• Expatriate Health Insurance Blog

  • Monday, February 19, 2018

What would your family do if you perished tomorrow? How would they pay their bills without your income? How would they afford the costs of taking care of your remains? Could they afford to continue the lifestyle they've grown accustomed to? These may be uncomfortable questions to answer, or even to think about, but the truth is if you have a family then you need to have answers to these types of questions. And if you are living abroad, the need to have these questions answered is even greater because of additional expenses and complications. For that reason, you should strongly consider expatriate life insurance.

Without your income, your family may have a difficult time affording their monthly expenses. Everything from mortgage payments to utility payments becomes a greater burden, unless you have planned properly. And planning properly begins with life insurance. For people who are living abroad permanently or working abroad for an extended period of time, a special policy exists called expatriate life insurance.

Being an expatriate provides a unique set of financial obstacles for those you leave behind. For instance, paying to have your remains repatriated to your home country can be quite expensive. And there may be expenses associated with your living arrangements overseas that need to be settled as well. Many families do not have that kind of extra money sitting around.,

These expenses, as well as everyday costs, can be managed with an expat policy. You can calculate the total sum your family needs to pay off bills and manage financially moving forward, and then purchase that amount of insurance. The amount purchased is the same amount your beneficiaries receive upon your death, so you do not need to worry about fluctuation or depreciation of value. Hopefully nothing happens to you while living abroad, but if it does, don't you want to know the people you love are protected?
If you are planning on living abroad or working abroad for an extended period of time, you will need to make sure your health insurance needs are taken care of. After all, you will be as likely - or sometimes even more likely - to become ill injured in your new location as in your native country. But making that purchase can be confusing; what do you need, where should you get it from, and how much should you pay for it? In terms of figuring out what you need to buy, here's some help in determining whether you need home country coverage in your expatriate health insurance plans.

There are two primary ways you can buy expatriate health insurance. It can be purchased with home country coverage included, or with limited coverage. Knowing which one to purchase can save you money, either at the time o purchase by not buying more coverage than you need, or at the time of making a claim, by giving you the protection you need when you need it. So which of these two types of coverage is the right option for you?

The biggest deciding factor in reviewing these options is how much time you will be spending in your native country. If you will be living in your new country 365 days a year, then limited coverage should work.It is a good idea to still have limited coverage in place (as opposed to no coverage at all) because you never know when an emergency may arise. If you plan on spending part of your year living abroad, or you are in a scenario in which you return home for a week at a time every few months, then you will want to have a more robust home country coverage option.

Every expatriate's situation is different. Different reasons ranging from work to studies to personal journeys bring them to their new countries. But one thing all have in common is the need for expatriate health insurance plans. Knowing what type of coverage you need is essential to get the best value for your investment.
Expatriate life insurance is something that no one living abroad should be without. It is perhaps the best way to guarantee your family of financial protection to help manage their expenses if you die while living overseas. However, even though everyone needs this type of insurance, each expatriate's individual needs may differ. That is why it is important to know what you are looking for in a plan. Here are three questions to ask yourself when buying this type of insurance.

How much coverage do I need? This is probably the most important question you can ask when buying life insurance. Why is that? Well, if you don't have enough coverage, your beneficiaries will not have enough to cover all their expenses, including ongoing bills and your funeral costs. A good exercise is to map out all your monthly expenses plus any assets that can be used in emergency situations, and to then add in some additional money for emergencies like car trouble. This will help make sure you buy enough coverage,

What policy length do I want to purchase for? Life insurance plans are available in different lengths of coverage. Think about how long you will be staying overseas for. Are you living there indefinitely or are you on perhaps a three year assignment for your employer? The length of time you plan on staying abroad can impact how long you want to own your policy for.

What restrictions come with my expatriate life insurance plan? This is a very important factor to consider, because if your cause of death was excluded from the policy's coverage, your beneficiaries may not be able to collect. Common exclusions from life insurance coverage may include suicide and preexisting life-threatening conditions. Understanding this part of your policy ahead of time can help your family avoid any unpleasant surprises later.
Living as an expatriate is a unique experience, and part of that can sometimes entail living in dangerous or uncomfortable situations. When danger emerges in the country you are living or working in, you may wish to return to your native country until things have smoothed over. Of course while you are doing so, you will need to make sure that you have access to medical care in case you become ill or injured. Expatriate travel insurance offers protection in that type of situation, which is extremely useful to expatriates in Egypt right now.

The situation in Egypt currently is one that an expatriate may not feel comfortable living in. As political strife engulfs the country, protests could easily turn into conflict. And no expatriate wants to get caught in the crossfire of a violent political struggle. Temporarily leaving the country for a few weeks or a few months until things have stabilized may be a very attractive option to these expats.

But if you are living in Egypt full-time and then travel to another country, you may not be eligible for medical coverage in that destination. So if you become ill or injured, you will have to pay the full costs of medical care out of your own pocket. That can be a very expensive problem.

With an expatriate travel insurance program, you can exit the country and still retain your medical coverage. They cover hospitalization, emergency costs, and many other fees associated with medical care. Additionally, you can enjoy trip cancellation coverage, medical evacuation, trip interruption, and other features which make these plans valuable year-round.

Overseas Expat Medical Insurance (limited home country cover)
Worldwide Expat Health Insurance (home country included)