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Our 2019 international health insurance premiums explained

We work hard at William Russell to keep your premiums steady. Over our 25-year history we have gained a reputation for sustainable pricing and keeping premium increases to a minimum.

From 2010-2017 our average premium increase has been 7.8%.

However, with a rising incidence of high-cost cancer claims, an increased demand for quality healthcare and the escalating cost of health care, it is inevitable that insurance premiums have to rise to keep pace, to ensure we can continue to offer cover when you need it most.

Medicine costs alone are predicted to rise 6.5% in 2019. Add to this, the global average inflation of 3.36% , increases in demand for access to healthcare2, a rapidly growing middle class who demand high quality, private healthcare2, a global ageing population2, increase in long term lifestyle associated conditions2 and an overall increase in plan benefit utilisation1, it is inevitable that insurance premiums will increase.

We are committed to providing affordable international health insurance, without compromise.

For 2019 our average premium increase is 8.5%.

If your premium has increased more than this, then it may be for one or more of the reasons below

Your country of residence

You live in a country where healthcare costs are particularly expensive, or you wish to receive treatment in a country where healthcare costs are particularly expensive e.g. Hong Kong, China, Singapore, Dubai.

If you live in Hong Kong

Medical costs in Hong Kong are very high, and accordingly we have increased our premiums in Hong Kong by more than the average for 2019.

We have introduced a new, Low Claims Bonus for eligible customers in Hong Kong, which offers a 15% premium discount.

 

New areas of cover for 2019

Our Areas of Cover are simplified for 2019, and depending on what country you live in, and which Area of Cover Zone you have chosen, your premium may increase, as well as decrease.

If you’d like to learn more about our 2019 Areas of Cover, please read more here.

Your chosen excess level

We offer a number of excess levels and frequencies for you to shape your plan around you. The higher the excess level you choose, the lower your premium will be. Please note that for some excess levels, e.g. $250 per annum, $1,600 per claim, the level of discount has been reduced to become more in line with the insurance market.

Here are the excess options available from 2019:

Per claim excess in US$ Per annum excess in US$
Nil* Nil*
50* 250* (no longer available for new customers)
100 500
800 1,000
1,600 2,500
5,000 5,000
10,000 10,000

 

*Not available in Hong Kong

You have entered a new age bracket

If your premium has gone up more than you were expecting, please review our age brackets below, as it may well be that following a birthday you are in a new price bracket.

 

Our age brackets
18-24 25-29 30-34 35-39 40-44 45-49 50-54
55-59 60-64 65-69 70-74* 75-79* 80-84*

 

 

 

*renewals only

Regulation & Taxes

In the past 12 months, governments around the world have increased regulatory requirements, introduced mandatory product specifications (e.g. maternity requirements in Dubai), and introduced new taxes (e.g. Hong Kong Levy, new VAT in Dubai). Your premium will include any local or regulatory charges that may apply.

Additional child discounts

We continue to offer competitive additional child discounts.

We have reduced the level of discount available on our second and third plus child plans.

What you can do to reduce your premium

If you are concerned about your premium increase, there are a number of ways that you can decrease your premiums, whilst still enjoying the cover you need.

Consider a different plan

Consider what healthcare cover you actually need. You may be able to switch to a different plan type with fewer benefits.

Please see our 2019 plan selection here: Health InsuranceLife Insurance and Income Protection.

Increase your excess

Increasing your excess can reduce your premium. We offer a range of excess options, from nil excess and $50 per claim to $10,000 per annum.

Please note that for residents of Hong Kong there is a minimum $100 per claim excess.

Consider a restricted area of cover

If your country of residence is in Africa, the Indian Subcontinent or South East Asia, a restricted cover zone is available, and will reduce your premium.

If you are interested in switching your cover from worldwide to restricted, please contact us to find out more.

Review your optional benefits

Please consider which optional benefits you continue to include, and only pay for only what you need.

Pay your premiums annually

You can save 5% on your premium by switching from monthly payments to one annual payment.

Savings are also available if you switch from paying semi-annually or quarterly to one annual payment.

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[1] Internal William Russell data
[2]PwC Medical Cost trend report 2018
[3]https://www.statista.com/statistics/256598/global-inflation-rate-compared-to-previous-year/
[4]Internal William Russell data