Client Insurance Product Library As at 10/09/2007
Page 33
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Ex Patriate To provide Health Insurance for Australians domiciled overseas.
Purpose Policy Divisions Settlement Level of cover Rating factors
Premium
There are many corporations who have employees and their families seconded overseas. This product guarantees their standard of Health Insurance is not compromised. Asset only Asset and/or Liability Liability only Yes Replacement New for Old No
No Indemnity (market Value) Yes
“Gold” – (broadest cover)
“Silver” (defined events)
“Bronze” (restricted)
No
Yes
No
Sums Insured, Number of singles, couples and families including accompanying children, Claims history, Occupation of Insured Person - nature of work including typical daily duties Medical Expenses total Sum $500,000 $1,000,000 Excess Options 1. $500 annual aggregate $2,000 Single $2,500 Single $4,000 Couple $5,000 Couple 2. $1,000 annual aggregate excess $1,750 Single $2,200 Single $3,500 Couple $4,400 Couple A $55.00 UW Policy Fee including GST is applicable. + Broker fee. No stamp duty or GST is payable. Children An additional 25% of the Single premium is payable for each accompanying child. Excess Situation $250
General
No
Within Australia
Accident & Health International can assist in evacuation of expatriates from areas where medical treatment is inadequate. We will pay to transport our clients to the nearest and most suitable facilities. We also guarantee acceptance into private Health Insurance once a client has returned to Australia following their period of secondment, without the normal waiting period. Expatriate Insurance is also available for individuals. Features • Emergency Evacuation • Health Fund extension when visiting Australia • Special Health fund access upon permanent return • Specified Ancillary Benefits • Emergency Assistance Network • Funeral or Mortal remains transportation (limit $10,000) Proviso’s • Subject to satisfactory proposals • Pre-existing conditions are excluded unless agreed to in writing. • A twelve-month waiting period applies to Pregnancy/Childbirth claims. Wording - This expatriate insurance provides broad and comprehensive medical expenses coverage. It includes cover for ancillary benefits such as optical and dental expenses in a similar fashion to an Australian Health Fund. However unlike an ordinary health fund we also cover the costs to evacuate someone (say via air ambulance) for a serious life threatening medical emergency if the treatment is unobtainable where they are expatriated. There are many other benefits as are the case with Heath Insurance – a policy wording is needed to view the full scale of benefits. (AHIU have 1 on their website)
Trivia
Rates can be pro rata to a min of 3 mths – a 10% loading may apply
DISCLAIMER This is not advice per se. The intention is to provide you with a brief introduction, it does not dismiss the need to review the matter with a qualified Professional representative. Copy of this library is on our website