You also need to be aware that virtually all insurers 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 insurers apply to their policies, where they will not cover things such as cosmetic surgery, childbirth or self-harm. Please refer to the insurer'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.
Underwriting is a term used by insurance insurers 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 insurers can underwrite the policies, which are as follows:
At the point of application, you would disclose your medical history to the insurer to asses and thus they will decide whether there is anything to exclude from the cover.
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.
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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Our team of friendly and professional advisers are on hand to help with any questions you may have regarding Life Insurance.
The advisers can also make recommendations tailored to your current situation and will research the market on your behalf, ensuring you secure the cover you need and supporting you every step of the way.
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The insurance products offered by Cavendish Online have no cash-in value at any time. If you stop paying your premiums your cover will stop, your policy will end, and you will receive no benefit. If you have not claimed before the end of your chosen policy term, the policy will end, and no benefit will be paid.