Moratorium underwriting - Pre-existing conditions

If you do have a recurring illness, seek medical help for it straight away. It's not worth risking your health by waiting for two years so you can claim privately via a PMI policy as there is usually a clause that says they won't pay for treatment if you 'ought reasonably' to have sought treatment or advice in this time. You don't give details of your medical history when you apply, but you won't be covered for any medical condition you've received advice or treatment for in the last few years (usually five, but it does vary between insurer).

Any medical problems that are related to a pre-existing condition are also excluded. But because the insurer will only ask about your medical history at the point you apply for treatment, some pre-existing conditions might be included in your policy in the future. Usually this is when you haven't had any symptoms or treatment for at least two years after your policy starts. So, this type of policy may give you better cover if you've had a condition in the past that may flare up in the future - just remember that some conditions will always be excluded. Any insurer offering moratorium underwriting must also offer full medical underwriting.