The Money Men­sch

The Jewish Chronicle - - BUSINESS NEWS -

Martin Lewis, 34, is an award­win­ning TV and ra­dio pre­sen­ter, best known for his web­site MoneySaving­Ex­pert.com, whose weekly email has 650,000 sub­scribers. Each week he shares some use­ful cash-sav­ing tips for JC read­ers Sav­ing on gym mem­ber­ship It is not like me to rec­om­mend a way that you can lose pounds, but here we are talk­ing phys­i­cal fit­ness. If you want to join a gym, there is a mas­sive loophole that can save you hun­dreds. Un­til Fe­bru­ary 28, PruHealth med­i­cal in­sur­ance is of­fer­ing six months’ free mem­ber­ship at all Can­nons gyms (ex­cept City of Lon­don) and se­lected JJB gyms. If you set things up cor­rectly, you can pay as lit­tle as £20 a month for a pol­icy and get the sig­nif­i­cantly more costly mem­ber­ship thrown in. But let me stress, this is not for those want­ing com­pre­hen­sive med­i­cal in­sur­ance. It is a cheap means of be­long­ing to a gym. The key thing is to get the cheap­est med­i­cal in­sur­ance pos­si­ble from PruHealth — car­ry­ing a £1,000 ex­cess and of­fer­ing the most ba­sic level of cover, ex­clud­ing treat­ments in Lon­don hos­pi­tals. For ex­am­ple, if you are a 26year-old non-smoker, a pol­icy would cost around £18 a month, whereas mem­ber­ship at Can­nons in Ful­ham costs £65 a month. Thus, sav­ing £47 monthly over six months, you are al­most £300 bet­ter off. Af­ter the six months, you can con­tinue the gym mem­ber­ship for just £25 a month if you main­tain the in­sur­ance. Al­ter­na­tively, you should be able to can­cel the in­sur­ance and can­cel the gym at this point.

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