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By Allianz Worldwide Care | March 11, 2016
Level of Cover
One of the most important factors affecting the premium for an expatriate health insurance policy will be the level of coverage you choose. If you are willing to accept a lower limit on the maximum claim you can make, or less generous benefits such as accepting a semi-private room as opposed to a private room for a hospital stay, you can lower your annual payment while still ensuring you have access to quality healthcare. Our choice of four core plans, from Essential Individual to Premier Individual, make it easy for you to compare the level of benefits available to you and ensure you can make an informed decision.
Area of Cover
It may be the case that you do not require coverage in every part of the globe. We offer three different geographical areas for international health insurance cover; worldwide, worldwide excluding USA and Africa only. By only choosing those territories you will need healthcare in, you can keep your premiums down.
One way you can lower your international health insurance premium without affecting the level of coverage you receive is to take a voluntary deductible. With a voluntary deductible, in exchange for agreeing to bear some of the cost of your healthcare claims, the insurance company will offer you a discount on the premium you must pay. At Allianz Worldwide Care, we offer a range of deductible options from €450 for a 5% discount on your premium to €10,000 for a 60% discount. This is a great way to reduce your annual payment if you are willing to accept some healthcare expenses.
Choose a Cost Containment Expert
At Allianz Worldwide Care, we have implemented a number of cost containment practices to manage costs appropriately and make savings which we can pass on in our member’s premiums. There are plenty of factors which can influence the cost of a health insurance premium from year to year, such as increases in the cost of healthcare or the number of claims processed. However, these changes do not affect every insurer equally. Our client retention rate of 95% is a testament to these cost containment practices and service excellence.
The payment method you choose for your health insurance policy can also affect the premium as insurance companies will often reward you for paying your full annual premium up front. At Allianz Worldwide Care, premiums paid quarterly are generally 4% more expensive and can increase by 5% if you choose to pay monthly. By paying the full annual premium up front, you will get the level of healthcare you desire at the best possible price.
Global health insurance policies allow you to add a number of extras on to your plan to tailor the level of care offered to your family’s specific needs. Optional extras such as maternity plans, dental plans, out-patient plans or a repatriation plan offer great benefits and may suit the needs of many individuals and families.