International Health Insurance

Why you need health insurance

Health insurance is one of the most important coverages you can acquire to protect yourself and your family. It is a mean to safeguard your assets in the event that you, or a family member, is stricken by injury or disease. It helps pay for the services you will require in your healing process.

An international health insurance policy helps individuals who require medical services away from, or within, their country of residence. Whether it be that their country’s medical infrastructure is not advanced enough, or they prefer medical services abroad, a health insurance policy provides the option of getting treatment with a wider spectrum of medical providers. It gives you more choices to manage a medical condition.

The treatment of injuries or diseases can be very expensive. Your inability to pay for services could hinder your chances of making a full recovery. That is why insurance is so important. It affords you the financial resources to pay for treatment and the professional support to handle medical claims.

A policy must be purchased before a disease manifests itself. It is not possible to predict if you will need to pay for medical services in the future, short or long term. Therefore; being insured, at all times, is crucial to benefit from the protection and support that the policy provides, should it be called to respond.

The International Health Insurance Policy

The international health insurance policy agrees to pay the insured for the covered expenses, as defined in the policy, that they, their spouse or any dependents incur as a result of medical services or treatment anywhere in the world.

Risk Reinsurance Holdings, Inc., acting as agents of VIP Universal Medical Insurance (VUMI) Group Limited, provides health insurance solutions to individuals who wish to obtain comprehensive protection. We have access to a wide range of products that can be tailored to fit your needs and budget.

The extent of coverage will vary between the products that the company offers. Understanding the terms and conditions of the insurance contract is essential to determine how much protection your policy provides, and what services are covered.

We hereby discuss the sections that make up the international health insurance contract that we offer. They are as follows:

Schedule of Benefits

The schedule of benefits provides an overview of the coverages provided in the insurance contract. This section is a summary of the terms stipulated in the policy. Even though this section is included, the entire policy must still be read to understand the actual terms, conditions and the scope of coverage that applies.

Insuring Agreement

The insuring agreement is the section within the policy where the insurer agrees to indemnify the insured for the covered medical expenses that they, their spouse, or their dependence incur. Insurance is a promise made by an insurance company to pay for covered losses. This is the section where that promise is stipulated.

Policy Term

The policy term is the period of time during which the insurance contract is in force and effect. It starts at its inception date and ends at the expiration date. The duration of the insurance policies we provide are 12 months and they can be renewed indefinitely.

Eligibility for Coverage

The eligibility for coverage section establishes guidelines under which an insured, their spouse and their dependents can qualify to purchase an insurance policy. In so doing they can enjoy the benefits of coverage.

Coverage is available to a person who, at the time of submitting an insurance application, resides in a country that is not the United States of America, is at least 18 years old and pays the corresponding insurance premium.

Coverage for dependents is provided until said individuals reach 19 years of age, or 24 if they are single and enrolled as a full-time student in an accredited school or University. Newborns are included as dependents of the insured and are therefore covered under the insurance contract. No underwriting analysis is necessary for newborns, if the pregnancy was covered under the policy.

The standard plans that we offer can be renewed indefinitely. However; to request coverage for a new policy, the insured and their spouse must not exceed 75 years of age.

Insured’s Obligations

The insured’s obligations section delineates the responsibilities of the insured while the policy is in effect. The core responsibilities of the insured are:

• Satisfy the deductible prior to being indemnified.
• Pay the policy premium as it becomes due.
• Notify changes in the country of residence.
• Notify all claims and provide all receipts.
• Provide any medical information that the insurance company requests.
• Obtain authorization for the medical services requiring notification or pre-authorization, prior to receiving them.

Understanding this section is of paramount importance. You should read the policy carefully to ensure that you comply with all requirements. Non-compliance can put your coverage in jeopardy and result in claim disputes or declinations.

Coverage Benefits

The benefits section works as a complement to the insuring agreement. It defines the protections that the insurance policy provides. It establishes the scope of coverage and the terms and conditions that apply. The insurance contract responds to a wide range of claim scenarios. This section describes how.

Coverage Exclusions

The exclusions section works to narrow the protections granted by the policy and its insuring agreement. It defines the limitations of the insurance policy. Exclusions are added to eliminate coverage for: (1) uninsurable exposures, (2) risks that should be covered by other types of insurance or (3) risks that require special underwriting consideration.

Endorsements may be available to overwrite exclusions. By endorsing the policy, the insurer amends the contract to provide coverage.

Definitions

The definitions section defines important words and phrases that have special meaning in the insurance contract. The policy must be read in its entirety. The definitions included in this section apply throughout the policy.

General Information

The general information section provides details about how the coverages of the insurance contract apply. This section addresses important areas such as: waiting periods, currency, cancellations and reinstatements.

Policy Administration

The policy administration section defines how the policy will be managed in pertinent areas. They entail procedures and requirements relating to:

• Request for changes in the insurance contract.
• Notification and pre-authorization requirements.
• Claim settlement and payment procedures.
• Arbitrage and dispute resolution.

The above sections, within the insurance contract, provide insight into the terms, conditions and scope of coverage that the international health insurance policy provides. The products that we offer vary in the ways that coverage applies. We can find a policy to meet your needs and your budget.

It is essential that you read your policy to understand how it protects you. We are at your disposal to answer any questions you may have.

VUMI Group, Inc.

Company Overview

VUMI (VIP Universal Medical Insurance) is an American International Insurance company, headquartered in Dallas, Texas, with offices in El Paso, Miami, Costa Rica and Ecuador.

NHSI (National Health Solutions, Inc.), the Holding company and owner of VUMI, has more than 26 years of experience as PPO (Preferred Provider Organization) and TPA (Third Party Administrator). This is a key element in the management of the complex world of Patient Navigation. NHSI is a Specialist in agreements, cost containment, discount negotiation and revenue to major providers, clinics and hospitals in the United States and around the world.

NHSI has more than 1,000 direct-convention hospitals in the United States of America. It has as customers, 60 insurance companies that use their networks, in addition to 170 corporate clients that make up 70,000 insured. It also has more than 26 years handling claims. This gives them: the ability to negotiate discounts on claims and not pay for the use of a network. The result is competitive rates, a profitable business and long-term stay in the market.

VUMI Seguros is its international company and has more than 6 years in the market. It has a presence of agencies and agents in each Latin American country and has clients in more than 50 countries. It is distinguished by having a VIP service in the handling and payment of claims and services to policyholders. Its coverage is supported by Partner Re, one of the most important reinsurers globally.

VUMI has different health insurance plans, designed to meet your needs. They are discussed in the next section.

VUMI Plans

Main Plans

VUMI’s main plans lie at the core of their product offering. The plans described in this section each provide comprehensive coverage to address your health insurance coverage needs. From alternatives offering the widest coverage available with unlimited policy limits, to others that provide comprehensive protection at lower rates, we can find the right plan for you.

VUMI’s core plan offering consists of their Absolute VIP, Universal VIP and Special VIP health insurance policies. They can be described as follows:

Absolute VIP

Unlimited international medical insurance per insured person, per year. Offers five deductible options. Provides 100% coverage worldwide, without doctor or hospital restrictions. Absolute VIP is the most comprehensive plan offered by the company. Through this, VUMI Group provides unparalleled coverage and comprehensive service. We are confident that it will exceed your expectations.

Universal VIP

International health insurance up to USD 5,000,000 per insured person, per year. Offers five deductible options. Provides 100% coverage worldwide, without doctor or hospital restrictions.

Special VIP

International health insurance up to USD 3,000,000 per insured person, per year. Offers five deductible options. Provides 100% coverage in the United States (within ‘USA Special Network’ hospitals; restrictions apply outside of that network). Outside the United States, there is 100% coverage without doctor or hospital restrictions.

Specialty Plans

The company offers additional products outside their main plans. They are used to grant coverage to individuals who do not qualify to a core plan due to underwriting criteria (such as when their age at the time of completing the application exceeds 75 years) or for those who wish to reduce the scope of coverage in exchange for a lower premium. These plans are referred to as specialty plans and they can be described as follows:

Senior VIP

International health insurance up to USD 3,000,000 maximum lifetime coverage, per insured person. It covers an annual maximum of USD 350,000. Provides 100% coverage in the United States (within ‘USA Special Network’ hospitals – restrictions apply outside of that network). Outside the United States, there is 100% coverage without doctor or hospital restrictions. Emergencies are covered 100% without hospital restriction.

You can apply for this policy between the ages of 60 and 90. It provides individuals a way to purchase coverage beyond the threshold of 75 years of age set by the other plans.

Optimum VIP

International health insurance up to USD 1,000,000 per insured person, per year. This is extensive coverage for major diseases, including organ transplants, among others. Provides 100% coverage in the United States (within ‘USA Special Network’ hospitals – restrictions apply outside of that network). Outside the United States, there is 100% coverage without doctor or hospital restrictions. Emergencies are covered 100% without hospital restriction.

Access VIP

International health insurance up to USD 2,000,000 per insured person, per year. The Access VIP program is designed to act as a complementary plan. Provides 100% coverage in the United States (within ‘Access Network’ hospitals – restrictions apply outside of that network). Outside the United States, there is 100% coverage without doctor or hospital restrictions. Emergencies are covered 100% without hospital restriction.

Direct VIP

International health insurance of up to $5,000,000 for hospitalization treatments, intensive care unit, medical and air and ground ambulance, as well as some of the major outpatient treatments such as chemotherapy, dialysis, medical consultations and pre-hospitalization tests, preventive medical checkups and more. It provides coverage worldwide, without restriction from doctors or hospitals.

Risk Reinsurance Holdings, Inc.

Risk Reinsurance Holdings, Inc. is an insurance brokerage firm in South Florida. As insurance brokers, we can help you understand your coverage needs and the products that are available to address them. Our goal is to find the right health insurance solution on your behalf.

Joshua S. Pestano (Insurance & Reinsurance Broker | President) is the founder of Risk Reinsurance Holdings and the person responsible for all insurance negotiations at our company. Joshua is a licensed and accredited insurance broker with 10+ years of experience in the industry.

Our company helps with property and casualty insurance, reinsurance, risk management and international health insurance issues. We are backed by major insurance and reinsurance companies and brokers. Our infrastructure and knowledge allows us to assist with a wide range of risks.

As VUMI brokers, we give you access to the portfolio of products that the company has to offer. We’ll help you get the best solution to meet your health coverage requirements.

Try Risk Reinsurance Holdings today. Leverage our expertise and market access to solve your health insurance coverage needs. Let us help get your insurance negotiations done right. You will find options to contact us in the section below.