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If you’re
an expatriate working overseas, or you have retired
overseas you need to consider what might happen if you or
your family fall ill, and the consequences can literally be
deadly without the right international and expatriate health
insurance.
In many
countries there isn’t any access to free medical treatment,
whilst in others you may have access to free medical
treatment but the level of care may not be up to the
standards you’re used to.
The
solution to this problem is international private medical insurance
(PMI), sometimes referred to as international and
expatriate health insurance. These are personal policies which will protect
you (and your family if required), and will offer more
comprehensive cover than similar policies in your home
country. The policies are typically, yearly renewable
policies, which means that the cover lasts for one year, and
you have the guaranteed option to renew it after one year
even if you have made a claim.
What can
be covered under international and expatriate health
insurance?
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Emergency and non-emergency treatment
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Cancer
treatment is covered in full
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Psychiatric conditions
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Surgery
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Consultant fees
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Hospital accommodation
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Hospice
and palliative care up
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Outpatient and inpatient treatment
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Maternity costs
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Family
doctor (GP) treatment
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Dental
treatment
-
24 hour
telephone help lines
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Evacuation – moving you to another country for treatment
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Repatriation – sending you back to your home country for
treatment
What's
not covered?
All
companies will not cover what is known as chronic
conditions, and this generally means a disease or illness
which has no known cure, and is permanent, such as asthma
and diabetes. Although if your condition becomes acute then
you will be covered, e.g. asthma attack which requires
emergency treatment is covered.
Costs
The cost of
the cover depends on your age, the older you are the more it
is likely to cost. Providing cover for your family will
further increase the payment. Most companies do however
offer different levels of cover and different benefits, and
the more “whistles and bells” you add to the cover the more
expensive it becomes. A basic plan will be much cheaper than
comprehensive cover.
Reducing
the costs
It is
possible to reduce the cost of this type of cover by
agreeing in advance that you will pay a fixed amount towards
any claim. This is often referred to as an excess or more
commonly a deductible. This can vary from £100 to thousands
of pounds. The larger this deductible the lower premium.
Shopping
around to get the best rate
There are
lots of companies who offer international and expatriate
health insurance, many of which you won’t have even know. They
might not be household names in your home country, but the
chances are that they are household names in another
country.
Get an
expert to do the hard work for you!
If you’re
considering international private medical insurance to cover
you or your family, then an offshore international financial
advisers can research the market for you and get you the
best cover at the best price for you. Request a
free quote for international and expatriate health insurance
.
Remember
you’ll pay the same price going direct to the insurance
company or going through a specialist broker.
So if
you’re an expatriate, and want to know more about offshore
products or want to speak to an offshore
independent financial advisers,
then
contact us - free
and without obligation on +357 99 159 857 or
contact
us online.
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