If you or your loved ones were to experience worrying symptoms, Private Medical Insurance (PMI) can give you some control over the situation. With this form of cover, diagnosis and treatment can be dealt with almost immediately so you can concentrate on getting well sooner.

Private Medical Insurance ensures that the costs for private healthcare for unforeseen medical conditions are met by the insurance company. It is important to note that PMI will only cover non-pre-existing acute conditions. An acute condition is one that has a start date and, potentially, an end date.

The NHS will still deal with emergency treatment, so if you are rushed to hospital, it will be the NHS that treats you. You would then be transferred to a private hospital as soon as you are well enough to do so.
Cavendish Online aim to reduce the cost of your Private Medical Insurance, so after the policy has been live for one year Cavendish Online will return to you a percentage of any initial commission received from the provider.*

Talk to an adviser about the Medical Insurance products available:

01392 455589

 

There are 4 key areas to consider when choosing your PMI cover.

We explain these in more detail below.

1.Cover Options

All PMI providers cover the following to an extent:

  • In-patient care
  • Cancer cover (depending on the level of cover selected)
  • Private Ambulance
  • Surgery fees
  • Oral Surgery (non-dental)
  • Diagnostic tests and consultations.

Most providers also offer further options that can be added to the cover or may be included as part of their more comprehensive plans. These options inlcude:

 

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  • Increased cancer cover
  • Out-patient cover
  • Alternative therapies or physiotherapy cover
  • Psychiatric cover
  • Prostheses
  • NHS Hospital cash benefit
  • Parent accommodation
  • Maternity cash benefit
  • Home help cash benefit
  • Home nursing
  • GP helpline
  • Prescriptions
  • Dental cover
  • Optical care
  • Worldwide Travel cover.

Please note that these lists are not definitive for all providers and there may be the option to remove benefits to reduce cost. The insurer’s Key Features Document should be reviewed for full details of options included.

2. Underwriting Type

Underwriting is a term used by insurance providers which refers to the use of medical information to evaluate an application for cover.
For Private Medical Insurance, there are three main ways in which providers can underwrite the policies, which are as follows:

Full Medical Underwriting

At the point of application, you would disclose your medical history to the provider to asses and thus they will decide whether there is anything to exclude from the cover.

Moratorium Underwriting

At the point of application, minimal information is required. The cover automatically excludes any condition for which you have seen a medical practitioner or received treatment for in the last five years. The excluded condition may then be covered at a later date, assuming no treatment or review has occurred within two years from when the policy commenced.

Continued Personal Medical Exclusion Underwriting (CPME)

If you have an existing PMI policy then there is also the option to use Continued Personal Medical Exclusion (CPME) underwriting. This allows you to transfer any personal exclusions in place on your current policy and does not add any new ones. A copy of your most recent insurance certificate would be required, and it is at the insurers’ discretion as to whether this option can be used.

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You also need to be aware that virtually all providers will exclude cover for an illness or injury which you are currently receiving treatment for and are likely to require long term, or a condition whereby symptoms are expected to arise in the future – these are known as chronic conditions.

There are also general exclusions which most providers apply to their policies, where they will not cover things such as cosmetic surgery, childbirth or self-harm. Please refer to the provider’s Key Features Document for a full list of general exclusions applied to the policy.

There are pros and cons to each underwriting method, which is why speaking to one of our advisers may be beneficial to you. As a whole of market broker, our advice team can research the insurer most suited to your needs and recommend which type of underwriting would provide you with the best policy possible.

3. Excess

As with other forms of insurance like for your home or car, to reduce the monthly cost of the cover, there is the option to add or increase the excess payable. While many insurers offer an annual excess option some also offer the option to pay the excess per claim. Our advisers can put together a range of quotations with various excess levels to make it easier to compare monthly premiums for your cover.

Talk to an adviser about the PMI products

01392 455589

4. Hospital Availability

There are many private medical facilities across the UK and each one may be considered a general hospital or may specialise in certain areas of medicine; for example, London is home to the National Hospital for Neurology, the British Hernia Centre and the more famous Great Ormond Street Children’s Hospital.

Many providers arrange the hospitals available to you into lists and although they may use different terms for these groupings, they are generally distinguished as Local, Countrywide and Premier.

*The exact amount of commission and sum to be returned to you by cheque will be confirmed after commencement of the policy. Only an indication of this figure can be provided before this time. Please note, the percentage to be returned will not change, however until full underwriting and start date have been applied to the policy, we cannot be sure of the exact commission amount.
We can offer cover through the following Insurers: BUPA | VitalityHealth | The Exeter | Aviva Health | General & Medical |April UK |AXA