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Expat Investor : December 2008
HEALTHCARE reform.Ifexpats find that regulatory changes result in restrictions being placed on their access to state healthcare, the key question they must consider is how would they cope if they or their family fell ill or had an accident? Would they be able to meet the financial costs of the treatment required? The alternative is to investigate private medical insurance options, which can provide a welcome safeguard against costly medical treatment. 2009 is also, of course, going to be about the credit crunch. From our customer research, we know that almost three-quarters of expats are concerned about the economic downturn and, in particular, the negative impact of currency fluctuations, with the value of the British pound falling by 17 per cent against the euro since the start of 2007, for example. In the year ahead the onus will be on international health insurance providers to help customers on tightening budgets. We need to ensure they remain well covered internationally for healthcare at a price that works for them, even if this means adjusting their cover back to what they consider to be the essentials. Those providers which offer products that can be tailored in this way will clearly have the competitive edge. But even in these challenging economic times our customers know they won’t be stung for a large medical bill should they fall ill abroad, as their health insurance can cover the cost of all their drugs, treatment and hospital fees – and even bring them back home if this is needed. This peace of mind, for many, is priceless. International employers are also becoming increasingly aware that international private medical insurance is a key consideration when sending expatriates on assignment overseas. With these factors in mind, IPMI providers have been evolving their products and benefits solutions in order to differentiate themselves in the marketplace and provide clients with peace of mind whilst living or working abroad. The importance of living a healthy lifestyle and taking preventative measures to reduce the risk of illness has turned wellness into a standard benefit requirement for international insurance policies. Previously, wellness benefits were considered a unique benefit for some IPMI providers. Today, it is expected that wellness is automatically included as a benefit and has almost become a standard benefit across the industry. Increase in crime, war and terrorism, political uncertainty and adverse security risks have been key topics in the media. In recent Continued on page 16 Because nothing in the world matters more than each other AXA PPP healthcare brings you great British health cover. Wherever you live in the world Your health is everything. So it pays to take the best possible care of it. Whether you’re a resident expatriate or a local national – working, travelling or retired – our International Health Plans bring priceless peace of mind. We’ll give you prompt access to private medical treatment, a choice of hospitals, emergency evacuation or repatriation, and many more benefits. We even have an English-speaking health information line – on call for you, 24/7. With over 35 years’ of international experience, and over 2 million customers in the UK and worldwide, you can trust AXA PPP healthcare to protect the health of those you care for. Join now – and get up to two months cover, completely free. all +44(0)1892 550814 quoting reference EI5555 or visit www.axappphealthcare.co.uk/expat_investor All claims will be assessed against the terms and conditions of the chosen product and any individual exclusions placed on your policy at joining. PETER ROUSSEAU, Group Business Development Director, InterGlobal 2008 has seen continued growth in the international private medical insurance (IPMI) market. Global mobility is becoming more common place and more people are moving overseas for a new life abroad to live, work or retire. Authorised and regulated by the Financial Services Authority. © AXA PPP healthcare 2008 Lines are open from 8am to 8pm Monday to Friday and 9am to 1pm Saturday (UK time). Calls may be recorded. Fast Facts 10007 December 2008 ? EXPAT INVESTOR 15
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