Glossary Of Terms

Chronic Conditions - A condition which current medical science can alleviate but not cure such as Eczema or Arthritis.

Critical Illness Cover - A form of health insurance cover under which a benefit payable by the health insurance provider to a critical illness insurance policy holder upon diagnosis of a critical illness such as cancer, heart attack, stroke or multiple sclerosis. It should be noted that medical "treatment" for such critical illnesses is usually covered by Private Health Care Insurance Plans. A Critical Illness Benefit is an additional financial benefit, often a lump sum, paid on diagnosis of such critical illness.

Critical Illness Plans - This type of medical insurance cover is geared to ease the long term financial burden and life style changes which may be necessary when a policy holder suffers a permanent chronic or long term critical illness or dismemberment, or loss of sight, hearing or movement. Critical illness cover may offer lump sums, combined to an income for life plus a death benefit too.

CPME(underwriting) - Refers to the medical underwriting of a private health care insurance Plan. Continuing Personal Medical Exclusions.
The term applies to situations when a change of health insurance provider or change in health insurance cover policy is under consideration (also called a 'no worse terms switch facility'). Members are covered with a health insurance provider using the current medical underwriting status. This is sometimes called Continued Personal Medical Exclusions (CPME) or simply CME. This switching facility is mostly applied to Groups and not individual Plans or families.

Deferred period - This is the period of time which must pass, before benefit is paid under income protection insurance cover, after an illness or injury has been diagnosed and reported to the health insurance provider.

Income Protection Insurance Plans - Such plans refer to the income you may presently earn and are geared to protect up to 75% of your gross annual earnings. Payment of monthly benefit on such Income Protection Insurance Plans is almost invariably deferred for periods of 4,13,26 or even 52 weeks with corresponding lowering of premium rates, the longer the deferral period.

Medibroker Limited - Online independent healthcare insurance advisory brokerage service, offering clients who visit their websites free quotes and advice concerning both PMI and PHI Policies and Plans, whether in the United Kingdom or Overseas. 

Medical Inflation - Many clients of PMI and PHI policies are concerned about rising health insurance cover premiums over time and age bands. Generally, the ever increasing costs of medical technology and hospital/medical costs are passed down to the clients in higher medical insurance premiums. Claims appear also to be on the increase as the NHS is unable to cope in many instances with patient needs. Present medical inflation therefore is usually 3-5% above UK inflation making premium rises of 8-10% per annum a norm.

Moratorium - This is an alternative method of dealing with pre-existing conditions under private health care insurance plans which removes the need to disclose evidence of your medical history when taking out health insurance. In effect it is a blanket pre-existing condition clause usually going back between 2-5 years from starting a new medical insurance plan. The clause excludes cover during an initial period, usually two years, of membership, for any conditions or related conditions for which medical treatment was received, advised on or was known about during a time period, (up to five years) prior to cover commencing. After completing the initial period of two years, all pre-existing conditions then become eligible for benefit under medical insurance, PROVIDED that at the time of receiving treatment the member has been free from either treatment or advice for that condition during that period.

Pre Existing Conditions - Any disease, illness or injury which began before the medical insurance cover inception date.

Voluntary Excess Or Deductible - A set amount of money, agreed in your Medical Insurance Cover Plan, which you agree to pay towards the cost of your claim. This may be applicable on each and every claim, or may be payable on the first claim over a given period of insurance. An excess or deductible (not standard excess) will usually result in a lowering of your premiums.

Waiver Of Premium - Often when illness strikes, money is short and a waiver of premium is used to continue the life of the Health Insurance Cover Plan during illness periods so that the term of the insurance cover is not broken. The health insurance provider therefore pays the premium during this period of illness or when you are claiming benefit, by a waiver of the monthly premium charge.

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