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When leaving a company policy, it is important to consider the type of policy that best suits your needs.

Most employees on a company scheme have never chosen which cover options they have. As a result they have not had an option to review what is right for them. Therefore when you consider an individual plan, it is important to make sure you speak to an advisory broker who can help you decide which cover levels are right for you.

Retiring or Leaving a Company Health Insurance Scheme

Whether you are retiring or leaving the company you work for, you should be given the opportunity to move off the company health insurance scheme and onto your own personal plan.

It is important to have a market review at this point because the price given, as a group leaver, could be inflated. This is because group schemes are usually community rated, making it hard for your current insurer to calculate your individual risk.

Can I Continue my Underwriting and Keep my Pre-Existing Conditions Covered?

Yes, you can continue your underwriting and keep your pre-existing conditions covered. If you are simply moving from a company scheme to an individual policy with the same insurer this is easy but you could pay more for it.  Therefore, a full review of the market is advised, where you will be subject to underwriting questions to better ascertain your individual risk.

All insurers have different underwriting questions and it is important to speak to an advisory broker who will help find the most relevant policy for you.

Past medical history and pre-existing conditions don’t lead to any exclusions from the moment a group policy begins. Each person on the document will be covered for any pre-existing and new conditions until the end date. MHD underwriting is typically only available on company private health insurance with a minimum group size of 15 employees.