In November, InterGlobal announced higher benefit levels for its UltraCare iPMI plans, especially for cancer, and in January it announced premiums will rise below medical inflation for the second successive year.
All plan overall limits have been raised for 2014, by between 50% and 135%. The UltraCare Comprehensive plan now has an annual limit of $4 million for example (highest is UltraCare Elite at $5 million and even the basic UltraCare Standard has a $1.5 million annual plan limit). In total there are four UltraCare plans (Standard, Select, Comprehensive and Elite) and clients can choose to add maternity, travel and personal accident cover at extra cost. Business customers have similar but not identical plans and options, all allowing scope to match needs to budgets.
All UltraCare plans now provide full cover for cancer, including cover for bone marrow transplants, treatment of cancers diagnosed as a chronic medical condition and palliative and end stage care. There is no excess on cancer cover.
Premiums for 2014 are generally up by 5% in all territories except China and Thailand. This is below the rate of medical cost inflation and InterGlobal said it expected its rises to be some of the lowest in the market. The company’s cost control measures include negotiated treatment tariffs for its members, an award winning in-house fraud prevention team and internal expense controls across all its operations.
What They Say
Group sales and marketing director Paul Weigall said: “At a time of continued soaring medical insurance costs around the world we have worked hard to deliver on our commitment to fair pricing for members. We have delivered low premium increases together with significant increases in the level of benefits for our members. In many areas of the world we are also able to offer our members year on year real savings in premiums. We believe our plans represent even better value in 2014, backed by our award winning levels of personal service.”
What We Say
"InterGlobal has updated its plans to offer more cover, comprehensive peace of mind cancer care and below (medical) inflation price rises.
"Our reviews normally ignore price to a large extent as competitiveness can vary considerably depending on client age, location and other factors and can, in any event, be changed by the insurer at very short notice. However, InterGlobal does look to have recognised that it needs to manage costs very carefully and evidence of that is in its last two years’ price rises.
"Cancer is also a key worry for many people. It can be argued that cancerless PMI plus critical illness cover may best meet a client’s cancer cover needs, but many clients will simply want the best possible cancer cover built into their PMI or iPMI plan.
"Overall, InterGlobal looks to have worked hard on its 2014 plans – and under its new Aetna ownership it will be important for it to continue that, albeit now with a very large international parent behind it.