Medical and Life Cover

Introduction

When travelling or living overseas, it is surprising how many countries exist where medical treatment of a reasonable standard is just not available or is available but expensive.

Many cases each year result in a crippling experience both mentally, physically and financially. It is a generally undisputed fact that over half of all expatriates abroad have no medical insurance at all making them vulnerable to the consequences of any health crisis.

Private Medical Insurance is like having a parachute when flying, you may not need it but it had better be there, as you and your family may not survive without it.

What about the costs?

Just because the plan is the most expensive does not mean it will give you all the best benefits. Always take the time to check the benefits of cover, the level of cover and any exclusions on cover the plan has. Exclusions should always also be read carefully.

Questions to ask?

• Does the Plan allow for cooling off periods, cancellation and repayment in full?
• Does the insurer offer a 24hour International Help line contact, available globally?
• Does the Plan require a medical before joining?
• How long are pre-existing conditions excluded from cover when joining the Plan?
• Are all nationalities accepted?
• Does the Plan allow you to continue cover throughout your life time?
• Does the insurer allow you and your Doctor freedom of choice concerning hospitals where you may be treated?
• Does the Provider allow for direct settlement of bills to hospitals in full settlement of any in patient treatment claims, regardless of location?
• What is the procedure for outpatient claims? Does the Insurer pre-authorise claims or do you have to pay first and hope that your claim is paid later?

Evacuation and Repatriation .

• Does the plan include evacuation and repatriation?
• Does such cover include both emergency evacuation and repatriation costs?
• Does the plan cover both your outward journey and pay for you to return to where you started your journey?
• Does the plan cater for one person?
• Does your intended plan include or exclude pre-existing conditions? If medical questions are not required you can be sure that any pre-existing conditions are excluded for a period of time. Check how far back the Insurer goes to exclude pre-existing conditions? Often plans will allow for pre- existing conditions to come under the plan in later years if you have been treatment free for a period of time and not consulted a doctor regarding the previous illness. Check carefully.

GP Costs/Out Patient Charges

• You need to confirm that General Practitioners' charges are fully reimbursed.
• Check wording carefully concerning outpatient costs cover and GP charges.
• Check to see if any drugs, medicines or financial limits are set for Out-patient treatments to ensure 'full cover'.

Outpatient Cover, Complementary Medicine, Dental and Routine Maternity

• If you can afford the premiums, Out-patient cover makes sense as often specialist care comes into this category.
• Dental cover can also be a minefield as Plans treat dental pain differently from routine dental cover.

Complementary Care

• More insurers are taking an enlightened approach to holistic or alternative approaches to healthcare, allowing plans that include such as chiropractic, osteopaths, homeopaths and acupuncturists, subject to a budget limit per annum.

Maternity Care

• Pregnant women often only contact an insurer when already pregnant. Almost all insurers will treat this as a pre-existing condition and routine maternity cover will not be offered for such ongoing pregnancies, but emergency will be.

Other cost/cover inclusions

• Does the plan include compassionate return home leave costs, for example a close family member's death?
• Does your Plan include home country cover? For example, you may be covered in Asia but not back home.
• Do you have the right geographical area of cover?
• If you have an accident involving third parties, are any legal costs covered?

Complaints

• All Plans should offer clear complaints procedures and show how to contact the right adjudicators. Your adviser will usually assist you. There are also independent regulatory authorities in most countries who can assist in a dispute.

In summary

In general the more you pay the better and more comprehensive cover the plan offers.

MONTPELIER recommend you compare several plans and have a review of your medical insurance needs with your MONTPELIER adviser. The insurer's information pack needs careful reading. Understand what you are committing to, what the contract actually states and what its limitations and geographical area encompass.

Link to : Can You Afford To Be Without Life Cover
Link to : How to pic ‘n’ mix your health insurance

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