Five tips from the "father of IPMI"
for choosing international health insurance
In the world of international health insurance, few figures have the reputation and record of Per Bay Jørgensen, recognized industry-wide as the “father of IPMI.” With more than five decades of experience, Jørgensen pioneered the development of health solutions for people living outside their home country, laying the foundation for a market that is now key to global mobility.
We recently had the privilege to speak one-on-one with Jørgensen who underscored five essential factors people should consider before purchasing an international health insurance plan.
1. Type of coverage and adequate limits
As people begin to do their research, the first step is to understand how comprehensive the selected coverage will be. International health insurance should offer sufficient protection for medical treatment and hospitalization, especially in high-cost healthcare systems.
“It is essential to have adequate coverage, with sufficient limits and good support for medical treatment and hospitalization,” explains Jørgensen.
Beyond price, an insured must be sure the limits allow access to high-quality medical care without a significant financial impact. VUMI®, for example, offers plans with unlimited worldwide coverage, guaranteed lifetime renewals, and access to more than 7,000 hospitals in over 100 countries, ensuring first-rate medical care across the globe.
2. Coverage of pre-existing conditions
One of the most critical aspects of any IPMI policy is the handling of pre-existing conditions. Failure to review this point carefully can lead to unwelcome surprises when insurance the is needed the most.
“It’s very important to verify that pre-existing conditions are covered. This is where some companies tend to deny coverage when problems arise,” warns Jørgensen.
Each policy defines this issue differently, so it is critical to clearly understand what is covered, under what conditions, and when coverage will kick in.
3. Deductibles and financial capacity
The deductible directly influences the cost of insurance and the level of expense that the insured must assume in the event of a medical emergency. (Read more about key terms here).
“There are policies with and without deductibles. The important thing is to assess whether you are in a position to cover certain expenses on your own or with support from your employer,” says Jørgensen.
Choosing the right deductible means finding a balance between savings on the premium and financial peace of mind in the event of an unforeseen event. With a plan such as VUMI®‘s MyVIP Care , policyholders can adjust deductibles and specialized riders to tailor the policy to their lifestyle and budget.
4. Financial strength of the insurer
International health insurance is a long-term relationship. Therefore, the financial strength of the insurer is a key factor in ensuring that coverage will be maintained over time.
“It is essential that the company is solid and transparent about its financial situation to avoid problems in the future,” says Jørgensen.
Analyzing the insurer’s record, financial backing and international presence helps people make more informed decisions. VUMI® policyholders, for example, can feel confident that they are insured by a debt-free company with strict capitalization policies and the backing of a global reinsurer.
5. Importance of reinsurance
Reinsurance is a less visible but essential element for the stability of an IPMI policy. This backing allows the insurer to respond to high-cost claims and complex situations.
“Having good reinsurance is key to ensuring that coverage is maintained even in difficult situations,” emphasizes Jørgensen.
Solid reinsurance provides confidence and continuity, even in scenarios with high medical demands.
An informed, long-term decision
Choosing international health insurance goes far beyond price. It involves understanding the coverage, evaluating the insurer, and ensuring an insured will have real support when it’s most needed.
Per Bay Jørgensen’s experience sums it up clearly: the difference in a good IPMI policy is noticeable when things don’t go as expected.
If you are evaluating international health insurance or want to confirm that your current coverage meets your real needs, consult your insurance agent, who can help you review the terms of your policy, answer key questions, and assist you in choosing international coverage appropriate for your lifestyle and global mobility.
