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