Do you insure people with diabetes?
May 10, 2018
Ian Westwood
May 10, 2018
Ian Westwood
We come across this question extremely often and in this article, we will try to give an insight into the way we assess this type of cases.
The main answer we have is that we do not adjust our regular premiums for new clients in order to include cover for pre-existing medical conditions. When a client discloses some medical conditions on the Full Medical Underwriting Application Form, our underwriters will assess the information and make a decision. Nevertheless, the decision will be simply whether to exclude the particular conditions or to offer standard terms, i.e. with no personal exclusions. We do not have the facility to offer terms for new clients where the premium is higher than our standard rates. In the majority of cases the underwriter would wish to exclude the conditions listed.
It is different when the client’s application is to transfer cover from an existing international medical insurance plan with another insurer. We will summarise what can happen in those cases.
The transfer will be on a ‘CPME’ basis (or ‘continuing personal medical excisions’). The applicant must answer the medical questions in the relevant application form. The answers to those questions are reviewed by our underwriters and there are several possible outcomes, as follows:
Sometimes we can also offer the lower transfer loading, but with an exclusion on a particular disclosed medical condition.