One of things about PMI that differentiates it from other types of insurance is that what it buys you is twofold: first, the peace of mind in knowing that if you require any treatmant that's covered by the policy you will have that treatment in good surroundings. Secondly, it also means being seen on a prompt basis - so there's the added peace of mind in knowing that there won't be the need to join any waiting lists.
Waiting lists of course coninue to make the headlines, and earlier this year it was reported that the number of patients waiting for treatment in England had climed to a five-year high of 2.9 million. However the number of very long waits was decreasing, with the amount of people waiting for over 18 weeks (5.5 months) down by 55,000 in three years.
During tough economic times, though, people may well scrimp and save where they can - and PMI has seen effects of the downturn and subsequent economic vicissitudes in the time since.
Of course, we're technically out of recession now. In fact it's been a non-recessionary UK since the third quarter of 2009 - according to the figures. But that doesn't of course mean thata boom time followed - and at one point it even looked like the country had gone back into recession - a double dip.
But even if we haven't been in a recession for the entire time since the start of the downturn, it definitely feels like a changed world much of the time.
The health insurance market will of course change over the coming years and decades - and with the ageing population (plus the resultant state healthcare resources this could use up) PMI will no doubt figure more and more as a must-have product.