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A private medical insurance is specifically designed to cover medical expenses that are incurred for availing treatment in private hospitals for acute conditions that basically start after the policy begins. An acute condition is referred to as any illness, disease or injury that generally has a quick recovery period and is fully curable. Most private insurance policies do not cover long term illness and chronic diseases and have a high chance of recurrence or remaining incurable. The reason why people prefer PMI as against NHS is that with private insurance, they can easily bypass long queues to avail prompt treatment. Moreover, the insured has greater choice and freedom when it comes to choosing hospitals, specialists, time if treatment and surgeries. They are also ensured greater access to specialists and advanced treatment options. There are two primary types of private insurance policies that the insurers offer to their clients. They make use of two main methods known as : full medical underwriting and moratorium underwriting. Full medical underwriting is offered by all insurance companies. However, moratorium underwriting option is provided only by a select number of insurers. Full Medical Underwriting This type of policy requires the insured to give comprehensive information and details about his health. The insurer is also allowed to contact the applicant's doctor to get further details, if required. In cases where the applicant does not disclose full information, the insurer has the right to refuse claims the applicant makes in the future or even cancel the policy. If the applicant in unsure of disclosing certain information regarding a pre-existing condition that has chances of recurrence, it is always better to document it. In such cases, the insurer might issue a policy with that condition as an exclusion. When applying under a full medical underwriting option, the applicant is required to disclose all medical facts in order to be able to make legitimate claims in the future. Moratorium Underwriting The moratorium underwriting policy does not require the applicant to disclose full medical history. However, the policy when issued will not cover treatment for any medical condition that the applicant has already received treatment for or has symptoms. Simply put, the policy will not cover conditions that have existed over the past 5 years. But, two years after the policy has started and if the applicant has not shown any symptoms or received treatment, these conditions will automatically become part of the cover. Though the policy does not require full disclosure, when the insured makes a claim, the insurer might want to see medical records from the past to determine whether the claim can be covered or not. Private insurance can turn to be expensive when you are looking for a policy that provides comprehensive coverage. There are several insurance agencies which offer these policies. However, it is important that the applicant completely comprehends the terms and conditions of the policy so as to ensure that it appropriately fits not only his medical requirements, but his budget as well! Check out health protected site, which offers private medical insurance UK from various other insurance companies and helps you professionally to find out the best choice of yours. It provides exclusive individual and family health insurance in UK.
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