Mark is a 50-year-old plumber who is looking to spend another 10 years in his profession before taking early retirement. He is married with one child and has yet to quit his 30-a-day smoking habit, which he started when he was in prison 20 years ago. He had a minor heart attack seven years ago but has now made a full recovery. There's a history of heart attacks in his family. What health cover is available to him? His wife and child are already covered on another policy and he is not restricted in terms of his budget.
Gerry Mould, Medibroker In preparing solutions to Mark's needs, the key area to be taken into account is his pre-existing condition. Mark had a heart attack seven years ago so consideration regarding the underwriting options available is important. An application for a private medical insurance (PMI) plan with full medical underwriting may result in an exclusion of any treatment for his heart attack or any related condition. Alternatively, an application for a plan with a moratorium could result in acceptance without any exclusion. However, if a claim was to be made related to his heart a...
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