issue 65 | april 2003 An informa publication
for all your
new products | Int’l medical cover
Goodhealth – International Health Plan
Contact Goodhealth on 0870 442 7376
This month’s reviews cover a wide range but all are primarily targeted at
businesses, writes technical editor Andy Couchman.
Standard Life Healthcare now offers the Vielife service for its corporate medical
insurance plans,adding a benefit that should appeal to employee and employer
alike.BCWA Healthcare has improved its dental insurance plan and looks set to
become a major player in this market.This month’s winner is Goodhealth.It has not Competitiveness and price:
only improved its plans,but rationalised and standardised them,added new geo- Premiums will vary by plan type, age band, geographic area and any options
graphic pricing bands and offers a £1m maximum annual benefit across the range. chosen.A range of excesses is also available.
Someone aged 35-39 living in Area 1 (Indian sub-continent, Middle East and
The company: Africa excluding Nigeria) would pay an annual premium of:
Goodhealth specialises in international medical insurance and was formed in Major Medical £413.00
1980. Part of the Primary Group, Goodhealth has offices in the Middle East, the Foundation £858.00
Far East, Bermuda and the US as well as in London.The group’s turnover was Lifestyle £991.00
almost £50m in 2001, when it made a profit before tax of £9.8m. Lifestyle Plus £1,219.00
The product: Literature:
Goodhealth has revised and updated its existing international medical The literature pack consists of a benefit schedule, brochure, question and
insurance products and introduced a number of changes: answer sheet, rate sheet and policy wording.
• The product range has been rationalised by dropping the previous Major
Medical Plus product, although this is still available on renewals. Commission:
• There are now five geographic areas rather than the traditional three.This means 15% a year.
that clients living in,say,Japan and the Middle East will pay different rates,reflect-
ing better the differences in medical costs in their respective regions.Goodhealth What they say:
says many people will now pay lower premiums as a result. Martin Garcia, MD of Goodhealth Worldwide, said:“As part of our continuing
• Products and pricing have been standardised in Goodhealth offices worldwide. review of our global services and products, we are delighted to introduce a
• The maximum annual benefit under all plans has been increased to £1m. much improved version of our flagship global policy, International Healthcare
• New benefits include: a hospital cash benefit for each night spent in hospital; Plan.These changes will enable intermediaries to offer their clients an even
newborn care now includes premature births; and passive war risk cover. broader range of healthcare protection benefits.This new development, com-
bined with our unique regional service facilities, really does deliver a strong
The four plans are: package for the expatriate market.”
Major Medical:This plan has limited out-patient cover (£1,000 a year per
medical condition) and excludes out-patient psychiatric treatment. Evacuation What we say:
extension back to country of choice is available as an option. Goodhealth has improved benefits, simplified and rationalised its product range
Foundation:As above but with full out-patient cover. and cut premiums for some clients. For intermediaries, that means a more
Lifestyle:As above but evacuation extension back to country of choice and chronic straightforward package to market with enough flexibility and options to meet
condition is included. most clients’ needs.That is important as each expat’s needs will be different, but
Lifestyle Plus:As above but includes full dental and childbirth cover. having easy-to-navigate benefit and plan options makes it relatively simple.We
also like the idea of more area pricing – something that we expect to grow further in
Additional options available (depending on plan type) are: the future,while passive war risk cover will be a valuable bonus for many expats.
• US elective treatment.
• Semi-private room, with premium reduction. Pros and cons:
• China private room restriction (applies in China only). Pros
• Direct settlement network. No excess on out-patient treatment in network • Improved benefits and a rationalised range of products with a range of options
hospitals. • Five geographic areas will mean cost savings for some clients
• Extended evacuation – back to country of choice. • Four worldwide claims centres
• Medical history disregarded.
• Extension to Lifestyle Plus. Removes dental waiting period, co-insurance on Cons
pregnancy benefits. • A wide range of options to understand
Cover is worldwide, and clients may choose to be treated in any hospital. • Five geographic areas may mean higher premiums for some clients
• Not as well known as the market leader
product of the month Health Insurance rating: 4 out of 5 ✔✔✔✔
22 HealthInsurance issue 65 | april 03