Group Insurance

The differences are many. The most important difference is that international contracts offer the option of compensation of out-patient expenses anywhere in the world while local policies offer this option only for clinics in Cyprus. Moreover, international insurance contracts provide much higher insurance cover for out-patient expenses (for example pregnancy expenses, physiotherapies, diagnostic tests tec.).

Undoubtedly, international contracts are superior in all categories compared to the policies of local insurance companies. Their most important advantage is that you can be offered full insurance coverage for pre-existing diseases from which you have fully recovered without any exceptions or increased premiums. Also, international insurance companies are much more flexible regarding coverage of expenses. However, the cost of international contracts is higher.

Following the introduction of the national health system, insurance companies have proceeded with important reduction of their premiums both in order to keep their current clients and to approach new ones. The vast majority of high earners will not make any compromises regarding the provisions of the general health system. Most of these employees own foreign passports and wish to have guaranteed access to their country’s medical facilities. Additionally, Cyprus’ general medical system does not offer direct access to the top medical establishments of the world. If employers want to approach very qualified employees they must offer them the option for essential medical care.

In the case of our international insurance companies even one person can join a group medical. In the case of local insurance companies the minimum number is four.

Most insurance companies in Cyprus operate exclusively through representatives. Additionally, insurance companies offer specific choices with specific terms which cannot be modified. The insurance brokerage companies have the option of offering to a company choices from various insurance companies so as to better meet the needs of the company’s employees. Also, it can offer coverage from various insurance companies for specific sub-categories of employees. For example, it can offer to young female employees the option of coverage with a company that offers high coverage of pregnancy expenses, something that other employees might not need.