What's the Difference Between iPMI and Travel Insurance?

Contributed by Expatriate Healthcare, 22 May, 2020

Life as a fledgling expat can be daunting. Not only is moving overseas difficult emotionally for many but it can also be logistically stressful. Fortunately, there are copious resources available to make transitioning to life abroad hassle-free and seamless.

One of the most pressing questions often asked is the difference between International Private Medical Insurance and travel insurance. This article will help decipher the two and understand the qualities of each type of policy.

What is travel insurance?

Travel insurance is typically used for shorter periods of time abroad, such as people who are away on business or have jetted somewhere nice for a holiday. Usually travel insurance isn't used for periods over six months. There are different types of travel insurance available such as annual travel insurance and business travel insurance. In general, however, all travel insurance policies tend to cover medical treatment and evacuation as basic cover, with lost baggage and cancellations amongst optional extras.

What is International Private Medical Insurance? Typically abbreviated to iPMI, International Private Medical Insurance is a comprehensive level of healthcare. Depending on the level of cover selected, those overseas can be covered for emergency medical treatment to maternity care, as well as non-medical costs such as transportation and repatriation. At Expatriate Group we offer three levels of iPMI designed completely with expats in mind.

Travel insurance does not present the same level of medical cover as iPMI. Expats who were to purchase travel insurance only would likely end up having to pay for their own treatment, which can be extremely expensive in some countries.

How to decide if you need iPMI or travel insurance?

As an expat it is critical to have the correct level of healthcare insurance to give you peace of mind whilst living overseas. iPMI is comprehensive in its coverage, meaning you won't have to pay for care, with some policies covering dental too. This is particularly important in countries that do not have a public healthcare system or up-to-date facilities available.

Below are a few statements to run by yourself should you be weighing up whether iPMI or travel insurance would best fit your needs:

Tags: Healthcare | Health Insurance | Healthcare | Insurance |



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