Underwriting is the process by which we decide on what terms we will accept someone for cover based on the information they provide.
When you take out health insurance, you currently have two options; Full Medical Underwriting and Rolling Moratorium Underwriting.
Full medical underwriting means that your medical history is taken into account before we decide on what medical conditions we may or may not be able to cover.
As we usually don’t cover you for any pre-existing conditions, you’ll be asked questions about your medical history when you apply.
It’s essential that you give us all the information we ask for, even if you have symptoms that have not yet been diagnosed. We may ask for confirmation from your GP or Specialist that a condition is not pre-existing.
Full medical underwriting helps to ensure you know exactly what you’re covered for when you join and it may help speed up the pre-authorisation of a claim.
Also any new conditions that arise after the start of your policy will be covered, subject to your policy terms and as long as they’re not related to any prior underwriting already applied.
The second type of underwriting is called Rolling Moratorium.
With Rolling Moratorium underwriting, you won’t need to fill in a health questionnaire about your medical history when you join.
However, when you try to make a claim, you’ll have to complete a pre-treatment form each time so that we can confirm if the condition is new or pre-existing.
If your condition began after joining, this claim will be paid, provided it is eligible under your policy.
However, if you require a consultation or treatment during the first 2 years of your policy for a pre-existing condition, this would not be covered.
A pre-existing condition will not be covered until two continuous years have passed after joining without any symptoms, treatment or advice.
For example, in the five years before joining, John had a spinal problem and a lung problem.
During the first two years of his policy, the spinal condition required treatment but his lung condition didn’t.
So after two years, because he had no symptoms, treatment or advice for his lung condition, John was able to get this covered and removed as an exclusion by medical underwriting at renewal. John’s spinal condition will be covered once he’s been symptom, treatment and advice free for 2 years.
If you’re ever unclear about any aspect of a policy then please refer to your membership guide go online or call your usual member services helpline.