Health Insurance
Undestanding Underwriting
When taking out a health insurance policy you will need to know what would be the best type of underwriting for your personal circumstance.
You have a few choices, however these are specific to your personal circumstances and you should always discuss this with your broker or a health insurance specialist before you apply for a new health insurance plan.
So lets take a look at the options.
You are taking out health insurance for the first time or you are not currently covered by another insurance plan:
1. Moratorium Underwriting
In this case there is no need for a medical questionnaire. Instead, the policy has automatic temporary exclusions. These are generally pre-existing conditions: any condition where you have asked for medical advice, had symptoms of, or been treated for, including over the counter medication, within the last five years before your policy was taken out.
If you take out a health policy on a moratorium basis and you have two ‘clear years’ for a medical condition: you have not asked for advice, had symptoms of, or have been treated for that health problem; then you will be eligible for cover for that condition subject to policy terms and conditions.
Key points:
No medical questionnaire required.
Automatic and instant acceptance.
Does not cover pre-exisiting conditions.
Automatic exclusions.
2. Full Medical Underwriting
The insurer will ask you to complete a health questionnaire on your application form. After reviewing your completed questionnaire, they will let you know at the outset the basis on which they can offer you cover, listing exclusions for any pre-existing conditions you may have. Then, if necessary, they may ask your doctor for further information.
It is essential that you list complete and accurate information. It's best to tell the insurer everything about your medical history at the start - no matter how minor it may seem-to ensure that your policy provides valid cover.
If you currently have health insurance in place, you may wish to continue your cover without having to start again. You will be continuing your cover based on the original underwriting you had and each insurer may have different eligibility criteria.
3. CPME - Continued Personal Medical Exclusions or otherwise known as (Switch) plans include continuous cover for pre-existing conditions and are as shown on your current insurer’s medical certificate. Exclusions shown on the current certificate will be continued. The information attachments supplied with this quotation are generalised and designed only to be of help, and are subject to Insurer’s terms and conditions. As client(s) had Personal Medical Insurance for minimum period years he/she will be covered on CPME (Switch) terms, and you have made it clear of what claims have been made in the last 5 years.
If the applicant(s) proceed the policy should satisfy the demands and needs. A copy of the current certificate(s) will be required with the application. *The above is subject to underwriting and acceptance and confirmation by the Insurer
3. Continued Moratorium- otherwise known as (Switch) plans include continuous cover for pre-existing conditions and are as shown on your current insurer’s medical certificate. Exclusions shown on the current certificate will be continued. The information attachments supplied with this quotation are generalised and designed only to be of help, and are subject to Insurer’s terms and conditions. As client(s) had Personal Medical Insurance for minimum period years he/she will be covered on continued moratorium terms, and you have made it clear of what claims have been made in the last 5 years.
If you proceed the policy should satisfy your demands and needs. A copy of the current certificate(s) will be required with the application. *The above is subject to underwriting acceptance and confirmation by the Insurer
4. General and Medical Switch:
General and Medical switch criteria differ from other providers whereby there are wait periods and these could be beneficial and advantageous to your specific requirements. The majority of insurers may exclude pre-existing conditions, General &Medical work by continuing to cover your pre-existing conditions in the following way:
The following procedures will be excluded from your transfer of cover to us for a minimum period of 36 months where you have had, in the 60 months prior to the start of your cover with us, any symptoms or condition (present or in remission) requiring any of these procedures or treatments, a) cardio procedures (including by-pass surgery), b) cancer care, investigations, or treatment, c) psychiatric or mental health care or treatment, d) joint replacement or revision surgery.
All other treatment, investigations, or tests, required, for conditions for which symptoms were present prior to the start of your cover with us, will be excluded from your transfer of cover to us for a minimum period of 10 months. In addition, benefit, care or treatment which relate to pregnancy, or complications of pregnancy (including private delivery), are excluded from your transfer of cover for a minimum period of 10 months.
Please also see details on No Claims Discount