5 Reasons to Use a Specialist Health Insurance Broker

In the digital age, comparison websites may seem to be the best place to look for the best deal in a variety of products, such as plane tickets. Even insurers have ventured in this area, with products such as car and home insurance being available for comparison.

When it comes to private medical insurance though, comparison sites have not yet overtaken the private medical insurance sector. This week, we explain the main reasons why expats and UK residents may find easier to use a health specialist broker.

1. Ease

Using a specialist broker can make it easy for expats and UK residents. The sheer complexity of the product on offer is one of the main reasons why comparison sites do not currently provide much value in this area. 

Insurers do not have the same level of cover across the same countries. They are also likely to consider each client differently given their medical history or any that they might have pre-existing conditions. The complexities multiply even further when it comes to corporate cover and group schemes. Insurers may offer discounts and special deals to win the day. 

2. Speed

Given the wide level of choice available, finding the right private health insurance product can be time-consuming and frustrating. Since specialist brokers are used to the intricacies of private medical insurance and know the market, they are able to offer impartial, one-to-one advice based on clients' specific needs in much shorter time.

3. Customer service

Brokers place a huge importance on customer care. They do not only provide assistance to find the most suitable policy, they also offer help with paperwork as part of their service. This is specially useful when expats are based somewhere remote.

4. Less financial risk

The complexity of the product may also lead to the poor, but common decision of not buying any insurance or not taking out the most suitable policy. With the costs of healthcare on the increase globally, this would not be the best option for expats.

Take the position of a resident in any country around the world who has enjoyed free social security and is starting work abroad as an expat. They may not know the actual costs of medical treatment abroad. For example, in Hong Kong a fractured ankle can cost you £12,000. So, the search is well-worth it.

Also, it is worth pointing out that private health insurance is becoming compulsory for expatriates in some countries around the world.

5. Peace of mind

It can be hard for expats living and working away from home. Knowing that you are covered for any health related issues can ease the burden of living abroad. 

This is particularly important in the case of any unexpected events, such as road accidents, which are common in developing countries. Pollution-related health issues are also common in some countries.

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