Navigation Links
IMG Add Moratorium Option, Increasing Likelihood of Pre-existing Conditions Cover for Globalsurance Clients
Date:7/11/2013

Hong Kong (PRWEB) July 12, 2013

IMG are set to add the option for moratorium underwriting on their GlobalFusion plan instead of only providing full medical underwriting with exclusions. Globalsurance analysts believe that the faster processing time and the higher chance of coverage for pre-existing conditions should be greatly attractive for retirees, one of the plan's main target markets.

Moratorium and full medical underwriting (FMU) are the two ways that insurers handle a client's pre-existing conditions (pre-ex). With moratorium underwriting, the client is given a period of time, usually 24 months, to be on the plan before any pre-ex are covered. During this period, if the client has no symptoms, special diet, treatment, or advice sought for their condition, only then will the insurer consider providing coverage. If any of these actions were taken during the period, then another 24 month period is required before coverage will be considered.

With full medical underwriting, any pre-existing conditions clients have will not be covered. The client must also complete a full questionnaire on their medical history. The number of questions usually is around 30, in comparison to the moratorium questionnaire, which usually only has 3-5 questions. Traditionally, insurers may cover pre-ex with an additional premium known as loading. IMG's FMU plans however, do not feature such an option.

Moratorium underwriting will likely not cover high risk conditions that require continuous treatment such as blood conditions or cancer. For some blood conditions, the loading costs can be up to 100%. However, injuries and smaller risk conditions will still be covered in the premiums without additional loading.

Moratorium underwriting has already been adopted by insurers such as Globality Health, ALC, and A Plus; it is quickly becoming one of the more prevalent options. As both the policies and levels of coverage continue to improve, Globalsurance analysts are eager to see how it will change the market in the future.

Read the full story at http://www.prweb.com/releases/img-pre-ex-conditions/moratorium-underwriting/prweb10902129.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Nia Vardalos Speaks Out on Adoption, Bolsters Legal Support for Abused Children
2. Robotic Surgery for Hysterectomy Often Not Best Option, Ob/Gyn Group Says
3. The Health Magazine Zdorovie is Increasing West Coast Distribution
4. Funeral Financials Issues Top 3 Reasons Why Cremation is Increasing in Popularity
5. Increasing construction in APAC and EMEA regions are the main drivers for its increasing consumption globally for Concrete Admixtures - New Report by MarketsandMarkets
6. Research highlights the increasing problem of prescription drug abuse among youth
7. Study Finds Overweight Young Males Have a Greater Risk of Not Surviving Until Age 55, Making Weight Loss Supplements Like Prescopodene Helpful With Increasing Longevity
8. Global Critical Care Market Will Reach $3.2 Billion in 2019 - Growth from Factor Concentrates, New Indications and Increasing Demand for Albumin in Asia-Pacific
9. Increasing Painkiller Use in the NFL Leads to a Culture of Prescription Drug Acceptance and Abuse, Passages Malibu Warns
10. EmploymentCrossing.com Backs Latest JOLTS Report of Increasing Job Openings Across America
11. Study finds molecular signature for rapidly increasing form of esophageal cancer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... ... 09, 2016 , ... Two renowned photographers, Robert Caplin (New York, NY) and ... island, June 14-19, 2016, hosted by Four Seasons Resort Maui at Wailea as part ... debut in 2015, the Maui Photo Expedition workshop will once again consist ...
(Date:2/9/2016)... VA (PRWEB) , ... February 09, 2016 , ... ... Small Mammal Prize has officially been won. A team from 21st Century Medicine ... discovered a way to preserve the delicate neural circuits of an intact rabbit ...
(Date:2/8/2016)... ... February 08, 2016 , ... Stephanie Hebert Insurance ... beginning of a new charity campaign. As part of their ongoing community involvement ... In the belief that children deserve a voice, and in the spirit of ...
(Date:2/8/2016)... N.J. (PRWEB) , ... February 08, 2016 , ... ... protective footwear and clothing, announced expansion into Canada to provide its range of ... opened a sales office in Quebec City that will provide bilingual customer service ...
(Date:2/8/2016)... ... February 08, 2016 , ... ... relationship-marketing firm, announced today that nominations will be accepted February 8, 2016 ... Awards. , Awards include the Information Security Executive® of the Year, ...
Breaking Medicine News(10 mins):
(Date:2/9/2016)... Calif. , Feb. 9, 2016  Increasingly, health ... monitoring their vital signs with wireless technology. With the ... can automate patient oversight and remotely detect problems before ... vital signs across in-hospital environments. the ... the United States . --> ...
(Date:2/9/2016)... HONG KONG , Feb. 9, 2016 ... has joined Athenex as Vice President of Corporate Strategy and ... Yeung , MSc, MBA has joined as Senior Director and Deputy ... Hong Kong . Simon Pedder stated, ... have known for a while. Coupled together with their unique ...
(Date:2/8/2016)... -- Cardiac Assist Devices - Medical ... Medical Devices sector report, " Cardiac Assist Devices ... an overview of Cardiac Assist Devices currently in ... on the pipeline products with comparative analysis of ... report reviews major players involved in the pipeline ...
Breaking Medicine Technology: