Health Insurance Underwriting

Choosing Moratorium or Full Medical Underwriting

Reports show increasing delays with accessing NHS treatment. Cancer Research UK studied 14,300 patients in England that had been diagnosed with cancer, of these patients 23% experienced a delay that could have been avoided. Taking out a health insurance plan will give you access to private healthcare and works as a preventative against NHS waiting lists.  

Like other insurance products your cover will be made up of options. The medical underwriting determines what conditions you are covered for. Choosing the correct underwriting is an important step in buying health insurance. If you do not take out health insurance through a private medical insurance broker, you may not have the underwriting fully explained to you.


Moratorium underwriting

Unlike full medical underwriting a moratorium doesn’t require you to declare your medical history upfront. This is easy to set up and unobtrusive, it also reduces this risk of your medical insurance being invalid if you forget to disclose a condition.

The Moratorium works by excluding conditions you have received advice, medication, signs or symptoms for in the last 5 years prior to the start of cover. After completing two continuous years trouble free those conditions become eligible to be covered.

Full Medical Underwriting or FMU

FMU underwriting will require you to disclose your entire medical history and the insurer will then use this information to provide you with specific exclusions. For most health insurers you will need to complete a health declaration form.

This type of underwriting prevents you from experiencing any nasty surprises if you need to claim, as there will be no ambiguity around what you are able to claim for. In some instances, you may be able to gain cover for minor pre-existing conditions subject to the insurer discretion.

Both moratorium and full medical underwriting have pros and cons. At Healthcare Clarity we work closely with the UK’s health insurers and their underwriters, to help people find the right health insurance policy.

Get in touch with Healthcare Clarity – 01242 350071 

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