Can You Switch PMI Providers Without Losing Benefits
Thinking about switching your private medical insurance (PMI) but worried about losing the cover you’ve built up? You’re not alone. As an FCA-authorised broker, WeCovr has helped arrange over 900,000 policies in the UK and we know this is a top concern for many people. Let's explore how to switch providers smartly.
Rules on continuous cover and avoiding new waiting periods
Switching your private health insurance provider is a bit like changing your car insurance, but with one crucial difference: your health history. The good news is that the UK PMI market has specific rules designed to help you move to a new insurer without being penalised for health conditions that developed while you were with your old one.
This is made possible through special types of underwriting known as 'switching terms'. The most common methods are:
- Continued Personal Medical Exclusions (CPME): This is often the best option for a seamless switch. Your new insurer agrees to cover you on the exact same terms as your previous one. Any exclusions you had on your old policy are simply carried over to the new one.
- Continued Moratorium Underwriting: If your original policy was on a moratorium basis, you can often continue this with a new provider. The "clock" on your two-year moratorium period for pre-existing conditions doesn't reset, meaning you don't have to start from scratch.
The key principle is continuous cover. Insurers recognise that to have a competitive market, they need to allow people to move. By using these switching terms, you can avoid new medical examinations and, most importantly, new initial waiting periods for conditions you were already covered for.
Why Consider Switching Your PMI Provider?
While loyalty can be rewarding, it doesn't always pay to stick with the same health insurer year after year. Renewal premiums can often increase significantly, and you might be missing out on better benefits or service elsewhere.
Here are the most common reasons people look for a new private health cover plan:
- Rising Premiums: This is the number one driver. Insurers adjust premiums based on age, medical inflation (the rising cost of treatments), and your claims history. It's not uncommon to see renewal quotes jump by 20% or more.
- Better Cover: Another insurer might offer benefits that better suit your current lifestyle. This could include enhanced mental health support, a broader choice of hospitals, or comprehensive cancer care.
- Improved Service: You might be unhappy with your current provider's claims process, customer service, or digital tools.
- Access to a Different Hospital List: Insurers have agreements with different hospital groups. If you've moved house or want access to a specific hospital that isn't on your current list, switching could be the answer.
- New Member Incentives: New providers often offer introductory discounts or added wellness benefits to attract customers, which can provide significant value in the first year.
According to the Office for National Statistics (ONS), the cost of hospital services has been steadily rising. This medical inflation is a major factor in premium increases, making it more important than ever to compare the market and ensure you're getting fair value.
Understanding Underwriting: The Key to a Seamless Switch
'Underwriting' is the process an insurer uses to assess your health risk and decide the terms of your policy. When you first buy PMI, you usually choose between two main types. When you switch, two further options become available. Understanding them is essential.
Standard Underwriting for New Policies
- Full Medical Underwriting (FMU): You complete a detailed health questionnaire, disclosing your full medical history. The insurer then assesses this and may apply specific exclusions for conditions you've had in the past. It’s more work upfront, but you know exactly what is and isn’t covered from day one.
- Moratorium Underwriting: You don't have to declare your medical history. Instead, the insurer automatically excludes any condition you’ve had symptoms, treatment, or advice for in the five years before the policy started. However, if you then go two full years on the policy without any issues relating to that condition, the exclusion may be lifted.
Special Underwriting for Switching
This is where the magic happens. These options are specifically designed for people moving from one PMI provider to another.
-
Continued Personal Medical Exclusions (CPME):
- What it is: You provide your new insurer with your current policy certificate. They agree to match your existing underwriting terms.
- How it works: If you had an exclusion for, say, a knee problem on your old policy, that same exclusion will apply to your new one. But crucially, any new conditions that developed and were covered by your old policy (like a heart condition diagnosed last year) will also be covered by your new one, with no new waiting period.
- Who it's for: Ideal for those who have been on a Fully Medically Underwritten policy and have developed new conditions they want to keep covered.
-
Continued Moratorium:
- What it is: If your current policy is on a moratorium basis, you can continue it with a new insurer.
- How it works: The five-year and two-year periods from your original policy carry over. For example, if you were 18 months into your two-year trouble-free period for a pre-existing back issue, you only have another 6 months to go with the new insurer before it might become eligible for cover. The clock doesn't reset.
- Who it's for: Perfect for those currently on a moratorium policy who haven't claimed recently and want to switch for a better price or slightly different benefits.
Using a specialist PMI broker is the safest way to navigate these options, as they can ensure the paperwork is handled correctly and that you are genuinely getting 'like-for-like' or better cover.
How to Switch Your Health Insurance: A Step-by-Step Guide
Ready to make the move? Follow this simple process to ensure a smooth transition.
- Review Your Current Policy: Before you start shopping, dig out your latest policy documents. Pay close attention to your level of cover, your excess, any exclusions, and your renewal date.
- Don't Cancel Your Old Policy Yet! This is the most important rule. Never cancel your existing cover until your new policy is fully active and you have the documents in hand. This prevents any gaps in cover where you would be uninsured.
- Speak to an Independent Broker: This is our top recommendation. An expert broker, like WeCovr, can save you time and money. We work for you, not the insurers. We will assess your needs, compare quotes from across the market, and handle the application using the correct 'switch' underwriting to protect your benefits.
- Gather Your Documents: You will need your most recent Certificate of Insurance from your current provider. This document proves you have continuous cover and lists any personal exclusions you might have.
- Compare Quotes and Benefits: Your broker will present you with options. Don't just look at the price. Compare the hospital lists, outpatient limits, cancer cover, and any added wellness benefits.
- Complete the Application: With your broker's help, you'll complete the application for your chosen new provider. Be sure to specify that you are applying on 'CPME' or 'Continued Moratorium' terms.
- Receive and Check Your New Documents: Once your application is accepted, the new insurer will send your policy schedule and certificate. Check them carefully to ensure the underwriting terms are correct and that there are no unexpected new exclusions.
- Cancel Your Old Policy: Now, and only now, should you contact your old insurer to cancel the policy. Make sure you do this before it auto-renews to avoid paying for two policies at once.
The Role of a PMI Broker in Switching Providers
You can try to switch providers on your own, but it can be a minefield. The language is complex, the rules are nuanced, and a simple mistake could lead to you losing valuable cover.
This is where a specialist private medical insurance UK broker like WeCovr becomes invaluable.
- Expert Knowledge: We live and breathe PMI. We understand the intricate 'switch' rules of every major UK insurer and can advise on the best strategy for your specific circumstances.
- Market Access: We have access to deals and policies from a wide range of insurers, including some that may not be available directly to the public. This ensures you get a comprehensive view of your options.
- No Cost to You: Our service is free. We are paid a commission by the insurer you choose, which is already built into the premium. You get expert, impartial advice without paying a penny extra.
- Hassle-Free Process: We do the legwork for you – from gathering quotes to filling out the application forms and ensuring the underwriting is transferred correctly.
- Ongoing Support: Our relationship doesn't end once you've bought the policy. We're here to help at renewal time next year to ensure you continue to have the best cover at the best price.
Given the complexities, using an FCA-authorised broker provides peace of mind and is the most reliable way to switch PMI providers without losing benefits.
Pre-existing and Chronic Conditions: The Golden Rule of PMI
This is the most important concept to understand in UK private medical insurance. It cannot be overstated.
Standard UK PMI is designed to cover acute conditions that arise after you take out your policy.
- Acute Condition: A disease, illness, or injury that is likely to respond quickly to treatment and lead to a full recovery (e.g., joint replacement, cataract surgery, hernia repair).
- Chronic Condition: A disease, illness, or injury that has one or more of the following characteristics: it needs ongoing or long-term monitoring, requires palliative care, has no known cure, or is likely to recur (e.g., diabetes, asthma, high blood pressure, arthritis).
- Pre-existing Condition: Any condition for which you have experienced symptoms, received medication, or sought advice before your policy's start date.
PMI does not cover the management of chronic conditions or pre-existing conditions (unless you have been covered for them under specific switching terms). The NHS provides this long-term care. PMI is there to help you bypass NHS waiting lists for eligible, acute treatments.
When switching providers, the CPME or Continued Moratorium rules are designed to ensure that an acute condition that developed while you were on your old policy can continue to be covered by your new policy. It does not magically provide cover for chronic conditions.
Comparing Switching Options: A Clear Breakdown
To make it simpler, here’s a table comparing your main options when your PMI renewal comes up.
| Feature | Stay with Current Provider | Switch with CPME Terms | Switch with Continued Moratorium |
|---|---|---|---|
| Cover for New Conditions | Yes, covered per policy terms. | Yes, covered per new policy terms. | Yes, covered per new policy terms. |
| Cover for Conditions Developed on Old Policy | Yes, continues as before. | Yes, cover is matched. No new waiting periods for these. | Yes, cover continues under the existing moratorium rules. |
| Cover for Pre-Existing Conditions (from before any PMI) | Excluded (unless moratorium period has passed). | Same exclusions are carried over from the old policy. | Same moratorium rules apply; the 2-year clock doesn't reset. |
| Medical Declaration Required? | No (at renewal). | No, just your old policy certificate. | No. |
| Main Advantage | Easiest option, no paperwork. | Can access better prices/benefits while keeping full cover continuity. | Can access better prices/benefits; good if you haven't claimed. |
| Main Disadvantage | Often the most expensive option due to high renewal premiums. | Can be complex; requires careful handling by a broker. | Not all insurers offer it, and less certainty than CPME. |
Common Pitfalls to Avoid When Switching PMI
Switching can be straightforward, but a few common mistakes can trip you up.
- Cancelling Too Soon: As mentioned, never cancel your old policy before the new one is confirmed and active. A gap in cover means any new condition that arises in that gap will be considered pre-existing by your new insurer.
- Not Being Honest: When applying on switch terms, you need to provide your old certificate. Don't be tempted to start afresh with a new moratorium policy if you have developed conditions, as they will then be excluded for at least two years.
- Misunderstanding the Excess: Make sure the excess on your new policy is comparable to your old one. A much lower premium might be because of a much higher excess (£1,000 vs £250, for example).
- Ignoring the Hospital List: Check that the hospitals you would want to use are included in the new provider's list. Some cheaper policies have a more restricted network.
- Forgetting about Renewals: Don't just "set and forget". Review your cover every year. With the NHS waiting list in England remaining over 7.5 million in 2024, having the right PMI is more valuable than ever. An annual review with your broker is a smart move.
Beyond the Policy: Added Value and Wellness Benefits
The best PMI provider for you isn't just about hospital treatment. Insurers are increasingly competing on the wellness benefits and added value they offer. When switching, look out for:
- Digital GP Services: 24/7 access to a GP via phone or video call is now a standard feature and incredibly useful.
- Mental Health Support: Many policies now include access to therapy sessions, counselling hotlines, and mental wellbeing apps without affecting your main policy limits.
- Wellness Programmes: Some insurers offer discounts on gym memberships, fitness trackers, and healthy food to encourage a healthier lifestyle.
- Broker-Specific Benefits: Choosing the right broker can also unlock extra perks. At WeCovr, for example, our PMI and Life Insurance clients get complimentary access to our AI-powered nutrition and calorie tracking app, CalorieHero, to support their health goals. We also offer discounts on other types of insurance, helping you save money across the board.
These benefits can significantly enhance the value of your policy and help you stay healthy, potentially reducing the need to claim in the first place.
Real-Life Scenarios: Switching PMI in Practice
Let's look at two examples to see how this works.
Scenario 1: David, 55 - Switching on CPME Terms
- Situation: David has had a policy with Insurer A for 10 years. His renewal premium has increased by 25%. Two years ago, he was diagnosed with a heart condition that is now stable but required initial investigations covered by his PMI.
- Action: David contacts WeCovr. We find a policy with Insurer B that has similar benefits but is £40 a month cheaper.
- Process: We handle the application on CPME terms. We provide Insurer B with David's policy certificate from Insurer A.
- Outcome: Insurer B issues a new policy. It explicitly states that it will cover eligible acute flare-ups of David's heart condition on the same basis as his old policy. He saves £480 a year and keeps his crucial cover in place.
Scenario 2: Sarah, 42 - Switching on Continued Moratorium Terms
- Situation: Sarah has had a moratorium policy with Insurer C for three years. She hasn't claimed at all. Her renewal quote seems high.
- Action: Sarah uses a comparison service and finds a cheaper policy with Insurer D that offers a better digital GP service.
- Process: She applies to Insurer D on a Continued Moratorium basis.
- Outcome: Insurer D takes her on. Her original moratorium "clock" continues to tick. Any conditions she had before starting with Insurer C are still subject to the original moratorium rules, but she hasn't lost any ground. She now has a cheaper policy with better day-to-day benefits.
Frequently Asked Questions (FAQ)
Do I need a new medical check-up to switch my health insurance?
No, you almost never need a medical examination to switch. If you move on 'Continued Personal Medical Exclusions' (CPME) or 'Continued Moratorium' terms, the new insurer bases their decision on your previous policy's information. This is one of the main advantages of using these switching methods.
Will my private medical insurance premium go up if I have claimed?
Yes, it is very likely. Your claims history is a key factor insurers use to calculate your renewal premium, alongside your age and medical inflation. If you have made a claim, your renewal price will usually increase. However, this does not mean you cannot switch. A broker can still compare the market to see if another provider's renewal price, even with your claims history factored in, is more competitive.
What happens if I switch and then need to claim straight away?
If you have switched correctly on continuous cover terms (CPME), you will be able to claim straight away for any new, eligible acute condition. You will also be able to claim for any condition that was previously covered by your old policy. The principle of 'continuous cover' means you do not face new initial waiting periods for conditions you were already protected for.
Can I switch to a policy with better benefits, like more outpatient cover?
Absolutely. This is a common reason to switch. You can move to a policy with a higher level of cover, such as increasing your outpatient limit from £500 to £1,500 or adding therapies cover. Your underwriting (how your pre-existing conditions are treated) will be transferred on a like-for-like basis, but you will benefit from the enhanced cover levels for all future eligible claims.
Get Your Free, No-Obligation PMI Comparison Quote
Switching your private medical insurance doesn't have to mean losing your hard-earned benefits. With the right advice and the correct process, you can secure better value and more suitable cover while ensuring full protection for your ongoing health needs.
The UK health insurance market is competitive, but navigating it alone can be risky. Let the experts help.
Contact WeCovr today for a free, no-obligation quote. Our FCA-authorised team will compare the market for you, explain your options in plain English, and help you switch with confidence.
Related guides
Why private medical insurance and how does it work?
What is Private Medical Insurance?
Private medical insurance (PMI) is a type of health insurance that provides access to private healthcare services in the UK. It covers the cost of private medical treatment, allowing you to bypass NHS waiting lists and receive faster, more convenient care.How does it work?
Private medical insurance works by paying for your private healthcare costs. When you need treatment, you can choose to go private and your insurance will cover the costs, subject to your policy terms and conditions. This can include:• Private consultations with specialists
• Private hospital treatment and surgery
• Diagnostic tests and scans
• Physiotherapy and rehabilitation
• Mental health treatment
Your premium depends on factors like your age, health, occupation, and the level of cover you choose. Most policies offer different levels of cover, from basic to comprehensive, allowing you to tailor the policy to your needs and budget.
Questions to ask yourself regarding private medical insurance
Just ask yourself:👉 Are you concerned about NHS waiting times for treatment?
👉 Would you prefer to choose your own consultant and hospital?
👉 Do you want faster access to diagnostic tests and scans?
👉 Would you like private hospital accommodation and better food?
👉 Do you want to avoid the stress of NHS waiting lists?
Many people don't realise that private medical insurance is more affordable than they think, especially when you consider the value of faster treatment and better facilities. A great insurance policy can provide peace of mind and ensure you receive the care you need when you need it.
Benefits offered by private medical insurance
Private medical insurance provides numerous benefits that can significantly improve your healthcare experience and outcomes:Faster Access to Treatment
One of the biggest advantages is avoiding NHS waiting lists. While the NHS provides excellent care, waiting times can be lengthy. With private medical insurance, you can often receive treatment within days or weeks rather than months.
Choice of Consultant and Hospital
You can choose your preferred consultant and hospital, giving you more control over your healthcare journey. This is particularly important for complex treatments where you want a specific specialist.
Better Facilities and Accommodation
Private hospitals typically offer superior facilities, including private rooms, better food, and more comfortable surroundings. This can make your recovery more pleasant and potentially faster.
Advanced Treatments
Private medical insurance often covers treatments and medications not available on the NHS, giving you access to the latest medical advances and technologies.
Mental Health Support
Many policies include comprehensive mental health coverage, providing faster access to therapy and psychiatric care when needed.
Tax Benefits for Business Owners
If you're self-employed or a business owner, private medical insurance premiums can be tax-deductible, making it a cost-effective way to protect your health and your business.
Peace of Mind
Knowing you have access to private healthcare when you need it provides invaluable peace of mind, especially for those with ongoing health conditions or concerns about NHS capacity.
Private medical insurance is particularly valuable for those who want to take control of their healthcare journey and ensure they receive the best possible treatment when they need it most.
Important Fact!
There is no need to wait until the renewal of your current policy.
We can look at a more suitable option mid-term!
We can look at a more suitable option mid-term!
Why is it important to get private medical insurance early?
👉 Many people are very thankful that they had their private medical insurance cover in place before running into some serious health issues. Private medical insurance is as important as life insurance for protecting your family's finances.👉 We insure our cars, houses, and even our phones! Yet our health is the most precious thing we have.
Easily one of the most important insurance purchases an individual or family can make in their lifetime, the decision to buy private medical insurance can be made much simpler with the help of FCA-authorised advisers. They are the specialists who do the searching and analysis helping people choose between various types of private medical insurance policies available in the market, including different levels of cover and policy types most suitable to the client's individual circumstances.
It certainly won't do any harm if you speak with one of our experienced insurance experts who are passionate about advising people on financial matters related to private medical insurance and are keen to provide you with a free consultation.
You can discuss with them in detail what affordable private medical insurance plan for the necessary peace of mind they would recommend! WeCovr works with some of the best advisers in the market.
By tapping the button below, you can book a free call with them in less than 30 seconds right now:
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WeCovr is an insurance specialist for people valuing their peace of mind and a great service.👍 WeCovr will help you get your private medical insurance, life insurance, critical illness insurance and others in no time thanks to our wonderful super-friendly experts ready to assist you every step of the way.
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