Now Health International, the international private medical insurance provider, has introduced a flexible currency facility for customers in around 200 countries within Europe, the Americas, Africa and Asia Pacific. In future, policyholders will be given the choice of paying their premiums in US Dollars, Euros or Sterling.
The new arrangement is consistent with Now Health’s customer-centric policy of flexible global payments and includes a claims option allowing policyholders the choice of being reimbursed in virtually any currency. Whilst the market norm is for claims to be settled only in the currency in which premiums are paid, Now Health will pay out in over 130 currencies from the Albanian Lek to the Zambian Kwacha.
Tim Mutton explains: “Our response to currency flexibility for both premium and claims payments reflects directly the lifestyle demands of our customers. For instance, a UK national living in the Philippines could pay their premium in pounds. But, after making a claim whilst on holiday in Bali, he or she is free to choose for their claim settlement to be made in Philippine pesos, pounds, Indonesian rupiah or virtually any other currency depending on their needs at the time."
International health insurance news: 12 November 2011