Corporate expat life and IP launch aimed at SMEs
International private medical insurance specialist William Russell has launched two new corporate expatriate life and income protection (IP) products. The plans, GlobalLife and GlobalProtection, are aimed at small and medium-sized firms with different underwriting for each.
For small firms, of three to 19 people, the plan offers cover of $100,000 of life benefit and $36,000 annual disability benefit without medical underwriting. The cover starts immediately on receipt of the corporate and employee application forms. Premiums are discounted by 10% for groups of 10 to 19 employees. Applications for cover in excess of these limits will be individually underwritten.
James Cooper, sales director at William Russell, said: "Companies with expatriate employees need to be able to set up protection plans for their employees quickly and easily - that is why we have streamlined the application process for our new small group schemes."
For companies with 20 plus expatriate employees the plans offer simplified administration, no employee application forms and instant cover. On completion of the corporate application form all employees actively at work on the commencement date are covered without individual medical underwriting.
Cooper added: "We understand how difficult it can be for companies with employees around the world to arrange for individual application forms to be completed for every member of staff.... That's why we removed the need for any individual applications and medical underwriting.
"Our plans provide expatriates with the level of flexibility and international cover they need."
