Expatriate Medical Insurance Policy in Latin America
Here we are approaching the summer of 2009, while slowly saying adios to the H1N1/Swine Flu Virus pandemic in Mexico and other parts of the Americas. Now is the time millions of temporary and permanent globetrotters all over the world are ready to take an ambitious adventure. Many will take a cruise, some will relocate for business, others will just visit temporarily and many more will arrive to foreign lands for a permanent vacation…Retirement, aaaah!
[USPRwire, Sun Aug 30 2009] Here we are approaching the summer of 2009, while slowly saying adios to the H1N1/Swine Flu Virus pandemic in Mexico and other parts of the Americas. Now is the time millions of temporary and permanent globetrotters all over the world are ready to take an ambitious adventure. Many will take a cruise, some will relocate for business, others will just visit temporarily and many more will arrive to foreign lands for a permanent vacation…Retirement, aaaah!
Before you step outside your current country of citizenship and go abroad, there are several important issues other than packing you swimsuit and lotion, International Medical INSURANCE. What? Yes, those of you who go on short vacations and return can easily acquire an online inexpensive temporary travel policy for the exact time you will be gone, however; for those real Robinson Crusoe types, permanent private expatriate medical coverage is a must. So how do you start and how do you know what policy is best for you? This article will educate you enough to get onto the right track, so you are positioned to make an educated buying decision.
First, What quality companies are available to choose from? Being an International Insurance Specialist since 1992 has taught me to only offer Quality companies to my clients, so I will introduce you to the major individual private expatriate medical insurance players in the western hemisphere:
* Goodhealth/Aetna - www.goodhealthamericas.com
* Multinational Underwriters/Lloyds of London - www.mnui.com
* BUPA Latin America - www.bupalatinamerica.com
* International Medical Group - www.imglobal.com
* SRI – Sever Corners - www.sevencorners.com
Second, You need to shop and compare or find a competent insurance specialist that represents many different companies and knows the underwriting ropes within each one. A professional who can customize a proposal and suggest the best policy that would fits you and your family’s needs.
Let me show you what I mean. I have a family of four, the father is age 44, spouse age 42 and 2 children ages 8 & 9…all are healthy. Let’s compare:
Note: All Plans include USA/Canada coverage & Air Evacuation. BUPA Advantage Plan presented. Goodhealth/Aetna MHP Plan presented. MNUI Citizen Secure plan presented with a maternity & wellness benefit – automatically included. MNUI plan offers free coverage for up to 2 children under age of 9yrs-old.
MYTH: Many people believe that going directly to an online company and purchasing a policy will save them money? FALSE, the premium is the same, but the benefit of a qualified professional can be the difference between life and death!
Now let’s take a look at a different scenario: Female age 37 that has a pre-existing condition of non-chronic Endometriosis and occasionally suffers from cysts or fibroids.
Note: The same plans are presented as in the first example. Notice that the rate for Goodhealth/Aetna is lower, reason being Goodhealth/Aetna prices based upon unisex age only, not between male and female like most carriers. ALSO, MNUI wanted to put minimum 24 month exclusion on the clients’ condition, while BUPA would accept with a 20% increase of premium, while Goodhealth/Aetna would have accepted with no exclusions and no increase in premium.
MORAL: Find a qualified professional to work with. If you did not have a broker who could approach several companies at once with the same information in hand, you would have applied and been rejected or exclusions attached before a company would have accepted you. The major problem is time…it could take up to 30 days to get the answer back from an insurance company that they are willing to insure you with exclusions or outright reject you. You could be shopping for months and in the mean time open yourself and family up to a possible catastrophic issue that could possibly break the bank!
Third, Try to choose a company that allows, “Freedom to Choose” any doctor or hospital in the world. Many companies are beginning to develop International Networks, which is fine by me, however; when I’m forced to ONLY use those facilities…I begin to question that plan. BUPA Latin America and worldwide have successfully established this type of structure for their middle & lower tier plans …which I’m not really sold on…especially when premiums are quite expensive for the limitations that one must endure.
For more details>> http://www.expatglobalmedical.com/best-insurance-plan-usa.html
