Mike and his wife, Sandy, are both 54-years old. Mike recently retired from his £100,000 job as a European sales executive of a large firm. They are now looking to relocate to Spain, where they have bought a villa. They are planning to stay for the foreseeable future but may move back home if in need of care. Both are in good health, but Mike's family does have a history of prostate cancer, although he has shown no signs of having the condition himself. They are looking to buy private medical insurance. What are their options?
ANDREW WILSON, Medibroker International
Before advising Mike and Sandy on the 'best advice' products that would suit their needs, there are a number of areas that would need consideration before any recommendations can be made.
The couple's attitude towards exposure to medical costs would have to be assessed. This includes what level of benefits they are happy with, for example whether to include outpatient care, and whether they would consider employing a higher excess or deductible in order to reduce costs. It can also protect against more financially substantial claims, if living on a reduced income (as retired) is a concern.
Plans such as the Exeter Friendly InterPlan Euro, which costs between £134.06 and £335.36 per month depending on the level of cover chosen, and BUPA Sanitas HealthPlan Complete, which costs £282.44 per month, could be long-term, low cost options for expatriates in Spain.
Considering Mike's family medical history, a plan that covers not only acute episodes of chronic medical conditions that are diagnosed after a policy is purchased, but also the routine day-to-day care for that condition, may need investigation. A plan such as the GoodHealth Lifestyle Plan, at £460.00 to £737.36 per month depending on excess, may provide such benefits.
Looking at the long-term, should the couple return to the UK, then different assessments may need to be made. Will they still be entitled to any healthcare within the NHS? Will the medical insurance plan they buy cover them for long-term treatment if required in the UK, or will it cut off once they are classified as home country nationals? In terms of the portability of cover, it may be advisable for Mike and Sandy to look at plans from insurers that can either continue the existing plan, or transfer to a UK-orientated plan. Insurers such as BUPA, GoodHealth and Exeter Friendly could offer such long-term options.
ANTHONY CABRELLI, BUPA International
Given that Mike and Sandy hope to retire in Spain, I would suggest a BUPA International plan to cover their medical needs. This is particularly important as they are approaching a time in their lives when health becomes an increasing concern.
Mike and Sandy have a number of options available to them through BUPA International, so they would need to prioritise what services they are likely to need cover for and choose a plan accordingly.
A good option for Mike and Sandy is our annual BUPA Lifeline Classic policy, which starts at £118 each per month and covers an individual for up to £750,000 worth of emergency and non-emergency medical treatment per year. They would be covered for a wide range of in and outpatient services such as scans, cancer tests and drugs, up to £3,000 per year of therapist and consultant fees, mammograms, prostate and colon screening, as well as full hospital and ambulance cover.
Mike and Sandy will also have access to a multi-lingual helpline, 24-hours a day, 365 days a year, that offers medical and general healthcare advice such as information on inoculation and visa requirements, medical service, legal and embassy referral.
Many insurers make evacuation and repatriation integral to their product. But as Mike and Sandy are relocating to Spain, where they will have access to good medical treatment, this is an unnecessary element of cover, although it is advisable if they plan to travel regularly as their policy will cover them worldwide.
BUPA International also offers a range of excesses or deductibles on individual insurance products, which could save anything up to 41% off the standard premium depending on the level of cover chosen.
ANDREW APPS, International Goodhealth Worldwide (Europe)
For Mike and Sandy, now retired and possibly on a fixed income, this will inevitably mean that cost is going to be an important factor. Although Mike does not have a personal history of prostrate cancer, should the problem come to light in the future, it is important that he would be covered.
With outpatient services in Spain being relatively inexpensive, they may consider an in-patient only programme such as Goodhealth's Major Medical plan where annual premiums run at £2,526.
However, should they require more comprehensive cover they may choose to opt for Goodhealth's Foundation plan (£3,884 per year), which provides for both full refund inpatient and outpatient care including prescription drugs - an area often excluded under many international programmes. They could also opt for the Lifestyle plan (£5,051 per year) that provides all the elements of the Foundation plan but with the addition of chronic illness management covering both outpatient treatment and consultations. All these premiums may be paid on a monthly rather than an annual basis to help with their finances.
For both Mike and Sandy, acceptance would be subject to a two-year moratorium, but assuming they were previously covered through Mike's old firm, they may be eligible for a carry over of their past underwriting terms assuming that there has been no break in cover. Regardless of which option Mike and Sandy choose, each programme will allow them to return to the UK for any treatment with no loss of cover or benefit, something that can be particularly important when the support of family and friends is needed.
