in Insurance. It may also count towards the Diploma in Insurance and the Advanced Diploma in Insurance.

Summary of learning outcomes 

  1. Understand the structure of the UK healthcare insurance market
  2. Understand the key features of healthcare provision in the UK and overseas
  3. Understand healthcare product types
  4. Understand the different roles and responsibilities of intermediaries and providers
  5. Understand risk assessment, rating and underwriting considerations
  6. Know how to apply the principles of risk assessment, rating and underwriting considerations to a given set of circumstances
  7. Understand the claims function
  8. Know how to apply the principles of the claims process to a given set of circumstances
  9. Understanding legal and regulatory considerations
  10. Know how to apply the principles contained within law and regulation to a given set of circumstances

Assessment

  • 2 hour exam
  • 100 multiple choice questions
  • 70% nominal pass mark
  • The 2020 pass rate for this unit was 76%

Study material - editions available

2021 edition (applicable to exams sat 01 Jan 21 to 31 Dec 2021)

2022 edition (applicable to exams sat 01 Jan 22 to 31 Dec 2022) **Availability - Digital & Printed - 29 Oct 21**