International Health Insurance VUMI

[Etaoin Shrdlu]

58 minutes ago, nigelforbes said:

The following is not very reassuring:

 

https://www.wrlife.net/pdf_files/PARTICIPATIVE POLICY ENGLISH.pdf

 

 

That certainly describes an interesting approach to insurance. I think this is the first time I've seen an insurance broker issue "shares" to its clients. 

 

I would still wish to see details of the insurance company that actually bears the risk of loss under the policies that WR Life issues to its clients. 

[nigelforbes]

19 minutes ago, Etaoin Shrdlu said:

That certainly describes an interesting approach to insurance. I think this is the first time I've seen an insurance broker issue "shares" to its clients. 

 

I would still wish to see details of the insurance company that actually bears the risk of loss under the policies that WR Life issues to its clients. 

If it looks like a duck and it quacks like a duck......!

[jerrymahoney]

15 hours ago, nigelforbes said:

If it looks like a duck and it quacks like a duck......!

House of Lloyd('s) Ceramic Duck Figure Hand Painted Statue with Blue Bow Vintage 1980

 

 

[nigelforbes]

4 minutes ago, jerrymahoney said:

House of Lloyd('s) Ceramic Duck Figure Hand Painted Statue with Blue Bow Vintage 1980

 

 

Looks like an inflatable to me.

[jerrymahoney]

21 minutes ago, nigelforbes said:

Looks like an inflatable to me.

https://www.etsy.com/listing/1223220587/house-of-lloyd-ceramic-duck-figure-hand

 

Just to note that what I recently posted above is verbatim from websites. If you all want to offer your editorial opinions, up-to-you.

[Tubby]

On 12/18/2022 at 12:38 PM, Etaoin Shrdlu said:

That certainly describes an interesting approach to insurance. I think this is the first time I've seen an insurance broker issue "shares" to its clients. 

 

I would still wish to see details of the insurance company that actually bears the risk of loss under the policies that WR Life issues to its clients. 

interesting. 

[jerrymahoney]

On 12/9/2022 at 1:58 PM, scubascuba3 said:

Many people here seem to have the April Global (France) which you've not mentioned?

Bottom page 15:

 

https://fr.april-international.com/sites/france/files/2022-12/MyHealth International_Brochure_2023.pdf

 

This product is conceived and managed by APRIL International Care France and insured by Groupama Gan Vie (for the medical expenses cover) and by Chubb European Group SE (for the other covers).

 

https://www.groupama.com/en/our-business-activities/life-and-health-insurance/

 

[Etaoin Shrdlu]

17 hours ago, jerrymahoney said:

Bottom page 15:

 

https://fr.april-international.com/sites/france/files/2022-12/MyHealth International_Brochure_2023.pdf

 

This product is conceived and managed by APRIL International Care France and insured by Groupama Gan Vie (for the medical expenses cover) and by Chubb European Group SE (for the other covers).

 

https://www.groupama.com/en/our-business-activities/life-and-health-insurance/

 

Groupama Gan Vie is carries an A+ rating from Fitch:

 https://www.fitchratings.com/entity/groupama-gan-vie-88772891

 

This is equivalent to a Standard and Poor rating of A+.

https://www.moneyland.ch/en/rating-agencies

 

As for Chubb European Group SE, they received an "AA" rating from Standard & Poor.

https://www.chubb.com/uk-en/about-us-uk/europe-financial-information.html

 

Both firms have very good ratings from professional rating agencies, so this should satisfy those who care about their insurance companies' financial strength. Basically it means that they will likely be around and have the financial ability to pay claims in the future.

 

[jerrymahoney]

So Groupama is the medical underwriter for APRIL International Care France.

[scubascuba3]

1 hour ago, Etaoin Shrdlu said:

Groupama Gan Vie is carries an A+ rating from Fitch:

 https://www.fitchratings.com/entity/groupama-gan-vie-88772891

 

This is equivalent to a Standard and Poor rating of A+.

https://www.moneyland.ch/en/rating-agencies

 

As for Chubb European Group SE, they received an "AA" rating from Standard & Poor.

https://www.chubb.com/uk-en/about-us-uk/europe-financial-information.html

 

Both firms have very good ratings from professional rating agencies, so this should satisfy those who care about their insurance companies' financial strength. Basically it means that they will likely be around and have the financial ability to pay claims in the future.

 

Chubb seems to be a small player here, I've only seen it once for personal accident which wasn't good cover. Maybe that's the Thai company. I've not seen anyone post that they have Chubb health insurance 

[jerrymahoney]

12 minutes ago, scubascuba3 said:

Chubb seems to be a small player here, I've only seen it once for personal accident which wasn't good cover. Maybe that's the Thai company. I've not seen anyone post that they have Chubb health insurance 

The April statement linked said that Groupama is for 'medical expenses covers ' and Chubb is 'for the other covers' maybe things like repatriation and death benefit issues

[jerrymahoney]

Also the 'Chubb' in the April France link is Chubb European Group SE.

[Etaoin Shrdlu]

3 hours ago, scubascuba3 said:

Chubb seems to be a small player here, I've only seen it once for personal accident which wasn't good cover. Maybe that's the Thai company. I've not seen anyone post that they have Chubb health insurance 

Chubb used to be somewhat of a niche insurer in the US. They used to specialize in insurance for high net worth individuals that had things like art collections, expensive automobiles and expensive homes. They also were a player in things like professional indemnity covers and other somewhat specialized property and casualty insurance lines for companies. They tended to charge slightly higher premiums than mainstream insurers, but were very good about paying claims. Kind of the Tiffany's of the insurance world.

 

About seven or eight years ago, Chubb was purchased by ACE globally and I think, like all corporate mergers, the corporate culture of the acquiring company prevailed. I think Chubb has probably lost much of the allure that it may have had. It isn't surprising that ACE chose to use the Chubb name instead of its own and I think the Chubb of yore is gone. In my mind, Chubb was not associated with health insurance, but things may have changed after the ACE merger.

 

Chubb's local office struggled a bit back in the day due to its high underwriting standards and higher premiums. I think it remains a small player in the Thai market.

[blackshadow]

On 12/8/2022 at 6:01 PM, HampiK said:

Thailand is included...

it is in the list of restrictions.....i seen it there !!!

[KannikaP]

On 12/8/2022 at 6:01 PM, HampiK said:

Thailand is included...

Sorry, cover is RESTRICTED, whatever that may mean.

[jerrymahoney]

1 hour ago, Etaoin Shrdlu said:

In my mind, Chubb was not associated with health insurance, but things may have changed after the ACE merger.

However, again, from the April France brochure linked above, Groupama is the underwriter for medical expense covers and Chubb only underwrites other non-medical expenses covers.

 

These would likely include as on page 11 of the brochure:

 

Additional benefits for all-round
protection abroad

 

COMPREHENSIVE REPATRIATION ASSISTANCE AND PERSONAL LIABILITY (PRIVATE CAPACITY): 

 

DEATH AND TOTAL AND IRREVERSIBLE LOSS OF AUTONOMY LUMP SUM

 

INCOME REPLACEMENT DURING PERIODS OF SICK LEAVE FROM WORK

 

(their caps)

 

[Etaoin Shrdlu]

4 hours ago, jerrymahoney said:

However, again, from the April France brochure linked above, Groupama is the underwriter for medical expense covers and Chubb only underwrites other non-medical expenses covers.

 

These would likely include as on page 11 of the brochure:

 

Additional benefits for all-round
protection abroad

 

COMPREHENSIVE REPATRIATION ASSISTANCE AND PERSONAL LIABILITY (PRIVATE CAPACITY): 

 

DEATH AND TOTAL AND IRREVERSIBLE LOSS OF AUTONOMY LUMP SUM

 

INCOME REPLACEMENT DURING PERIODS OF SICK LEAVE FROM WORK

 

(their caps)

 

That makes sense.

 

I would then expect Groupama to issue medical insurance policies and Chubb to issue personal accident and travel policies based upon the information above. 

[HampiK]

12 hours ago, blackshadow said:

it is in the list of restrictions.....i seen it there !!!

 

12 hours ago, KannikaP said:

Sorry, cover is RESTRICTED, whatever that may mean.

 

So far I read it, you can choose worldwide, worldwide without US... or only the asian region. IN all the 3 option Thailand is included.

Asia area of cover restriction, mean it's not valid in China, Hongkong, Japan and South Korea. Even it's called Asia it's only for certain asian Countries, and it's not cover whole Asia as well..

But anyway, if I would change to VUMI, I would choose "Worldwide excluding USA" as this is the best option for me, as I still travel around. 

 

Quote

The policyholder can choose geographical area of cover restrictions as follows:
Any treatment received outside the geographic area of coverage is limited to the emergency non-elective treatment benefit.

• Worldwide including USA elective treatment

• Worldwide excluding USA

• Africa area of cover restriction
For insureds residing in Africa, the area of cover will be restricted to: Africa, India, Pakistan, Sri Lanka, Bangladesh, Jordan, Lebanon, Mainland China, and the Philippines.

•Asia area of cover restriction
For insureds residing in Armenia, Azerbaijan, Brunei, Cambodia, Georgia, Indonesia, Kazakhstan, Kyrgyzstan, Laos, Malaysia, Myanmar, Mongolia, the Philippines, Tajikistan, Thailand, Timor-Leste (East Timor), Turkey, Turkmenistan, Uzbekistan and Vietnam, the Asia area of cover restriction will include Singapore but exclude Mainland China, Hong Kong, Japan, and South Korea.

 

[timoti]

So VUMI worldwide is not true worldwide like April? It seems like that, even if you exclude USA, etc. For example VUMI excludes Singapore?

 

Otherwise the included OP seems good.

[revgreen]

Been using them for over a year and nothing but good experiences

[scubascuba3]

Just now, revgreen said:

Been using them for over a year and nothing but good experiences

what claims have you made?

[revgreen]

1 minute ago, scubascuba3 said:

what claims have you made?

A lot of basic stuff -- ear infections, covid medication, etc. Which would include nurses fees, medications, etc.

I did several months of physical therapy which entailed therapy plus specialist vists.

 

Several X-rays and 2 MRIs.

 

And currently planning a surgery on my ankle which is also covered.

Never had to pay anything out of pocket since I've been using them. Only complaint is that the first time using them at a new hospital can require some liaising between VUMI and the insurance dept to make sure the correct payment guarantees are sent over to establish direct billing.

[richard_smith237]

On 1/19/2023 at 7:32 PM, timoti said:

So VUMI worldwide is not true worldwide like April? It seems like that, even if you exclude USA, etc. For example VUMI excludes Singapore?

 

Otherwise the included OP seems good.

As with many insurance policies.. You can tailor your cover - but usually once you exclude the USA the difference in premium is not much. 

 

i.e.

- Full World Wide 

- World Wide Excl USA, Canada 

- World Wide Excl. USA, Canada, UK, Japan, Singapore 

- World Wide Excl. USA, Canada, UK, Europe, Japan, Singapore 

etc etc... 

 

 

 

[timoti]

On 5/23/2023 at 3:06 PM, richard_smith237 said:

As with many insurance policies.. You can tailor your cover - but usually once you exclude the USA the difference in premium is not much. 

 

i.e.

- Full World Wide 

- World Wide Excl USA, Canada 

- World Wide Excl. USA, Canada, UK, Japan, Singapore 

- World Wide Excl. USA, Canada, UK, Europe, Japan, Singapore 

etc etc... 

 

 

 

Oh ok that's interesting. It would be nice to compare all these 1 to 1, but April this year seem to remove cover limits in all countries except USA, Singapore, Japan. So before it was 1.5M for the one before the best plan, now it's unlimited. That's pretty good also.