A number of insurers are offering a transfer and continuation of health insurance cover for GBG members affected by GBG collapse.
In health insurance jargon, this is called Continuation of Cover (COC) transfer, or Continued Personal Medical Exclusions (CPME) transfer.
Whilst each insurer has their own definition and terms and conditions for a transfer, this essentially means the new insurer is offering to continue your cover, for any conditions you are currently covered for under GBG.
Who can benefit?
All current policy holders, including:
- individual policyholders
- family policyholders
- SME policyholders
- Corporate, schools and enterprises
- Government, NGO’s
Why transfer on COC or CPME terms?
COC and CPME transfers are beneficial to members who have been insured with GBG for a number of years, and in particular members who may be in the middle of treatment.
For example, if you are currently being treated for a broken leg, a COC or CPME transfer will allow you to continue your treatment and have the treatment paid for by the new insurer.
Whereas if you are to enrol in a new insurer without COC or CPME terms, your broken leg will be considered a pre existing condition, and the insurer will not cover the treatment costs.
What is needed for COC and CPME transfers?
The Continuation of Cover or CPME transfer terms are available to policyholders who meet the insurers criteria, which usually includes:
- Age Limit: All applicants must be under the age of 65 at the policy’s inception.
- Comparable Cover: The expiring and the required policy must have comparable cover. If you wish to upgrade your coverage, it will be subject to new underwriting.
- Confirmation: A copy of the expiring Certificate of Insurance/Schedule must be provided to confirm the underwriting terms applied by the previous carrier.
- No Coverage Gap: There must be no break in coverage between the cancellation of the previous policy and the transfer to Evolution Health.
How to get a quote and transfer?
COC and CPME transfers are technical, and require some finesse to get your insured correctly and confident of full transfer.
We suggest getting in touch to allow us to handhold you through the process.
As always, the insurers pay for our services. Our expert guidance and support is provided at no cost to you.
Simply click here to leave your details and we’ll be in touch. Or click here to schedule a zoom with our team.
