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Transferring providers
If you have a current PMI Plan but wish to change
to another insurer (maybe to save money, receive additional
cover or simply to escape from bad service) then it
is possible to ensure that you receive a plan on "no
worse terms" - this is known in the trade as a CPME
plan, a good professional adviser specialising in this
area should be able to help.
This simply means that the underwriting company of
the new plan, will accept offering you cover on the
same terms as the previous plan. If you have had claims
and particularly exclusions from cover, these too will
be carried forward or considered by the new insurer.
This CPME transfer method allows for continuity of cover,
particularly if you are presently undergoing treatment
or have had treatment in the recent past and are concerned
as to a re-occurrence of such a medical problem.
For example, if your company previously had PPP cover
and you left and decided to take cover for yourself/family,
you may have found PPP's cover too expensive and discovered
that you could transfer your existing plan to Medisure
on a "no worse terms" or CPME basis. A word of caution
here, many sales people in the healthcare insurance
industry earn money from commission and may be tempted
to recommend change for change's sake - this is called
churning.
