Frequently asked questions

How do I get a quote?

Just provide some personal details about your health, your age and the type of coverage you require. We will then tap into our network of insurance companies to find and rank the very cheapest life insurance rates available to you. Once you’ve selected your quote, an insurance specialist from i-Brokers will assist you and help you get set up with your policy.

How much life insurance do I need?

That really depends on what stage of life you’re at and how many dependents you have. Younger people with greater financial commitments definitely require more coverage than older people. Certainly if you have dependents and are the sole breadwinner in your family, it’s a good idea to take at least 5 times your gross annual income in life insurance coverage. Many experts recommend even more – it’s not uncommon to suggest 7 or 10 times your income if you have several children and a large mortgage to worry about. Remember, the incremental cost of purchasing extra coverage is not that great, so it’s worth buying more coverage to ensure your family will be taken care of no matter what.

What type of life insurance plan should I buy?

It really depends on your unique needs. First you should familiarize yourself with the two main types of life insurance – whole of life insurance and term life insurance. Whole of life insurance policies provide coverage for the entire length of your life, while term life insurance only provides coverage for the specific length of the term that you selected. Term plans provide coverage over a specific number of years, rather than for your entire lifespan. The coverage, or what is also known as the death benefit, is paid out only if you die during the term of the policy. Term life plans remain an excellent option for those who are financially vulnerable in the near term but who probably don’t require a large death benefit later in life. Term policies are also typically the least expensive form of life insurance.

Who can I name as a beneficiary of my policy?

Generally, insurers ask that the beneficiaries of your life insurance policy be close financial dependents – children and spouses most often fall into this category. If I die in an accident or from a sudden illness, will my policy pay out in full? Life insurance policies pay out no matter how you die, with the exception of suicide. You will, however, have to disclose your health history and any medical issues you have prior to taking the policy.

What is in-patient care?

In-patient treatment is treatment associated when medically necessary for you to occupy a hospital bed overnight. These are normally paid in full by most insurers plans, but if staying at a higher medical treatment cost location, or hospital, it is advised to check with your insurer prior to treatment.

What is outpatient care?

What is outpatient care? Out-patient treatment by contract is treatment not requiring you to occupy a hospital bed, such as General Doctor consultations, diagnostic tests or scans. Many plans providing out-patient cover provide caps to various out-patient treatment benefits.

Can I choose where I have treatment?

You can have medical treatment at any recognized medical provider such as a hospital or clinic within your chosen area of cover. Some insurers also have setup a network of medical providers to provide their member convenient billing processes, and they may be able to pay the invoice direct to the hospital on your behalf. It is advised to check the latest direct-billing arrangements between your chosen medical provider and insurer prior to arranging treatment.

What is the period of cover for a medical insurance plan?

The minimum contract length is usually twelve months.

Can I get covered for pre-existing medical conditions?

Depending on the insurer, the condition and your profile, terms may be offered to extend coverage for certain pre-existing conditions. In this instance, coverage can be extended to cover the condition with the payment of additional premium. If you would like to try and have your health conditions covered, please liaise with our qualified consultants so they may help you have your individual situation assessed by an insurer.

What are maternity waiting periods and how do they work?

Insurers have various waiting periods from 10 to 24 months, and during this time a member with a plan including maternity care benefits is not eligible for maternity treatment to be covered by their plan. After a members waiting period is complete, the insurer will pay any plan maternity benefits for both pre and post-natal care.

What are my payment frequency options?

Health insurance premiums can usually be paid for on a monthly, quarterly, semi-annual or annual basis. There is no additional surcharge paying a premium on an annual basis but the vast majority of insurers apply a surcharge if you wish to pay via a different frequency.

What are benefit limits?

There are two kinds of benefit limits: ‘Maximum Benefit Limit’, ‘Lifetime Maximum Benefit’ or something similar is the maximum amount that the Insurer will pay for all benefits in total, per member, per year, or over the lifetime of your cover. Specific Benefit Limits. These are separate limitations applied for any given benefit. For example: “Routine Maternity” may carry a limit of USD10,000 meaning that the maximum amount that the Insurer will pay out for the costs associated with normal pregnancy is USD10,000. Specific benefit limits may be applied on a per lifetime, per insurance year or per event basis.

What are deductibles and excesses and how do they work?

The annual deductible is the total value that your eligible claims must reach each membership year before the insurer will start to pay any benefit. Once your annual deductible is reached, the insurer will pay all eligible claims in full, up to the benefit limits of your plan. If your insurer provides an Excess instead of a Deductible, this operates in a similar way although is applied per medical condition during the policy year.

What is the difference between a local plan and an international health insurance plan?

Local plans depending on the country where you are based can sometimes offer an alternative to international health insurance. They usually offer lower levels of cover (albeit for lower costs) and are usually not transportable should you happen to move to another country.

How is my premium calculated?

Your price is determined by Insurers on cost / benefit basis or in other words, at what price shall I insure you for where I can still make a reasonable profit. There are several factors that Insurers may consider to determine your premium price: Benefits that you select, Age, Area of cover, Country of residence, Excess / deductible, Payment frequency, Special offers, Pre-existing and chronic conditions, Premium rates in effect.

Can someone else pay my premium?

On the whole most insurers will allow the premium to be paid by a third party. It is often the case that a premium is paid for by a family member or by a company who are providing medical insurance as an employee benefit. A range of payment methods can be used from credit/debit card to bank transfers and cheque.

How do I claim on my medical insurance?

If you paid for some medical expenses, you must ensure that you fully complete a claim form, and by your medical practitioner if the claim form requires. This form needs to be sent to your insurers claims center directly with the supporting documents, and can be downloaded from your insurer’s website, or contact us to send you one. Note to check with your insurer, but generally their claims center will require to receive the original invoice showing a breakdown of the treatment and associated cost and your receipt for payment. Note your insurer will have a time limit on when a claim must be received by after the treatment date. This can be between 90 days and 12 months depending upon your insurer. Claim payments are made by check or wire transfer in a wide range of currencies.

What do I need to declare when applying for health insurance?

Someone applying for international health insurance cover is obliged to answer all questions accurately and fully, and if in doubt about how to answer a question, to provide any relevant additional information regarding any health questions asked. The insurer relies on the information on your application form to help them decide if they can accept your application, or if they need to apply special terms, which could include exclusions from cover, conditions or a premium surcharge, depending upon the insurer. If your application form omitted any facts or contains materially incorrect or incomplete facts the insurer has the right to declare your policy void, or impose special terms on a policy from the date your policy was originally setup (date of entry). It is important you take the greatest care to ensure your application is accurately and fully completed, and no facts have been withheld which could have an effect on the terms offered by the insurer.

Is travel insurance a waste of money?

Is travel insurance a waste of money? A travel insurance plan can cover you for unexpected costs incurred before or during your trip so costs are less likely to come out of your own pocket. A travel insurance plan can reimburse you for the pre-paid, non-refundable portions of a trip if you need to cancel or interrupt your trip for a covered reason. A travel insurance plan can also include medical evacuation coverage (the price of which may cost upwards of USD100,000) and medical expense coverage, plus reimbursement for lost, damaged or stolen luggage and personal effects. Most travel insurance plans also include 24/7 assistance services to re-book flights and hotels on your behalf and act as a personal travel assistant while you are away from home.

Why should a traveler buy travel insurance?

Why should a traveler buy travel insurance? Travel insurance offers travelers coverage for unforeseen problems, from a cancelled flight to a serious illness—or in rare cases, even an act of terrorism or the financial default of a travel supplier. If an illness, accident, or other covered unforeseen circumstance forces a traveler to cancel or interrupt their travel plans, they face two potentially major financial losses—money invested in nonrefundable pre-payments and medical expenses that in many instances may not be covered by health insurance.

What do I need to have to purchase an insurance plan online?

Before purchasing, please have the following information handy: Personal information for all travelers who will be insured, including dates of birth. Trip details, including dates of travel, destination are also needed.

Can I get travel insurance if I am not on a cruise or a tour?

Yes. We offer a variety of travel insurance plans for a variety of types of travel and needs.

When is it too late to buy travel insurance?

Insurance can be purchased up to 24 hours prior to trip departure date.

How do I break down trip costs per person in my itinerary?

Claims are paid per person up to the amount insured. You should divide the cost of the trip per person according to what each person paid.

Where do I go to compare products?

Use the simple quote guide with i-Brokers on our home page.

What do I do if I don’t know my airline at the time I am buying insurance?

This isn’t a problem, it is something that is not always needed by insurers.

What do I do if I don’t know my airline at the time I am buying insurance?

This isn’t a problem, it is something that is not always needed by insurers.

Do travel insurance plans tailored to specific types of travel?

Yes. i-Brokers offers travel insurance plans for an array of budgets, from modest trips to high-end luxury vacations. There are also products for last-minute getaways and extended trips, and specific coverage plans for cruise travelers, golf travelers, students, and sports travel.

Corporate Health Insurance

What is the minimum number of employees eligible for getting group health insurance? 

For most medical insurers, the minimum number of people eligible for obtaining group health insurance is 1. 
Some insurers require a minimum of 2, while others need 3.

What is the minimum number of adults eligible for a medical history disregarded (MHD) policy?

The majority of health insurers require a minimum number of 5 adults for an MHD insurance policy whereas some need at least 10 adults for such a policy.   

Is group health insurance cheaper than individual health insurance?

Group health insurance premiums are cheaper than buying individually. Having a budget allocated for this will help.

Does group health insurance cover pre existing conditions?

Group health insurance can exclude pre-existing medical conditions when it is medical history disregarded underwriting.

Can group health insurance be ported?

Some medical insurers allow your company to port your group health insurance, while others do not. So it can be ported on a case by case basis.

Can you cancel group health insurance at any time?

You can cancel group health insurance at any time you want during the year.

How are group health insurance premiums calculated?

Group health insurance premiums are calculated based on the following factors: type of health insurance policy, number of employees, age, gender, medical history (pre-existing medical conditions), drinking and smoking status, location and payment schedule. 

Why is group health insurance cheaper than individual health insurance?

Group health insurance is cheaper than individual health insurance because if more people are to be covered at the same time as a group, the premium per head would go down.   

Corporate Life Insurance

Is group life insurance portable?

Group life insurance is portable on a case by case basis. This means some life insurers allow your company to port group life insurance while others do not.

Does group life insurance end at retirement?

Group life insurance typically ends at retirement for most life insurers. However, some companies offer group life insurance that continues after an employee retires. 

When does group life insurance end for an employee?

The duration of group life insurance depends on the choice you make whether it be ending in 5 year term, 10 years, 20 years or 30 years.

Does group life insurance pay for suicidal death?

Group life insurance does not pay for suicidal death. Suicidal death is typically an exclusion.

How is group life insurance premium calculated?

Group life insurance premium is calculated based on the following factors: amount of life coverage, age, gender, medical history, number of employees, occupation, hobby, drinking and smoking status, location and payment schedule. 

Is group life insurance cheaper than individual life insurance?

Group life insurance is cheaper than individual life insurance because if more people are to be covered at the same time as a group, the premium per head would go down.   

Are corporate owned life insurance premiums deductible?

There are no deductibles when it comes to life insurance premiums.