IPMI
IMG Europe, an international private medical insurance (PMI) provider, is poised to launch a new international PMI product, which it hopes will close the gap between domestic and international PMI, writes Johanna Gornitzki.
The product, called GlobalSelect, is due to become available to customers worldwide in May. GlobalSelect will be fully portable within any area, including the client's home country. It has no moratorium underwriting, and provides cover for pre-existing conditions after 24 months of member-ship, subject to acceptance by IMG Europe.
It includes a choice of four plans, has three different currencies and nine excess levels. Cover for chronic conditions, HRT cover, legal expenses, compassionate home visits, vision contribution and newly diagnosed Aids/HIV will also be included. In addition, extensive dental and maternity cover will be available.
Commenting on the forthcoming launch, Stephen Walker, chairman at the Association of Medical Insurance Inter-mediaries, said the success of the product depends on whether it will be offering anything dif-ferent from what is currently available in the marketplace.
"There is always room for new products, but really good products should either be price competitive or have something new to offer," he said.
Walker also applauded IMG Europe's decision to make the PMI cover available for customers both when they are at home in the UK and when they live abroad.
"People with only international private medical insurance cover could be left high and dry if they return to the UK. This new product will cater for those people. Having said that, it will only be relevant to people with ongoing chronic problems. Otherwise, they could easily switch to a UK policy, which at most times will be less expensive," he added.
