New medical conditions are covered up to the financial limit in a Lifetime policy. If the limit is reached during the insurance year, the cover stops until the policy is renewed.
When you renew the policy, the limit is fully reinstated and the condition will continue to be covered by the policy the following year.
This differs from ‘Max Benefit’ and ‘Accident Only’ policies. In Max Benefit policies, once the financial limit is reached the condition becomes ‘pre-existing’ and is excluded from future cover.
Accident Only insurance, as the name suggests covers you only for the costs of vet bills in the event of an accident within the 12 month policy period.