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India Network Health Insurance Program Announces Visitor Health Insurance Coverage to Canada, US, and Mexico Bound Visitors

India Network announced today that all policy holders of India Network Health Insurance programs would be automatically covered for accidents and medical problems during their travel from the home country to the United States, Canada or Mexico. Policy holders must purchase the insurance on or before they embark on their journey to avail this coverage. Typically, visitors traveling from India start the coverage one or two days before their arrival in the United States, Canada or Mexico to avail this benefit.

India Network offers comprehensive insurance plans that limit individual exposure by availing network negotiated rates for services and pay 80% for such covered service. The second set of plans are known as scheduled benefit plans or fixed benefit plans that reimburse policy holders or provides a predetermined amount for each covered service. A special feature of India Network Health Insurance programs is that they also cover pre-existing conditions for both inpatient services and outpatient services.

Dr. KV Rao, President, India Network Foundation, said that the travel insurance coverage is very important for visitors traveling to the United States or Canada. Recently, an elderly person insured by India Network Health Insurance was injured during travel. ACE American Insurance Company, the underwriter ofIndia Network programs is helping the policy holder just because they choose to purchase the plan covering the travel date.

Life Expectancy in India is slowly increasing. Life expectancy at birth for women was 67.7 years and it was 64.6 years for men. Longer post retirement time creates several health problems for elderly visitors. Several health conditions such as diabetes, blood pressure, etc. go undetected for years. India Network today offers plans to cover pre-existing conditions to help those elderly with medical conditions that they may or may not know. Many other insurance plans often reject any claims for these elderly visitors under pre-existing medical coverage exclusions.

India Network advises everyone traveling to the United States to take the best medical coverage. Only proper medical insurance with pre-existing conditions coverage can help visitors with any unexpected medical problems during their overseas stay. It is very important to understand the definitions and exclusions in various plans. India Network Health Insurance is the only that treats pre-existing conditions on par with new problems and accidents and premiums are bit higher than other plans due to this improved coverage.


Travel Warning Tunisia: Gunmen Attack 2 Tourist Hotels In Tunisia

Gunmen attacked the Imperial Hotel and Hotel Club Riu Bellevue at Port El Kantaoui, near Sousse, earlier today. 28 people have been reported killed and injured. A British Embassy crisis team is on its way to the area.

Some attackers may still be at large. Any British nationals in these hotels or nearby should remain indoors, and contact their tour operator and the Foreign Office on the hotline number below. For security reasons they should not advertise their location on social media or when speaking to journalists.

Two gunmen armed with Kalashnikov rifles reportedly penetrated a private beach area and opened fire.

FCO Hotline number: +44 (0)207 008 0000

The Foreign and Commonwealth Office (FCO) advise against all travel to:

  • the Chaambi Mountain National Park area
  • the Tunisia-Algeria border crossing points at Ghardimaou, Hazoua and Sakiet Sidi Youssef
  • the militarized zone south of, but not including, the towns of El Borma and Dhehiba
  • within 5km of the Libya border area from north of Dhehiba up to but not including the Ras Ajdir border crossing

The FCO advise against all but essential travel to:

  • areas south of, and including, the towns of Nefta, Douz, Médenine, Zarzis (including the Tunisia-Libya border crossing point at Ras Ajdir)
  • within 30km of the border with Algeria south of, and including, the town of Jendouba (this area includes the archaeological sites of Bulla Regia and Chemtou)
  • the governorate of Kasserine, including the town of Sbeitla

If you travel to the interior of Tunisia, you should do so with a reputable tour guide.

There is a high threat from terrorism, including kidnapping. Attacks could be indiscriminate, including in places visited by foreigners. 

A terrorist attack took place at the Bardo museum in the centre of Tunis on 18 March. A number of people were killed, including a British national. Further attacks are possible. You should be especially vigilant at this time and follow the advice of Tunisian security authorities and your tour operator.

424,707 British nationals visited Tunisia in 2014. Most British tourists stay in the coastal resorts and most visits are trouble free.

In the resort areas, the dress code is much like any European city or tourist area. In other parts of the country you should dress more modestly.

Take out comprehensive travel and medical insurance before travelling to Tunisia.


2015 Cost Of Living City Ranking: Luanda Is The Most Expensive City For Expatriates

Luanda, the capital of Angola, tops Mercer’s 2015 Cost of Living Rankings, and is the most expensive destination for expatriate employees in 2015. We ranked 207 cities worldwide based on a basket of goods and services frequently purchased by expatriates. Bishkek, Kyrgyzstan, has the lowest expatriate cost of living.

Just as foreign exchange costs create headwinds for many multinational organizations, currency fluctuations – driven by economic and political unrest – are contributing to the cost of expatriate packages for those on the front line of globalization of their organizations. Mercer’s 21st annual Cost of Living Survey finds that factors including instability of housing markets and inflation for goods and services impacts significantly the overall cost of doing business in a global environment.

“As the global economy has become increasingly interconnected, close to 75% of multinational organizations are expecting long-term expatriate assignments to remain stable or increase over the next two years to address business needs,” said Ilya Bonic, Senior Partner and President of Mercer’s Talent business. “Sending employees abroad is necessary to compete in markets and for critical talent, and employers need a reliable and accurate reflection of the cost to their bottom line.” 

According to Mercer’s 2015 Cost of Living Survey, Asian and European cities – particularly Hong Kong (2), Zurich (3), Singapore (4), and Geneva (5) – top the list of most expensive cities for expatriates. The costliest city for the third consecutive year is Luanda (1), the capital of Angola. Despite being recognized as a relatively inexpensive city, the cost of imported goods and safe living conditions in this country are available at a steep price.

Other cities appearing in the top 10 of Mercer’s costliest cities for expatriates are Shanghai (6), Beijing (7), and Seoul (8) in Asia; Bern (9); and N’Djamena (10). The world’s least expensive cities for expatriates, according to Mercer’s survey, are Bishkek (207), Windhoek (206), and Karachi (205).

Mercer's authoritative survey is one of the world’s most comprehensive, and is designed to help multinational companies and governments determine compensation allowances for their expatriate employees. New York is used as the base city, and all cities are compared against it. Currency movements are measured against the US dollar.

The survey includes 207 cities across five continents and measures the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods, and entertainment.

Aligning workforce and mobility strategies by ensuring the right employees are in the right places is more critical than ever to manage globalization,” said Mr. Bonic. “Properly compensating employees on international assignments is as important as it is costly.

According to Mr. Bonic, this is especially important for emerging mobility programs with smaller pools of candidates and higher business needs for sending employees on international assignments. It is essential that these organizations have accurate and transparent data as they consider how to compensate fairly and in line with market demands.

The Americas

Cities in the United States climbed dramatically in the cost of living ranking due to the strengthening of the US dollar against other major currencies. While New York (16), the highest-ranked city in the region, remained the same as last year, cities on the West Coast, including Los Angeles (36) and Seattle (106) climbed 26 and 47 places, respectively. Among other major US cities, Chicago (42) moved up 43 places, Washington, DC (50) moved up 42 places, Honolulu (52) moved up 45 places, and Houston (92) moved up 51 places. Cleveland (133) and Winston Salem (157) were among the less expensive cities in the US surveyed for expatriates.

Nathalie Constantin-Métral, Principal at Mercer with responsibility for compiling the survey ranking, said, “The sweeping rise in the rankings of US cities this year is due unquestionably to the strength of the US dollar compared to the other currencies around the world.

In South America, Buenos Aires (19) climbed 67 places to rank as the costliest city this year due to a strong price increase for goods and services. The Argentina capital and financial hub is followed by São Paolo (40) and Rio de Janeiro (67). Other cities in South America that rose on the list of costliest cities for expatriates include Santiago (70) and Managua (199). Caracas in Venezuela has been excluded from the ranking due to the complex currency situation; its ranking would have varied greatly depending on the official exchange rate selected.

Canadian cities dropped in this year’s ranking with the country’s highest-ranked city, Vancouver (119), falling 23 places. Toronto (126) dropped 25 spots, while Montreal (140) and Calgary (146) fell 17 and 21 spots, respectively. “The Canadian dollar continues to weaken against the US dollar, triggering major slips in this year’s ranking,” explained Ms. Constantin-Métral.

Europe, the Middle East, and Africa

Three European cities exist in the list of top 10 most expensive cities for expatriates. Zurich (3), the most costly European city, is followed by Geneva (5) and Bern (9). Switzerland remains one of the most expensive locations for expatriates due to the surge of the Swiss franc against the EUR. In looking again at the movement of the CHF against USD, the USD actually strengthened against the CHF, and not the opposite. Moscow (50) and St. Petersburg (152) dropped 41 and 117 spots, respectively, as a result of Russia’s ruble losing significant value against the US dollar, lower oil prices, and a lack of confidence in the currency following Western sanctions over the crisis in Ukraine.

Aside from cities in the United Kingdom, Western European cities dropped in the rankings mainly due to the weakening of local currencies against the US dollar. While London (12) remained steady, Aberdeen (82) and Birmingham (80) rose in the ranking. Paris (46), Vienna (56), and Rome (59) fell in the ranking by 19, 24, and 28 spots, respectively. The German cities of Munich (87), Frankfurt (98), and Berlin (106) dropped significantly as did Dusseldorf (114) and Hamburg (124).

Despite moderate price increases in most of the European cities, European currencies have weakened against the US dollar which pushed most Western European cities down in the ranking,” explained Ms. Constantin-Métral. “Additionally, other factors like the Eurozone’s economy, falling interest rates, and increasing unemployment have impacted these cities.”

As a result of local currencies depreciating against the US dollar, most cities in Eastern and Central Europe fell in the ranking, as well. Prague (142), Budapest (170), and Minsk (200) dropped 50, 35, and 9 spots, respectively, despite stable accommodations in these locations.

Tel Aviv (18) continues to be the most expensive city in the Middle East for expatriates, followed by Dubai (23), Abu Dhabi (33), and Beirut (44), which have all climbed in this year’s ranking. Jeddah (151) continues to be the least expensive city in the region despite rising 24 places. “Many currencies in the Middle East are pegged to the US dollar, which pushed the cities up in the ranking. Steep increase for expatriate rental accommodations particularly in Abu Dhabi and Dubai also contributed to the increase of the cities in the ranking,” said Ms. Constantin-Métral.

Several cities in Africa continue to rank among the most expensive, reflecting high living costs and high prices of goods for expatriates. Luanda (1) remains the most costly city in Africa and globally, followed by N’Djamena (10), Victoria (17), and Libreville (30). Despite climbing 5 spots, Cape Town (200) in South Africa continues to rank as the least expensive city in the region reflecting the weak South African rand against the US dollar.

Asia Pacific

Five of the top 10 cities in this year’s ranking are in Asia. Hong Kong (2) is the most expensive city as a result of its currency pegged to the US dollar and driving up the cost of living locally. This global financial center is followed by Singapore (4), Shanghai (6), Beijing (7), and Seoul (8) – all climbing in the ranking with the exception of Singapore which remained steady. Tokyo (11) dropped four places.

Japanese cities have continued to drop in the ranking this year as a result of the Japanese yen weakening against the US dollar,” said Ms. Constantin-Métral. “However, Chinese cities jumped in the ranking due to the strengthening of the Chinese yuan along with the high costs of expatriate consumer goods.

Australian cities have continued to fall in the ranking due to the depreciation of the local currency against the US dollar. Sydney (31), Australia’s most expensive city for expatriates dropped 5 places in the ranking along with Melbourne (47) and Perth (48) which fell 14 and 11 spots, respectively.

India’s most expensive city, Mumbai (74), climbed 66 places in the ranking due to its rapid economic growth,  inflation on the goods and services basket, and a stable currency against the US dollar. This most populous city in India is followed by New Delhi (132) and Chennai (157) which rose in the ranking by 25 and 28 spots, respectively. Bangalore (183) and Kolkata (193), the least expensive Indian cities, climbed in the ranking, as well.

Elsewhere in Asia, Bangkok (45) jumped 43 places from last year. Hanoi (86) and Jakarta (99) also rose in the ranking, up 45 and 20 places, respectively. Karachi (205) and Bishkek (207) remain the region’s least expensive cities for expatriates.

Mercer produces individual cost of living and rental accommodation cost reports for each city surveyed.



High Growth And Wider Product Offering Spurs Expatriate Group Rebrand

Expatriate Healthcare has rebranded as Expatriate Group to reflect the fact that the fast-growing business has significantly expanded the range of products it offers to its international clients.

London-based Expatriate was founded in 2003 to offer healthcare insurance for expats. As a result of growing demand from clients for other products, the company now also offers term life insurance, travel insurance and income replacement insurance.

In financial year 2013-2014, Expatriate recorded a 128% increase in new customers, and for the first quarter of 2015, new policy purchases have increased by 206% compared to Q1 2014.

“As a result of growing demand from our clients for products other than healthcare, we have had to expand our lines of business,” said Expatriate Group Manager Lee Gerry. “Our clients have been really happy with the products and standards of service we deliver and they have been asking us to provide them with further products to support their lifestyles overseas.

“Since 2013, as many clients have been finding us for non-healthcare products as for healthcare, which is extremely pleasing.”

He said that the change of name to Expatriate Group reflected the company’s aim to become a “one stop shop” for expats and companies with an international presence, providing them with all the financial protection products they require.

Mr. Gerry added that Expatriate Group will consider launching a further range of products for expats within the next 12 months. 

About Expatriate Group

Expatriate Group provides medical healthcare, as well as Life, Travel and Income Replacement, that is designed solely for expatriates. All plans are created by experienced expatriate underwriters. The policies are comprehensive and easy-to-understand, and backed up 24 hours a day by a friendly medical team. London-based Expatriate Group provides health insurance to 103 nationalities in 151 countries, representing 77% of the countries in the world.

For further information on Expatriate Group, visit





How K&R Risks Relate To Everyday Business

Since 2001, the threats associated with international organizations have changed, growing each year. Some dangerous hotspots are exhaustively covered in the news, such as the Middle East or Somalia, but others might be unexpected. Kidnappings can and do occur everywhere—no country is completely safe. The Americas accounted for 21% of foreigner kidnappings in 2014, predominately in Mexico. Some criminal organizations use kidnappings as a source of revenue. While foreigner kidnappings typically get all the press, both foreigners and your national staff are at risk in these types of attacks.

Although some companies believe that this is only a risk for large corporations, but all businesses, universities, and nonprofits are at risk. “Organizations need to realize that once employees are on the ground working in the emerging markets their risks of a kidnapping related event has increased” says Kevin Pedone, a producer for Clements Worldwide. Ensuring employees understand the potential exposures of working overseas is the responsibility of the employer. Some recent cases of kidnappings have included:

  • A global charity CEO’s daughter was kidnapped. When no ransom demand was received, a PR firm was hired to publicize the missing girl and she was recovered with the help of local authorities after 2 weeks.  
  • The president of a U.S. university was kidnapped while traveling to Southeast Asia. It took several months to negotiate his release. His salary was continuously paid to his family while other costs to the university included ransom and medical expenses.
  • The executive director of a commercial construction firm in Mexico was kidnapped with a ransom demand sent almost immediately. A hired consultant was able to quickly negotiate terms and he was released within 2 days. “Companies need to have a plan to deal with these types of issues and consider the legal and monetary consequences that can ensue”, says Pedone.

How Do You Possibly Prepare for Kidnappings?

Many HR managers worry about scaring employees. “In reality, it is their duty of care to provide proper training to their employees about the risks abroad,” said Pedone. Making sure HR is armed with up-to-date information about the region where staff is posted or traveling to is crucial. Employees need to know if they are travelling to a high risk zone for kidnapping because it allows them to increase their own awareness. In the end, duty of care is a shared responsibility between the employee and the employer; however, the employer needs to initiate the training.  

A full fledge kidnap for ransom is not an average occurrence. In most parts of the world it is considered low risk, but the costs can be catastrophic. Express kidnappings are more prevalent in some regions of the world, so employees should understand this risk. Express kidnappings are kidnappings where the employee is picked up by what they believe to be a taxi and then forcefully taken to multiple ATMs at gunpoint to withdraw funds.

Giving your employees tips on scheduling car services from reputable hotels, never taking a cab from off the street, and never walking alone at night can help to mitigate the most common risks associated with kidnappings.    

When you are sending employees to some of these higher risk environments, organizations need to consider the business cost to the organization. “Self-insuring is not the best option when it comes to any size organization. The larger companies have larger lawsuits because they have bigger pockets and the smaller companies can’t afford a lawsuit because it could bankrupt the organization,” explained Pedone. The cost of dealing with an event of this nature can easily be in the hundreds of thousands of dollars…even before a ransom is paid. 

All this information should be part of your risk management plan for addressing kidnappings, but most organizations lack the knowledge or skills to start putting together such a plan. This is where a crisis management firm comes in – they can help do an initial assessment and provide resources to monitor risky areas, where your employees travel.  Kidnap & Ransom insurance policies will often cover consultation pre-event with a crisis management firm.  

What do K&R Policies Actually Cover?

“Why buy kidnap and ransom insurance? Many people have the misconception that kidnap and ransom insurance is just about funding a ransom payment, but it is much more than that,” said Pedone.  A policy provides tools and services for dealing with the situation before, during, and after.”

Kidnap and Ransom coverage may provide access to an online portal that provides up-to-date information on the political environment of a country where you have business. This will help keep you informed so that you can set up evacuations if necessary, and possibly avoid having employees kidnapped and held for ransom.

K&R policies also give you access to crisis response specialists to help deal with the event as a whole. These specialists, usually former military or FBI professionals, can give you training and advice on developing an educational program for employees.  Their most important function is to manage a kidnapping situation, usually on-site.  These experts have dealt with kidnappings hundreds of times and have the expertise necessary to deal with the situation including direct negotiations with kidnappers and exchanges, but also dealing with local authorities, the press, and the family.  

If money needs to change hands, the team can take care of the drop-off. Drop-offs can be dangerous or complicated, so professional experience is essential. For instance, in the event of piracy you may need to drop the money off on a ship, requiring the use of a helicopter. Sadly, not all of these situations end with a happy outcome (see chart below), but at least your company will know it exercised its duty of care for its employees. 

Items to Consider When Looking at a K&R Policy

“Not all K&R policies are the same. Make sure you have a checklist of your needs when researching a policy,” said Pedone. 

Key questions to consider:

  • Does the policy include express kidnappings? As described above, express kidnappings may be more common than kidnap for ransom cases in some areas, but still very emotionally damaging for employees.
  • Would the policy adequately cover everyone who supports the organization – such as national employees, volunteers, and consultants?  Ensure you have a complete list of who needs to be covered when negotiating a policy and what is the definition of an insured person in your policy.
  • Do you need add-ons such as Business Interruption, or Political Evacuation and Salary Continuation insurance? When key employees are not there to manage the business, the business will suffer. Also, many of these events happen in areas prone to civil unrest. To ensure the safety of all employees, an evacuation provision under a kidnap and ransom policy can save money and provide critical coverage. Ensure your policy does not require you to wait for your government to issue the order, but instead can allow an embedded crisis response company to make that decision. If you wait for a government order, your employees may already be in undue danger.

Next Steps

For the safety of your organization and your employees, it is important to follow these three steps:

  1. Develop an emergency plan for your organization.
  2. Provide your employees with the proper training.
  3. Document the training for future learnings. 

For more information on kidnap & ransom policies, reach out to Clements Worldwide for a free consultation. 

This article was written based on a recent conference presentation by Kevin Pedone of Clements Worldwide. To receive a copy of the presentation, please reach out to This email address is being protected from spambots. You need JavaScript enabled to view it..


ALC Health Renews Advertising Deal With International Private Medical Insurance Magazine Until 2016

International Private Medical Insurance Magazine is proud to announce that ALC Health, a leading provider of international medical insurance, has renewed its advertising agreement to run all the way until January 2016.

One of the original supporters of International Private Medical Insurance Magazine, à la carte healthcare (ALC Health) is an award winning international medical insurer who for over 10 years has been protecting the health of private clients, companies and organisations across the globe. The company continues to grow and develop on a philosophy of ensuring that every policyholder whether as a private individual or a member of a corporate group is assured of the highest level of personal service and support.



Healix Acquires Capita Global Assistance

Healix International, a global leader in international medical, security and travel assistance services has announced its intention to acquire Capita Global Assistance.

Capita Global Assistance provides worldwide medical and travel assistance to business and leisure travellers for its impressive portfolio of clients.

Scott Sunderman, Group CEO of Healix International explained, “The acquisition is a natural fit for Healix as it builds upon our existing strengths in the global travel risk management market and supports our ambitious growth plans.

“We pride ourselves on service excellence and the high quality of medical care provided by a team of critical care nurses, doctors and specialist consultants. All are highly experienced in international healthcare delivery and aviation medicine and are backed up globally by our extensive, independent network of primary and secondary healthcare facilities.

“The expertise and dedication of our staff have been key to Healix’s success and we look forward to welcoming employees from Capita Global Assistance to our skilled team and enrolling them in the Healix family.”

Scott Sunderman remarked, “We have the infrastructure in place to successfully integrate this business with exceptional staff, bespoke systems, a highly valued global network providing on the ground support and an enviable track record of service excellence with our existing client base of multinational corporations, insurers, government departments and NGO’s.

“The acquisition of Capita Global Assistance is a feather in our cap and a boost to our growth plans and we are looking forward to welcoming new staff and clients to the Healix experience.”

About Healix International

Healix International is a global leader in international medical, security and travel assistance services.  Working on behalf of multinational corporations, governments, NGO’s and insurers, we are relied upon to look after the welfare of millions of expatriates, business travellers and local nationals living and working in every country of the world, 24 hours a day.

Many of these people reside in the most remote, challenging and hostile of environments.  Last year, we responded to over 450,000 requests for medical assistance globally, managed over 35,000 acute in-patient cases in over 160 countries, and conducted over 2,200 aero-medical evacuations from over 110 countries.

To find out more about Healix International visit their micro website on iPMI Magazine, click here now.



Cigna Global Health Benefits Appoints Javier Cano European Managing Director

Cigna (NYSE: CI) has named Javier Cano as Managing Director of its Global Health Benefits business in Europe to ensure the growing number of globally mobile customers benefit from Cigna's global capabilities and local expertise. 

Cigna Global Health Benefits is a leading provider of group healthcare and employee benefits solutions for globally mobile employees of small, medium and large businesses, multinational corporates and IGOs/NGOs. We are a truly international organisation with operations in more than 30 countries and over 50 years of experience. Currently, Cigna provides global health care insurance benefits and related services to more than one million customers worldwide. 

Javier joined Cigna in 2006 as Business Development Director for the Spanish business. In 2010 he launched Cigna’s Individual PMI business in Europe, building new direct channels alongside established intermediary distribution. Javier then became Spain Country Manager for Cigna in 2011 where he has successfully grown the business across the individual, domestic and global benefits’ segments. He will continue to lead Cigna’s business in Spain as part of his new role.

While Javier continues to be based in Madrid, he leads a team operating across Europe with key operational hubs in UK, Belgium and Spain.

Javier commented, “I’m delighted to bring together Cigna’s resources in Europe at a time when global mobility and demand for health benefits are both increasing. There’s no doubt that global mobility has an important part to play in economic growth. And I’m confident that Cigna is well-positioned to support the different global health benefits needs of employers across Europe.”

Cigna Global Health Benefits is part of Cigna, a US-based global health service company, dedicated to helping the people we serve improve their health, well-being and sense of security. To learn more please visit  and 


AIG Opens New Shared Services Center In Sofia, Bulgaria

American International Group, Inc. (AIG) have officially opened a new Shared Services Centre (SSC) in Sofia, Bulgaria, during a grand opening ceremony attended by Peter D. Hancock, President and Chief Executive Officer of AIG, and Meglena Kuneva, Deputy Prime Minister of the Republic of Bulgaria.

The centre will support AIG’s insurance operations in 17 countries across Europe with Claims, Policy Servicing, Accounts Receivable, and Travel Assistance services.

“This is a significant day for AIG, for our customers, and for our employees,” said Mr. Hancock. “Opening this new centre in Sofia, which will play an important part in our European operations, affirms our strong commitment to Bulgaria. In addition, we also plan to continue expanding our commercial insurance activities here.”

AIG currently employs 350 people in Bulgaria, 98 percent of whom are university graduates, and all speak at least one other language. By the end of 2015, AIG plans to increase staff numbers in Bulgaria to approximately 500.

“This is an exciting time for all of us in Bulgaria,” said Venislav Iotov, General Manager of AIG for Bulgaria and Romania. “AIG’s investment creates excellent employment opportunities at one of the largest global insurers.”

Also attending today’s ribbon-cutting ceremony and grand opening were senior representatives of the Bulgarian government, including Vladimir Tudjarov, Secretary-General,Ministry of Economy; Mr. Stamen Yanev, Executive Director of InvestBulgaria Agency; and Mrs.Ralitsa Agayn-Guri, Vice Chairman of the Financial Supervision Commission. Also present were Mr. Bruce Burton, Deputy Chief of Mission in the Embassy of the United States inBulgaria, and Mr. Thomas Bruns, Commercial Counselor in the Embassy of the United Statesin Bulgaria.


ACE Life Launches Three New Flexible Insurance Products

ACE Life, the global life insurance division of ACE Group, today announced the launch of three new products - ACE Accident Guard Plan, ACE Golden Touch Saver Plan II and ACE Golden Touch ULife Plan II in Hong Kong. The three new products reflect ACE Life's focus on providing customers with more flexible insurance solutions to help build a secure and successful future.

ACE Accident Guard Plan is a comprehensive personal accident insurance plan with triple indemnity, which is rare in the market, for flight accidents. Plane crashes are making the news more frequently and this plan offers customers peace of mind with a one-stop solution, with a fixed premium payment period as short as 10 years for accident protection for themselves and their loved ones. Customers can enjoy comprehensive protection against total and permanent disability as well as accidental death and accidental dismemberment including also major burns and insanity.

In addition, ACE Life has also revamped its universal life plans, namely the ACE Golden Touch Saver Plan II and ACE Golden Touch ULife Plan II, to offer flexible solutions for life protection and wealth accumulation. Customers can receive a super bonus of up to 6% of one year's basic premium upon any successful application for a designated ACE Golden Touch Saver Plan II from now until 30 June, 2015.

The ACE Accident Guard Plan and ACE Golden Touch Saver Plan II, together with the ACE Golden Touch ULife Plan II, offer comprehensive benefits, with the following features:

ACE Accident Guard Plan Product Highlights:

  • Payment period as short as 10 years covering lifetime protection for accidental death up to the age of 100, and accidental dismemberment, total and permanent disability up to the age of 75
  • Triple Indemnity will be offered in the event of death or dismemberment due to accidents whilst travelling as a fare-paying passenger on any scheduled commercial airline
  • Cash benefit will be paid upon non-accidental death, surrender or maturity starting from the end of the 3rd year policy
  • Worldwide emergency assistance services cover provision of medical evacuation and repatriation when travelling outside one's country of residence

ACE Golden Touch Saver Plan II Product Highlights:

  • Customers could receive crediting interest compounded daily and special Interest which will be credited every 5 years starting from the 10th policy anniversary and on policy maturity
  • Flexible premium payment options of 5/10/20 years for selection, with an extra bonus offered every 5 years upon the 10th policy anniversary onwards
  • A minimum interest rate of 3% per annum will apply with regard to the account value payable upon policy surrender, maturity or insured's death when the policy has run for 12 years or more
  • Flexibility to exercise annuity option to receive a fixed monthly income up to the age 105 or death, whichever is earlier

ACE Golden Touch ULife Plan II Product Highlights:

  • Customers could receive crediting interest compounded daily and special Interest every 5 years starting from the 15th policy anniversary and on policy maturity
  • Customers can enjoy an extra bonus of 3%/4%/5% at the 10th/15th/20th policy anniversary and every 5 years thereafter
  • A minimum interest rate of 3% annually will apply with regard to the account value payable upon policy surrender, maturity or insured's when the policy has run for 12 years or more
  • Flexibility to make optional unscheduled contributions on top of regular payments of the basic premium of protection-oriented option

Ms. Diana Kwan, Chief Partnership & Marketing Officer of ACE Life in Hong Kong, said, "Changes or mishaps can happen when you least expect them. As a result, we are committed to developing and enhancing our products so that they provide customers with the most comprehensive protection to cope with loss of life or money resulting from accidents. With a fixed premium period as short as 10 years, we offer accident plans for up to the age of 100 to protect customers throughout their lives. Our two universal life plans are designed to help customers fulfill their protection needs and grow their accumulated wealth at attractive returns with greater flexibility to meet their changing needs at different life stages."




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Expatriate Health Insurance

Compare Expatriate Health and Medical Insurance Plans, Coverage, Quotes and Companies, with iPMI Magazine. iPMIM represents leading providers of expat medical, health and travel insurance plans. Find the right and most appropriate Expatriate Health Insurance for overseas travel, global mobility and relocation