AIG Expatriate Care
AIG has launched an individual version of its Expatriate Care international private medical insurance (iPMI) plan. AIG has partnered with European medical plan administrator Henner to provide what it calls a ‘truly global expatriate programme that offers superior medical care and straightforward administration’. That includes access to Henner’s network of more than 35,000 medical providers in more than 160 countries, with discounts and direct billing arrangements available. Where the customer is in a unique location, they may request that a local provider be added too.
Customers also have access to Medical Second Opinion, which provides an additional consultation with an international specialist following an initial diagnosis from a local doctor. There is also access to MyHealthPortal, a free virtual health clinic providing access to British based medical support and information. A dedicated team of UK nurses is available 24/7 by phone, webcam and SMS messaging. Political and medical evacuations are provided by AIG Travel, from seven assistance centres worldwide.
The plan is fully scalable and available to organisations of all sizes, with previous medical history disregarded from schemes of just five employees.
The plan itself offers core cover that includes medical expenses (up to £2.5m per person per year); medical evacuation and assistance; political evacuation up to £50K; third party liability up to £1m; legal assistance up to £15K, and pregnancy cover. Optionally, routine vision and dental cover can be added (up to £3K each person), plus personal property up to £50K. The plan is designed to cover 100% of medical bills, with direct settlement where possible.
The upper age limit for enrolment is 65, with benefits stopping at age 75.
Comment: AIG’s new plan looks to offer straightforward cover for the many expats who have little or no medical cover. Research by researchandmarkets.com suggests there were more than 50m expats worldwide in 2014 and that by 2020 this will have increased to 60m. AIG estimates that around a third of all expats have no international health insurance. Home Office stats show more than 13m British citizens currently live abroad, with over 5m of those on a permanent basis. In other words – this is a huge and growing market.
The focus of the plan is on providing practical help and value, with add-ons including personal property cover – suggesting that the lack of insurance extends well beyond medical cover. Tying in with a network makes life easy, although some may argue that free choice of provider is important to them, even if it means cost can be higher.
There are more comprehensive plans with more options on the market, but this plan should appeal to organisations which recognise the need for insurance but want a value package that provides practical help and options when needed.
Plus points: Scalable straightforward iPMI cover that focuses on ease of operation and good support; Options include personal property insurance as well as routine vision and dental; Access to Henner’s network, with the ability to add providers if in a unique location.
Not so plus points: Few options; Maximum annual benefit £2.5m; Some competitors offer more benefits.
Website: http://www.aig.co.uk.
Rating (max 10): Innovation: 8. Overall: 7.5. Silver
Tags: iPMI; AIG