Your checklist
Before you buy private medical insurance, you need to understand
the following.
1. You agree to give the insurance company all the information
they need. If you don't give accurate details, your insurance company
can refuse to pay your claim or could cancel your policy.
2. You agree to pay regular monthly or yearly premiums as long as
you want cover. If you don't pay premiums, your cover will stop.
Your insurance company will only pay for costs you have paid, or
agreed to pay up to the last date covered by your premiums.
3. The cost of your premiums may increase once a year when you renew
your cover. Your individual premiums are not influenced by the number
of claims you make (unless your cover includes a no-claims discount).
4. If your insurance company plans on making changes and improvements
to a scheme, all customers will be told before they renew. This
will not prevent you continuing your cover.
5. If you change insurance companies, you may not be covered for
conditions or treatments that your existing policy covers.
6. Once you have received your policy, read it carefully.
Read your policy document carefully, you must keep to its
terms and conditions.
7. However, if you did not receive all the policy documents before
you decided to buy the policy, you will be given a cooling-off period,
of around two to four weeks, in which you can make sure the policy
is right for you.
8. If you decide not to go ahead you will usually receive a full
refund of premiums you have already paid, unless you have made a
claim.
9. If you want to cancel your policy after the cooling-off period,
your insurance company does not have to refund your premiums - even
those you have paid up front.
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