Newly available to Allianz Worldwide Care policyholders on an individual health insurance plan is a Dormancy Option called Freedom, which allows the policyholder to pause their coverage when they obtain an employer provided medical insurance policy; with the option of reactivating the Allianz plan when they need it.
In Asia-Pacific the new Allianz Worldwide Care Dormancy health insurance option is available exclusively through Pacific Prime.
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International Dormancy Health Insurance Coverage
The Dormancy Option from Allianz Worldwide Care and Pacific Prime offers policyholders greater amounts of flexibility in their international health insurance plans than ever before by allowing for the ability to pause and reactivate coverage as needed.
The major benefits of the Allianz Dormancy health insurance option include:
- The freedom to switch coverage on a temporary basis to an employer provided health insurance plan.
- The ability to keep the best individual health insurance benefits while the plan is paused.
- The option to reactivate the plan when it is needed, with no additional underwriting.
This represents a major innovation in international health insurance coverage and is the first such plan in Asia-Pacific to recognize that expatriate employees around the world require additional levels of flexibility in their coverage options.
How the Dormancy Option can Help you
One of the most important aspects of the Allianz Worldwide Care Dormancy Health Insurance option is the fact that, even while paused, the policy is still active. Even though the policyholder cannot claim for treatment they may have received while the plan is dormant, upon reactivation of the policy any medical conditions which may have developed while the plan was paused will be eligible for coverage without any underwriting or additional applications for cover.
Traditionally, expatriates would typically cancel their individual health insurance plans when moving to a job providing a company medical insurance policy. However, in the event that the expatriate left the job through which they were receiving coverage they would need to find a replacement health insurance plan. Once the expat has left the company, the company coverage will cease.
This can be of grave concern, especially if the expatriate has developed a serious medical condition while covered under the employer provided health insurance policy. Historically, in the event that the expatriate left the company after having developed a medical condition, such as Cancer or Diabetes, any new insurance policy they obtain would normally treat the medical condition as pre-existing and will then typically exclude the condition from coverage under the new policy.
However, with the Allianz Worldwide Care Dormancy option, the expatriate does not have to cancel their coverage when moving to an employer provided health insurance scheme; the plan can be paused while they receive health insurance through their company. This ensures that, in the event the expatriate leaves their company, that they do not have to reapply for health insurance protection but rather reactivate the existing, dormant policy.
If the expatriate who has chosen the Dormancy health insurance option develops a medical condition while the plan is dormant, that condition will be fully covered upon reactivation of the plan, subject to the policy’s terms and conditions. This allows the individual to avoid any concerns about obtaining coverage for a pre-existing medical condition as any medical conditions which develop while the policy is dormant will be treated as having developed under the normal course of the policy and can receive full coverage upon reactivation.
- Pause Plan While On a Company Provided Health Insurance Policy
- Reactivate the policy when leaving the company
- Ensure coverage of any medical conditions which may have developed while the plan was paused.
A video explanation of the Dormancy Option.