Terms of Plans
For the individual expatriate or family there are usually only two
ways to take out international medical insurance. By means of
a
"moratorium" application or a
"full underwriting" application. It is
important to understand these rather jargonist phrases as claims
can be rejected if you have inappropriate underwriting.
A
moratorium plan means that any
"pre existing" condition,
for which you have had treatment, advice or consultation upon
during the last 2, 3 or even 5 years in some cases, will be
EXCLUDED from coverage. Should you then not have
any treatment, advice or consultations for such conditions for a
further two years, your insurer may choose to add such a condition
to your policy.
Full
underwriting applications mean
all medical history questions have to be completed (not needed on a
moratorium plan) and most insurers may then exclude any particular
stated condition, which they feel will lead to claims upon
them.
Full underwriting schemes are a little more complex as sometimes
confirmation and clarification letters may be needed from your
doctor in order to have a specific condition covered under your new
plan, or for that insurer to offer cover at all (for example: HIV
or AIDS conditions coverage or other long-term endemic/chronic
conditions.)
For larger groups of expatriates and large corporate plans,
insurers will frequently offer coverage on a "Medical History
Disregarded" basis. Meaning a new plan member might even be in
hospital for a triple bypass, but still have that condition
included in the total corporate plan.
Clearly with larger numbers of people in a plan, insurers are
prepared to take higher risks and offer lower premiums. Company
plans can have premiums some 20% to even 50% less than individual
plans, due to the larger numbers of employees and higher annual
premium overall charged by that insurer.