What is medical underwriting?

Medical underwriting is a term used in health insurance to describe the use of a potential client’s previous medical information to evaluate their eligibility for coverage. This process is usually carried out by insurers when assessing whether or not to offer a client life or health insurance, and deciding how much to charge for the policy.

Where have you heard about medical underwriting?

Private health insurance is offered in many countries across the world, particularly in the US where the price of medicines, surgeries and hospital stays can be expensive. If you’ve ever applied for or currently have health insurance, it’s likely that your insurance company will have used a medical underwriter before offering you coverage.

What you need to know about medical underwriting.

Medical underwriters will usually take into account factors including certain factors age, previous health conditions, the nature of a client’s work, their geographical location and any other possible risks. This information is then used to give insurers a recommended premium, as well as whether to insure the client at all. There are two types of medical underwriting that are commonly in use – full medical underwriting and moratorium underwriting. Full medical underwriting offers a detailed analysis of a client’s current health, whereas moratorium underwriting is a simpler method, allowing applicants to receive cover without disclosing their entire medical history, instead having any pre-existing medical conditions excluded from their coverage.