Bupa vs The Exeter Large Provider vs Specialist Mutual
Choosing the right private medical insurance in the UK can feel like a daunting task. At WeCovr, an FCA-authorised broker that has helped arrange over 900,000 policies, we believe clarity is key. This guide cuts through the noise, comparing two of the market's most distinct players: Bupa and The Exeter.
We'll explore which provider offers better value for individuals and small families, breaking down their cover, costs, and unique philosophies. Our goal is to give you the confidence to make an informed decision for your health and finances.
Which offers better value for individuals and small families?
The question of "better value" isn't just about the lowest price; it's about the best possible outcome for your specific needs. The choice between Bupa and The Exeter is a classic "big brand vs. specialist" dilemma.
- Bupa represents the established, comprehensive, large-scale provider. It offers a vast network and a wide array of options, often seen as a byword for private healthcare in the UK.
- The Exeter, as a mutual society, operates on a different model. It is owned by its members (policyholders), not shareholders, and has a reputation for flexible underwriting and a member-centric approach.
For an individual or family, the right choice depends entirely on your priorities: Do you favour the security of a household name with extensive resources, or the tailored, flexible approach of a specialist mutual? This article will help you decide.
At a Glance: Bupa vs The Exeter
This table provides a high-level overview of the two providers, highlighting their core differences.
| Feature | Bupa | The Exeter | WeCovr Adviser Insight |
|---|---|---|---|
| Company Type | Private company limited by guarantee (re-invests profits) | Friendly Society (a mutual, owned by members) | The Exeter's mutual status means its primary duty is to its policyholders, which can influence its claims and service philosophy. |
| Market Position | One of the UK's "Big Three" PMI providers | Mid-sized specialist insurer | Bupa offers huge brand recognition and scale. The Exeter is a respected niche player, often favoured by brokers for complex cases. |
| Core Philosophy | Providing comprehensive health and wellbeing services at scale. | Protecting members' health and finances with flexible, personalised cover. | Bupa's focus is on a broad, all-encompassing service. The Exeter excels at finding solutions for non-standard applicants. |
| Ideal Customer | Individuals/families seeking a trusted brand with extensive options and a large hospital network. | Self-employed, older applicants, or those with some health history who need flexible underwriting. | We often find The Exeter to be a superior choice for clients over 50 or those with health conditions that other insurers might decline. |
Understanding the Providers: Who Are Bupa and The Exeter?
Before diving into policy specifics, it's crucial to understand the organisations themselves. Their history and structure shape the products they offer and the service you receive.
Bupa: The UK's Best-Known Health Insurance Giant
Bupa (the British United Provident Association) has been a dominant force in UK private healthcare since its formation in 1947. It was created with the aim of "preventing, relieving and curing sickness and ill-health of every kind."
As a company limited by guarantee, Bupa has no shareholders. Like a mutual, it reinvests its profits back into the business, funding better healthcare services, facilities, and technology.
Key Strengths of Bupa:
- Brand Trust: Bupa is arguably the most recognised private health insurance brand in the UK.
- Scale and Network: It operates its own clinics and has powerful negotiating power with a vast network of private hospitals.
- Comprehensive Options: Bupa offers a wide range of plans, from basic cover to fully comprehensive international policies.
- Digital Health: Strong investment in digital tools, including its own Digital GP service and health apps.
The Exeter: The Specialist Mutual Insurer
Founded in 1927, The Exeter is a Friendly Society. This legal structure means it is owned by and run for its members. This member-first ethos is at the heart of its operations. Any profits generated are used for the benefit of members, either through improved services, competitive premiums, or by bolstering the society's financial reserves.
The Exeter has carved out a strong reputation in the protection market, particularly for health insurance and income protection for clients who may not fit the standard mould.
Key Strengths of The Exeter:
- Member-Owned: Its decisions are driven by member interests, not shareholder returns, which can lead to a more empathetic claims process.
- Underwriting Flexibility: The Exeter is well-known among brokers for its willingness to consider applications from older individuals and those with some pre-existing medical conditions, often offering terms where others won't.
- Clear Product Design: Its "Health+" policy is designed to be straightforward and easy to understand.
- Strong Community Focus: As a mutual, there's a greater sense of community and long-term commitment to policyholders.
Core Cover Breakdown: What's Included as Standard?
All UK private medical insurance policies are built on a foundation of core cover. This is the non-negotiable part of the plan that covers the most expensive treatments.
Crucial Point: Standard UK private medical insurance is designed to cover acute conditions. An acute condition is a disease, illness, or injury that is likely to respond quickly to treatment and lead to a full recovery. It does not cover chronic conditions (illnesses that require long-term monitoring and management, like diabetes or asthma) or pre-existing conditions you have experienced symptoms of or sought advice for in the 5 years before your policy start date.
Here’s how Bupa's and The Exeter's core cover compares for their flagship individual plans.
| Core Benefit | Bupa By You (Comprehensive) | The Exeter Health+ | WeCovr Adviser Insight |
|---|---|---|---|
| In-patient & Day-patient | Covered in full | Covered in full | This is the foundation of any PMI policy, covering surgery and hospital stays. Both are excellent here. |
| Cancer Cover | Covered in full (with some limits on advanced treatments) | Covered in full (including palliative care and monitoring) | Both offer extensive cancer cover. The Exeter's inclusion of ongoing monitoring post-treatment is a strong feature. |
| Digital GP Service | Included (Bupa's own service) | Included (via Healthwise app) | A standard feature now, essential for getting quick medical advice and referrals. Both services are well-regarded. |
| Basic Mental Health | Included (support for conditions like stress, anxiety) | Included (up to 4 sessions of talking therapy via Healthwise) | Both provide good initial support. For more extensive mental health cover, you need to add an optional extra. |
As you can see, the core offering for major medical events is robust from both providers. The real differences emerge when you start to customise your policy.
Customising Your Policy: A Deep Dive into Optional Extras
To manage your premium and tailor the policy to your needs, you can add or remove optional extras. This is where you can see the different approaches of Bupa and The Exeter.
Out-patient Cover
This covers diagnostic tests, scans, and consultations that don't require a hospital bed. It's one of the most frequently used benefits and a key area of difference.
- Bupa: Typically offers a monetary limit for out-patient cover (e.g., £500, £750, £1,000, or unlimited). This gives you flexibility in how you use your benefit—you could have one expensive MRI or several cheaper consultations.
- The Exeter: Offers a choice. You can have a monetary limit similar to Bupa, or you can opt for a set number of specialist consultations and a separate monetary limit for diagnostics.
Client Scenario: Sarah needs an MRI scan (£800) and two follow-up consultations (£200 each).
- With a Bupa £1,000 limit, her MRI and one consultation would be covered. She'd pay for the second consultation herself.
- With The Exeter's option of unlimited diagnostics and 3 specialist consultations, everything would be covered. This highlights how different structures can deliver different value.
Therapies Cover
This includes treatments like physiotherapy, osteopathy, and chiropractic care.
- Bupa: Usually combines therapies within your chosen out-patient limit. If you have a £1,000 limit, your physio sessions will draw from that same pot.
- The Exeter: Offers therapies as a distinct add-on, often with its own separate limit. This prevents your therapy sessions from eating into your budget for specialist consultations or scans.
Mental Health Pathways
While both offer basic support, their enhanced mental health options differ.
- Bupa: Offers an extensive Mental Health add-on that covers a wide range of psychiatric treatments, both as an in-patient and out-patient.
- The Exeter: Provides enhanced mental health cover as part of its out-patient options, covering therapies and specialist consultations for mental health conditions.
An expert broker at WeCovr can help you navigate these subtle but important differences to ensure you have the right level of cover for your family's mental wellbeing.
The Financial Levers: Excess, Hospital Lists, and No Claims Discounts
These three elements are the primary tools you have to control your monthly premium.
1. Excess: Your Contribution to a Claim
The excess is the amount you agree to pay towards a claim in each policy year. A higher excess results in a lower premium.
| Provider | Range of Excess Options (per person, per year) |
|---|---|
| Bupa | £0, £100, £150, £200, £250, £500, £1,000 |
| The Exeter | £0, £100, £250, £500, £1,000, £2,500, £5,000 |
Insider Tip: The Exeter offers a very high £5,000 excess option. This is a fantastic cost-control tool for individuals or families who want a policy purely for major medical catastrophes, keeping their monthly costs very low while still having comprehensive cover in place for serious illness or injury.
2. Hospital Lists: Where You Can Be Treated
Insurers use tiered hospital lists to manage costs. The more exclusive the list (e.g., including expensive central London hospitals), the higher the premium.
- Bupa: Has several tiers of hospital lists. Its "Essential Access" list offers a significant discount by focusing on a select network. Its "Extended Choice" list includes most private hospitals, including many in London.
- The Exeter: Also uses a tiered list. A key difference is that The Exeter may be more flexible in allowing treatment at a non-listed hospital with prior agreement, reflecting their customer-service focus.
3. No Claims Discount (NCD)
Both providers reward you with a discount on your renewal premium for every year you don't make a claim.
- Bupa: Has a standard NCD scale, typically rising to around 70-75%. If you claim, your NCD level will step back by a few levels.
- The Exeter: Offers a similar scale but has a unique feature where you can choose to protect your NCD. For a small additional premium, you can make one claim without it affecting your discount level, offering valuable cost certainty.
Underwriting: The Most Critical Decision You'll Make
Underwriting is how an insurer assesses your medical history to decide what they will and will not cover. This is arguably the most important part of setting up a policy.
Remember: Conditions you've had in the 5 years before your policy starts are considered "pre-existing" and will be excluded, at least initially.
1. Moratorium Underwriting (The "Wait and See" Approach)
This is the most common type. The insurer doesn't ask for your full medical history upfront. Instead, any condition you've had in the 5 years before joining is automatically excluded. However, if you go for 2 continuous years on the policy without any symptoms, treatment, or advice for that condition, it may become eligible for cover.
- Best for: Younger, healthier individuals with a clean medical history.
2. Full Medical Underwriting (FMU) (The "Upfront" Approach)
You complete a detailed health questionnaire. The insurer reviews your medical history and tells you from day one exactly what is and isn't covered. There is no ambiguity.
- Best for: Anyone with previous health issues, as it provides certainty.
Bupa vs The Exeter: Underwriting Flexibility
This is where The Exeter truly shines and why it's a favourite among specialist brokers.
- Bupa's underwriting is robust and follows industry standards. It is clear and effective but can be rigid.
- The Exeter is renowned for its flexible and individual approach. Their underwriters will often take the time to understand a specific medical condition and may offer cover where other insurers would apply a standard exclusion. For example, they might be willing to cover a historic joint injury or a minor skin condition after assessing the case individually.
Broker Insight: We frequently approach The Exeter for clients who have been declined or had broad exclusions placed on their policy by larger insurers. The Exeter's willingness to look at the person, not just the condition, is a major source of value. This is a process best navigated by an expert adviser from WeCovr.
Real-World Scenarios: How Do They Compare on Price?
Premiums are highly personalised, based on age, location, chosen cover, and medical history. The following table provides illustrative monthly premium ranges for mid-tier cover to demonstrate potential costs.
Disclaimer: These are estimates for 2026 and not a formal quote.
| Scenario | Bupa (Illustrative Monthly Premium) | The Exeter (Illustrative Monthly Premium) | Key Considerations |
|---|---|---|---|
| 35-year-old individual (non-smoker, living in Manchester, £250 excess, mid-tier out-patient) | £65 - £85 | £60 - £80 | Prices are often competitive. The Exeter can be slightly cheaper, especially with a higher excess. |
| Family of 4 (Parents aged 42, children 10 & 8, living in Bristol, £500 family excess, mid-tier cover) | £190 - £240 | £180 - £230 | Family discounts can apply. The Exeter's flexible excess and NCD protection can offer great value here. |
| 60-year-old couple (living in Surrey, seeking comprehensive cover with a £1,000 excess) | £350 - £450 | £320 - £420 | The Exeter is often significantly more competitive for older applicants due to their specialist focus. |
To get an accurate price based on your unique circumstances, you must get a tailored quote.
The Claims Process and Customer Experience
A policy is only as good as the service you receive when you need it most.
Making a Claim: How Easy Is It?
Both providers have a straightforward claims process:
- Visit your GP for a referral.
- Contact the insurer for pre-authorisation before any consultation or treatment.
- The insurer settles the bill directly with the hospital or specialist.
- Bupa has a highly developed digital infrastructure, including an online portal and app for tracking claims. They also have direct settlement agreements with a huge number of specialists, simplifying the process.
- The Exeter is praised for its personal, human-touch service. While their digital tools are excellent (via the Healthwise app), you are more likely to speak to a dedicated case manager who will guide you through the process. Their member-owned status often translates into a more empathetic and supportive claims experience.
Member Benefits and Digital Tools
- Bupa: Offers a suite of wellness services, discounts on gym memberships, and access to its extensive online health content.
- The Exeter: Provides its Healthwise app to all members, which includes a Digital GP, second medical opinion service, and access to physiotherapy and mental health support, regardless of whether you've added them as an option. This adds significant day-one value.
Furthermore, all WeCovr clients who take out a PMI or life insurance policy gain complimentary access to our AI-powered calorie and nutrition tracking app, CalorieHero, adding another layer of value to your health journey.
WeCovr's Expert Verdict: Which Provider is Right for You?
After comparing both providers across the key metrics, our verdict is that the "better" provider is entirely personal.
You should strongly consider Bupa if:
- You value the ultimate security of a major, trusted UK brand.
- You want access to the widest possible range of hospital networks and comprehensive benefits.
- You prefer a slick, digitally-led customer experience for managing your policy and claims.
- You have a relatively clean bill of health and fit a standard risk profile.
You should strongly consider The Exeter if:
- You are older, self-employed, or have a health history that might concern other insurers.
- You value the ethos of a member-owned mutual over a large corporation.
- You want maximum flexibility in controlling your premium with high excess options.
- You appreciate a more personal, case-managed approach to claims and service.
The Broker Advantage Ultimately, you don't have to choose alone. An independent broker like WeCovr can compare the entire market for you, including Bupa, The Exeter, and other leading providers like AXA and Vitality. We can advise on the critical underwriting process and often secure better terms than if you go direct. Plus, clients who purchase PMI through us can receive discounts on other policies like life or income protection insurance.
Can I switch from Bupa to The Exeter (or vice versa)?
Does private health insurance cover pre-existing conditions?
Is private medical insurance worth it for a family?
Ready to Find the Best Value PMI for You and Your Family?
The choice between a giant like Bupa and a specialist like The Exeter is complex. The right policy is one that's tailored to your health, your budget, and your priorities.
Let us do the hard work for you. A WeCovr adviser can provide a free, no-obligation market comparison, helping you navigate the options and find the perfect cover at the best possible price.
Related guides
Why private medical insurance and how does it work?
What is Private Medical Insurance?
Private medical insurance (PMI) is a type of health insurance that provides access to private healthcare services in the UK. It covers the cost of private medical treatment, allowing you to bypass NHS waiting lists and receive faster, more convenient care.How does it work?
Private medical insurance works by paying for your private healthcare costs. When you need treatment, you can choose to go private and your insurance will cover the costs, subject to your policy terms and conditions. This can include:• Private consultations with specialists
• Private hospital treatment and surgery
• Diagnostic tests and scans
• Physiotherapy and rehabilitation
• Mental health treatment
Your premium depends on factors like your age, health, occupation, and the level of cover you choose. Most policies offer different levels of cover, from basic to comprehensive, allowing you to tailor the policy to your needs and budget.
Questions to ask yourself regarding private medical insurance
Just ask yourself:👉 Are you concerned about NHS waiting times for treatment?
👉 Would you prefer to choose your own consultant and hospital?
👉 Do you want faster access to diagnostic tests and scans?
👉 Would you like private hospital accommodation and better food?
👉 Do you want to avoid the stress of NHS waiting lists?
Many people don't realise that private medical insurance is more affordable than they think, especially when you consider the value of faster treatment and better facilities. A great insurance policy can provide peace of mind and ensure you receive the care you need when you need it.
Benefits offered by private medical insurance
Private medical insurance provides numerous benefits that can significantly improve your healthcare experience and outcomes:Faster Access to Treatment
One of the biggest advantages is avoiding NHS waiting lists. While the NHS provides excellent care, waiting times can be lengthy. With private medical insurance, you can often receive treatment within days or weeks rather than months.
Choice of Consultant and Hospital
You can choose your preferred consultant and hospital, giving you more control over your healthcare journey. This is particularly important for complex treatments where you want a specific specialist.
Better Facilities and Accommodation
Private hospitals typically offer superior facilities, including private rooms, better food, and more comfortable surroundings. This can make your recovery more pleasant and potentially faster.
Advanced Treatments
Private medical insurance often covers treatments and medications not available on the NHS, giving you access to the latest medical advances and technologies.
Mental Health Support
Many policies include comprehensive mental health coverage, providing faster access to therapy and psychiatric care when needed.
Tax Benefits for Business Owners
If you're self-employed or a business owner, private medical insurance premiums can be tax-deductible, making it a cost-effective way to protect your health and your business.
Peace of Mind
Knowing you have access to private healthcare when you need it provides invaluable peace of mind, especially for those with ongoing health conditions or concerns about NHS capacity.
Private medical insurance is particularly valuable for those who want to take control of their healthcare journey and ensure they receive the best possible treatment when they need it most.
Important Fact!
We can look at a more suitable option mid-term!
Why is it important to get private medical insurance early?
👉 Many people are very thankful that they had their private medical insurance cover in place before running into some serious health issues. Private medical insurance is as important as life insurance for protecting your family's finances.👉 We insure our cars, houses, and even our phones! Yet our health is the most precious thing we have.
Easily one of the most important insurance purchases an individual or family can make in their lifetime, the decision to buy private medical insurance can be made much simpler with the help of FCA-authorised advisers. They are the specialists who do the searching and analysis helping people choose between various types of private medical insurance policies available in the market, including different levels of cover and policy types most suitable to the client's individual circumstances.
It certainly won't do any harm if you speak with one of our experienced insurance experts who are passionate about advising people on financial matters related to private medical insurance and are keen to provide you with a free consultation.
You can discuss with them in detail what affordable private medical insurance plan for the necessary peace of mind they would recommend! WeCovr works with some of the best advisers in the market.
By tapping the button below, you can book a free call with them in less than 30 seconds right now:
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WeCovr is an insurance specialist for people valuing their peace of mind and a great service.👍 WeCovr will help you get your private medical insurance, life insurance, critical illness insurance and others in no time thanks to our wonderful super-friendly experts ready to assist you every step of the way.
Just a quick and simple form and an easy conversation with one of our experts and your valuable insurance policy is in place for that needed peace of mind!