Q: Are pre-existing conditions covered? What is a moratorium?

A: Some plans require that you complete a "Medical History Declaration" on the application. We cannot stress the importance of providing your complete medical details. This will prevent future questions or even a rejection of a claim. Most plans will require a 12 to 24 month waiting period prior to covering pre-existing conditions. Chronic conditions are rarely covered even after the 24 month waiting period.  Some insurers, however, may offer some initial coverage, please check with your advisor.

You may also choose to sign a moratorium, if one is available. In this case, you will not be required to provide any medical history but the insurance company may not cover any medical condition which has existed in the last 2-5 years. Such conditions may automatically become eligible for coverage only when you do not have symptoms, or receive treatment, medication, tests or advice from your general practitioner for that condition for a period of (usually) two years after your policy has been made effective.