A medically underwritten health and dental insurance plan is often considered a 'standard' option in health insurance. The key feature of this plan is its 'medically underwritten' nature. This means that when you apply, you'll need to complete a medical questionnaire. Based on this information, the insurance company may also request your medical records from your physician to thoroughly assess your health status. This evaluation is a critical step in determining your eligibility and the terms of your coverage.
Like all health insurance plans, the primary purpose of a medically underwritten plan is to supplement your provincial government health care plan. It covers costs for health and dental services that are not included in your provincial coverage, thereby reducing your out-of-pocket expenses for these services.
Medically underwritten plans are often more cost-effective compared to other types of health insurance plans, offering more comprehensive benefits for each dollar spent. However, they typically exclude coverage for any pre-existing medical conditions. This exclusion is a significant consideration and underscores the advantage of obtaining such a plan earlier in life, when you are likely to have fewer health issues and a less extensive medical history. This proactive approach can ensure broader coverage and better value from your health insurance plan.
- A self-employed individual who needs to provide health benefits for themselves and their family.
- An individual who has little to no health history (i.e. few if any 'pre-existing conditions')
- An individual who is comfortable with their existing health conditions (if any) being excluded, but wishes to have a robust plan for everything else.
- Prescription drugs
- Dental visits
- Paramedical services
- Vision care
Speak with a professional advisor who can help.
There are a number of factors that can affect plan pricing, including:
Generally, insurance cost less for younger age groups, and more for older age groups
Plan cost will vary depending on the number of people covered.
Plan cost can vary from one province/territory to the next.
Plans that include more benefits and higher coverage amounts come at a higher cost.
Talk to an advisor who can understand your situation, answer your questions and help you build an insurance plan appropriate for you and your family.