⚠️ Senior Editor's Note: When purchasing Private Medical Insurance (PMI) in the UK, the "Underwriting" method dictates how your pre-existing conditions are handled. This is a complex area. Always answer medical questions with absolute honesty. Non-disclosure is considered fraud and can lead to your policy being voided exactly when you need it most.
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| Which Private Health Insurance Saves You Money? |
You’ve decided to bypass the lengthy NHS waiting lists and invest in Private Medical Insurance (PMI). It is a prudent financial decision for your health.
However, when completing online quote forms for major providers like Bupa, AXA, or Aviva, you encounter a pivotal question: "Do you want Moratorium or Full Medical Underwriting?"
Most applicants simply select "Moratorium" because it implies speed and convenience. This oversight can prove costly.
Selecting the incorrect underwriting method could result in a claim denial when you eventually require surgery. In this guide, we break down the pros and cons of both methods in plain terms.
Moratorium Underwriting (The "Fast" Way)
This is the default choice for most online aggregators. "Moratorium" essentially means "Wait and See."
- No Questionnaires: You are not required to complete a lengthy medical history form at the point of sale.
- The 5-Year Rule: The insurer automatically excludes ANY condition for which you have received treatment, medication, or advice (or experienced symptoms of) in the last 5 years.
- The 2-Year Fix: If you join and subsequently go 2 full continuous years without any symptoms, medical advice, or treatment for that specific condition, the insurer may begin to cover it.
The Risk: You lack certainty regarding your coverage until the moment you make a claim. The insurer reviews your medical records at the time of the claim. If they discover a GP visit from four years ago related to your knee pain, your knee surgery claim will be rejected instantly.
Full Medical Underwriting (The "Clear" Way)
This is the traditional, thorough method. It requires transparency upfront to ensure clarity later.
- Full Disclosure: You must complete a detailed declaration of your entire medical history.
- Definite Exclusions: The insurer reviews your history and provides a specific list: "We will cover everything EXCEPT your right knee and your pre-existing asthma."
- Certainty: You know precisely what is covered from Day 1. There are no unexpected denials years down the line.
The Benefit: Claims are typically processed faster because the insurer already holds your medical data. They do not necessarily need to request reports from your GP for every new claim.
Comparison
| Feature | Moratorium (Mori) | Full Medical (FMU) |
|---|---|---|
| Setup Speed | Instant (Online) | Slower (Detailed Review) |
| Pre-existing Conditions | Potentially covered after 2 years | Usually permanently excluded |
| Claim Certainty | Low (Uncertainty) | High (Guaranteed) |
| Price | Often similar | Often similar |
Who Should Choose Which?
Choose "Moratorium" If:
You are young, generally healthy, and have not consulted a doctor in the last 5 years. You prioritize setting up the policy immediately without administrative hassle.
Choose "Full Medical" If:
You have a complex medical history (e.g., cardiovascular issues, recurring back pain). You require 100% clarity on exclusions to avoid paying premiums for coverage you cannot utilize.
Chief Editor’s Verdict! Don't Be Lazy
Filling out forms is tedious. However, having a £10,000 surgery claim rejected because you forgot to mention a migraine consultation from four years ago is financially devastating.
Your Action Plan
1. If you have any significant medical history, prioritize Full Medical Underwriting.
2. If you opt for Moratorium, adhere strictly to the "2-Year Rule."
3. Always review your policy certificate to confirm specific exclusions.
Insurance functions best when there are no secrets. Be honest, be clear, and get covered.
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