Insurance is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. The insurer is the company that sells the insurance. The premium is the amount charged for a certain insurance coverage. See also Insurance Basics.
Private health insurance will often cover the cost of private medical treatments if the publicly-funded health programs do not pay for them. It will often result in quicker health care where better facilities are available.
International private health insurance provides cover not only limited to one country, but internationally, often with worldwide coverage or worldwide excluding certain regions.
One of the main reasons that make international insurance policies attractive is that they provide the benefit of coverage independent of place of residence or duration of stay in any particular country. It is often but not always more expensive than a local health insurance policy. Some international health plans also offer a restricted-area option for those who prefer to reduce their premiums in this way. A private, international health policy gives you the freedom to choose doctors and hospitals without being restricted by the health system in your country of residence.
The long-term benefits of an international private medical insurance almost always outweigh the costs. These benefits include:
- Complete, global coverage regardless of your place of residence, business travel, holidays, etc.
- Freedom to choose any specialists or hospitals worldwide
- Guaranteed lifetime renewal of the policy, regardless of age and state of health
- Private single room and individual treatment when admitted to hospital
International insurance cover – independent of country of residence
In many countries, mandatory basic health insurance cover is restricted to local residents. This is normally lost when they move abroad. They are left with a choice of finding another local insurer in their new country of residence or of turning to an international health insurer. While good local health insurance is available in many countries, it can be difficult to find a policy that permits a truly unrestricted choice of doctors and hospitals worldwide. An international insurance policy that provides such insurance cover irrespective of the period of stay in the respective country is sometimes more expensive than local insurance, but not necessarily.
Nevertheless, experience shows that the (often only slightly) higher cost of an international health insurance is more than balanced by its many advantages.
Wherever your life may take you, whatever you may do, only with good health insurance cover can you ensure that all your expenses are paid in the event of illness and an accident – anytime, anywhere.
Take out private health insurance as early in life as possible
Anyone over the age of 55 or who has health problems may find it difficult to find new health insurance cover. So it is already advisable to think about an international insurance policy at an early age before the first signs of age-related health problems begin to appear.
International private health insurance gives you
- Access to the world’s best doctors, hospitals and health care facilities
- Comprehensive cover, reliability and value for your money
- Premium payment in a variety of different currencies
- Direct payment between insurer and hospital for treatments received
- Emergency evacuation, medical family office facilities and 24 hour, multilingual accident intervention teams that can literally save your live
- Above all... true peace of mind