Expatriates Could be Paying Too Much For International Private Medical Insurance

NEWCASTLE, October 2, 2013 /PRNewswire/ --

- Product Comparison Reveals Big Variations in Pricing

Research by one of the UK's leading specialist health insurance intermediaries, Medibroker (http://www.medibroker.com), has revealed that expatriates looking to buy international private medical insurance could be paying too much for their cover.

The study, undertaken in July 2013 compared a sample of the cover options open to expatriates in three different life-circumstances: young single male, couple with children and an older couple with no dependents.  The findings demonstrated large differences in premiums for similar levels of medical cover.

Using a random selection of quotations from over 30 insurance providers, the research found that premium levels could vary by as much as 600% for similar levels of cover.  Even after removing the highest and lowest quotations, the variation could still be as high as 200%.  The greatest difference was seen when cover included a North American treatment option for the single male profile.

"We wanted to demonstrate how risky it is for expatriates to research the international private medical insurance market themselves for cover." said Steve Nelson, sales manager of Medibroker. "Premium levels for similar risks can vary significantly.  The difference in our study was often over 300% but sometimes as much as 600% meaning expatriates could be paying a lot more for their cover than they need to."  

Editor Notes

Medibroker is an award-winning, independent broker, which specialises in providing international private health insurance to both the individuals and companies. Since its foundation in 1998, Medibroker, has been offering independent advice and support to expatriates of all nationalities, regardless of where they find themselves living.

Policies can be arranged to cover the full range of inpatient and outpatient costs, including evacuations, wellbeing benefits and complementary medicine. Medibroker gives clients access to policies from over 30 top insurers covering most major expatriate destinations. Medibroker advices both expats and UK residents based on their specific needs and provides tailored advice to ensure that clients have the best policies for their particular requirements and circumstances.

Medibroker is the trading name of APRIL Medibroker Limited, who are regulated in the United Kingdom by the Financial Conduct Authority, and follows the code of the Association of British Insurers (ABI). The regulated Firm number is 304773. Registered office: APRIL Medibroker Limited, Unit 4, Rake House Farm, Rake Lane, North Shields, Tyne & Wear, UK, NE29 8EQ.

For more information on Medibroker's international private health insurance broking services, please visit http://www.medibroker.com