Status Global Insurance (SGI) have just launched their new brand ‘Status Medical Insurance Solutions’, alongside the unveiling of their new European Health Cash Plan product. The new brand will offer a range of Worldwide Medical Insurance Products to complement those already available from Status Global Insurance, with further expansion planned.
The Status Medical Insurance Solutions (SMIS) brand will focus on products designed to meet the health and wellness needs of expats and their families. They are currently only offering individual/couples/family plans, but plan to launch expat employee group plans for employers early in the new year. They will continue to grow their product offerings available under this new brand over the next few years.
While health cash plans may be common in the UK insurance market, they are not available throughout Europe; making SGI’s new ‘European Health Cash Plan’ the first product of its kind available to the European Economic Area (EEA).
“We are incredibly excited to be launching the first cash plan product available to the EEA,” says Ian Atkinson, Director at SGI, “But we have a long road ahead of us. As this is a brand new ‘type’ of product for this market we will be investing a lot of time and resources into educating European insurance brokers and the general public about the product.”
The European Health Cash Plan allows policy holders to claim back cash for certain everyday healthcare expenses that tend to be paid out-of-pocket, such as dental treatment or prescription eye glasses (which are typically not fully covered by national healthcare systems or private medical insurance).
It is very different to traditional private medical insurance, as it will help with small medical expenses you would normally have to pay yourself, but it won’t help if you are looking for expensive private medical treatment. The next difference you will find is that it is relatively easy to sign up for the European Health Cash Plan in comparison to traditional private medical insurance – the application process is straightforward and simple with no medical required and guaranteed acceptance. And finally, the last big difference is price – taking into account varying levels of cover – you will find the Cash Plan premiums to be significantly less expensive then private medical insurance premiums.
For more information about Status Medical Insurance Solutions or the European Health Cash Plan, please visit the new website: www.statusmedicalinsurance.com
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