Comprehensive Medical Insurance Explained – Guide to PMI Insurance

Introduction to risk taking

Underwriting in private health insurance is a process that insurers undertake to assess risk and policy coverage. When it comes to private health insurance, there are two main types of insurance, moratorium and full medical insurance.

What is a full medical guarantee?

With Full Medical Underwriting, you disclose your entire medical history from the start, and your insurer will take your health into account when offering you policy terms.

Do I have to disclose my medical history when taking out health insurance?

Yes, if you opt for full health insurance, you will need to complete a health questionnaire to purchase private health insurance. You will be given a health declaration form which will ask you a series of questions about your health and previous medical conditions.

Depending on what is in the health statement, the insurer may ask for more information from your GP or proof of your medical history.

Benefits of full medical insurance

Benefits of comprehensive medical insurance include:

• Know what’s covered – You’ll know right from the start what’s covered and what’s not, which isn’t always the case with a moratorium.
• You may be able to get coverage for conditions that occurred in the past 5 years, especially if the condition was minor.

Disadvantages of comprehensive medical insurance

There are some disadvantages of comprehensive medical insurance, such as:

• The policy may take longer to arrange due to the questionnaire and the potential need to communicate with the GP.
• Removing exclusions from your policy can be difficult.

If you are looking for a health insurance policy, we recommend that you read our article “The best health insurance in the UK” or contact us for a free quote.