What is a key factor when determining eligibility for a PMI product?

When determining eligibility for a Private Medical Insurance (PMI) product, the applicant's medical history and existing conditions play a crucial role. Insurers need to evaluate this information to assess the risk associated with the applicant. This assessment helps the insurer decide whether to offer coverage, what exclusions may apply, or if additional premiums are required due to pre-existing conditions.

Medical history provides essential insights into past health issues, ongoing treatments, and potential future health costs, which are all significant for underwriting decisions. Therefore, the focus on medical history ensures that both the insurer and the insured have a clear understanding of the coverage implications and any necessary limitations related to the individual’s health profile.

Other factors, such as income or employment status, may influence the type or amount of coverage someone can afford but are not central to eligibility determinations in the context of PMI. Similarly, while insurance brokers can facilitate the application process, they do not determine eligibility; instead, their role lies in assisting applicants to find suitable policies based on their unique needs and circumstances.