Private Medical Insurance FAQs
What does NCD mean?
- NCD is a No Claims Discount usually applied at the start of the policy at level of 27.5 % from the actual policy price. This can rise in the event of a sustained period of no claims usually to a maximum of 50% of the standard premium.
- In the event of a claim or claims the premium will rise by 15% in each policy year until it reaches the standard premium. It will not go higher than the standard premium.
What if I have a pre-existing medical condition, will I be covered?
- Firstly, if you have cover and the condition was not excluded from your existing policy then you will be able to switch providers and maintain your existing cover.
- Secondly, if it a new policy then the following underwriting terms will apply.At point of claim the insurer will contact your GP, if you have had treatment for any condition in the last 5 years then you will have to be treatment and medication free for a period of 24 months from the inception of the policy. At which point that condition will be eligible for cover.
What types of cover are available to me and my family?
- Private Medical Insurance is usually split into three categories.
- Basic cover . Generally covers full inpatient treatment but does not cover diagnostic tests or consultancy fees. Can sometimes have financial limits on certain procedures eg £30,000 on cancer treatment. Budget plan.
- Limited outpatient. This type of policy has full inpatient cover and has a financial limit on out patient treatment of usually between £600 and £1500 per policy year.Middle range policy, very popular.
- Fully comprehensive.A full refund policy. No limits on outpatient or inpatient treatment. Significantly more expensive.