Empire Life has announced the launch of a new product aimed at firms with employees on short-term assignment outside of Canada. The firm’s “International Business Travel Medical” product aims to provide business owners with the ability to “customize” the benefit to meet the needs of their employees. It is administered by New York-based insurer MetLife.
The product is “portable,” which means employees can maintain the same benefit level in every country and territory.
“Working abroad can be both exciting and challenging for expatriates and their families,” said Ann Deugo, vice president, MetLife Expatriate Benefits.
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“With the International Business Travel Medical plan, customers have access to emergent and urgent care via our robust network of healthcare providers in over 180 countries, which helps deliver peace of mind no matter where they are in the world,” she added.
The product provides a 24/7 service and multilingual travel assistance. Business travellers can speak to a customer service representative to receive a range of services—including emergency evacuation, and emergency legal assistance to help with lost or stolen documents and luggage.
Last March, Empire Life inked an agreement with Symbility Health to offer stop loss insurance to Symbility’s third party administrators. Stop loss insurance allows employers who self-fund their employee benefit health plans to protect themselves from assuming full liability for claims. As of December 31, 2016 Empire Life had total assets under management of $16.1bn.
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Empire Life, Symbility Health to offer stop loss insurance to employers