Expacare has launched a new individual international private medical insurance (IPMI) product featuring a modular approach to benefits and lifestyle rewards for policyholders.
The individual Choices product has a flexible approach to benefits and includes standard cover for medical evacuation and in-patient treatment with variable levels of out-patient treatment.
Policyholders can also elect to include additional modular benefits for cancer and chronic conditions, maternity cover and dental, wellness and optical options.
The plan has six different excess options which will give a discount between 5-40% of the premium.
It is also fully medically underwritten which links in with disclosure legislation that came out in April of this year. Expacare said it was important for clients to know what they will and won't be covered for instead of finding out at the point of claim.
Expacare has also introduced "Lifestyle Rewards" which gives policyholders the opportunity to reduce their insurance premium as a reward for leading a healthy lifestyle.
In addition, by not smoking, drinking responsibly and exercising regularly, individuals could receive up to a 25% discount.
Beverly Cook, managing director of Expacare said: "The feedback we've had is people want to buy the elements of the plan they think they're going to need. Last year we launched our Choices plan for groups, so when we were looking at launching a flexible and modular plan for individuals and families, we used that as the basis for doing so.
"I'm excited as the lifestyle reward element is new for IPMI insurers. There is something similar in the domestic PMI market. I think brokers will like this as a useful technique to help them sell the policy and everybody is looking at new ways to make sales other than price. Wellness is important."
The launch of the product also coincides with new Expacare research which found accessing good quality healthcare is a top concern for people working abroad, with a quarter (26%) envisaging returning to the UK if they suffered ill health for overseas.
One in six (14%) thought their travel insurance policy would provide sufficient health cover for a business placement overseas. A third (34%) of the sample were unsure what cover they needed before heading abroad and 35% wanted more information about the options available.
