USEFUL INFORMATION

What is:

Moratorium:
This is an underwriting type which is common for new policies or new members. Its purpose is to set a start date for your medical history. So that you are covered for anything new that happens to you once you are on cover, but not for existing conditions.

That said, existing conditions over 5yrs ago will usually be covered so long as you have had no medical attention for them in the past 5yrs.

Switch:
This is an underwriting type which allows you to switch your health insurer to a new provider without having to restart your underwriting (start on a new moratorium basis again).

It is the standard method that allows people to switch from one provider to another whilst protecting any previous or existing illnesses from being excluding by their new insurer.

CME / CPME:
This is another name for “Switch” underwriting. It stands for “Continuing Medical Exclusions” or “Continuing Personal Medical Exclusions”. Again, it means you can switch insurers without incurring new medical exclusions.

6 week option:
This is an option with many private health insurance policies which is effectively a cost-cutting method. Often used when people simply can’t afford full private health insurance it means that your policy can only be used when the NHS are unable to provide your treatment within 6 weeks.

It is important to keep in mind that this means some “urgent” issues are almost always treated by the NHS rather than your private health insurance policy (cancer, heart issues etc.)

If this is something you are considering we would recommend you discuss this with a specialist. Each insurer handles their 6 week option slightly differently and there are many factors to consider before we could make a recommendation for anyone in regards to this.

Excess:
This is the amount you will pay towards your claim. Just like with home or car insurance etc.
A common excess is £100 but it can be anything from £0 > £1,000.

There are typically two ways an excess can work. Either per person, per claim. Or per person, per year.

Per person, per claim means that you pay your excess once for each new claim (or condition) that you have. Whereas once per person, per year means that whether you have 1 or 10 claims in a year, you only pay your excess once. But you pay it again the following year if your treatment continues beyond the first year.

In most cases we recommend clients have a small excess of around £100 as this is usually most cost effective.

For your free review, please call us at +44 (0) 1202 082 380 or email us at
info@havenfs.co.uk
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