• Expatriate Health Insurance Blog

  • Monday, February 19, 2018

When choosing investments, it can be very tempting to put your money towards options which promise huge potential rates of return. But if you are simply trying to provide a firm financial base for your family in the event you are no longer around to support them, then a simpler approach works best. You will find that an expatriate life insurance plan offers the safest way to invest your money for your family’s protection.

If you are pursuing investments that protect your family after you die, then you are making a very wise move. But you should know that not all investments are created equally. You may hear a stock broker talk about how much money you might make by putting your money into stocks. They may convince you your family could lead a luxurious, worry-free lifestlye if your stock investment pays off.

What they do not emphasize is that the investment very well may not pay off. There is no guarantee of success with stocks. You might make 10 times more than you put in, you might make 100 times more than you put in, or you might lose every penny. Imagine your family being left with no money at all with which to protect themselves financially! That is how the up and down nature of the stock market works. In order to potentially get the big return, you have to take a very large risk.

That is why an expatriate life insurance plan is such a good idea. It will not fluctuate in value based on market changes. So while the policy won’t be worth any more in 10 years, it also won’t be worth any less. If you buy $1,000,000 of coverage today,. that’s what it will be worth in a month, in a year, etc. With something as important as your family’s financial stability you simply cannot afford the threat of drastic negative changes. A safe investing option that preserves your investment in full is the best option for making sure that if you are not around to protect them, their bills can still be paid.

Are you an expatriate who is planning a trip to their native country this summer? Maybe you have a family get-together like a birthday or reunion that you want to attend. Or maybe you need to return to your home country for business purposes. Whatever your reason for traveling home this summer, you should make sure that your expatriate travel insurance plan has return coverage.

Not all plans have this type of coverage. Some plans cover you only in the country you are living in. For some people this may make sense, as they might have an insurance policy that covers them in their home country as well. But for others, no such policy is owned, and the last thing they want is to make a return trip to their country, have a medical emergency arise, and then realize they do not have insurance that will cover their treatment.

Expatriate travel insurance plans can be purchased with this coverage included, though. That will allow you to get the treatment you need at an affordable rate while visiting your native country. Without an insurance plan like this, the cost of treatment could easily reach several hundred or even thousands of dollars. Do you have that kind of extra money lying around?

With that in mind, if you already own an expat policy, check to see if it includes this type of coverage. If not, ask your plan provider if it can be added. It will cost extra, but it will be well worth the investment. If you have never bought an expat policy and are in the planning stages of scheduling your trip, then make sure that whatever plan you buy has return trip coverage included. Buying it upfront may even help you save more money as opposed to buying it later.
As an expatriate, hopefully you have realized the benefits of expatriate travel insurance. It can save you significant amounts of money on essential medical care needed while living and traveling abroad. But you may not have yet considered the value of adding a expatriate travel insurance policy to your plan. If saving money to you is important, this is definitely something for you to look into.

Do you know what you would do if you were scheduled to fly, but something came up which prevented you from being able to? Or if you simply did not feel comfortable flying for some reason? Cancelling a flight is usually a difficult and expensive process. Airlines very rarely issue refunds, especially if you are within just a few days of the flight.

But sometimes you have no choice but to cancel. If you are doing business, maybe a client has cancelled a meeting. Or from a personal perspective, maybe a loved one has been hospitalized. and you need to stay back to help take care of them. Or perhaps some world event like a terrorist attack or natural disaster has you feeling uncomfortable with the prospect of flying. Any of these is a realistic and common scenario that cause travelers to cancel their plans.

With a expatriate travel insurance policy, you can cancel your flight without losing the money you invested in your ticket. Flights can be cancelled on short notice, and the policy even works with flights that are labeled as nonrefundable by airlines. With this valuable asset added to your expatriate travel insurance plan, you can enjoy truly comprehensive coverage!

Living as an expatriate, even if it is for a short time, will be an experience to remember forever. Living in a new country exposes you to different cultures, new people, and interesting traditions. You will have the chance to visit unique areas and broaden your personal horizons. It is, however, a major endeavor, and one that you should plan for carefully. Three ways to help you plan for the best possible experience are to research the area you will be living in, make a list of all the things you want to do during your time there, and to purchase expatriate travel insurance.

By researching the area you will be staying in ahead of time, you will be able to avoid problems that other expatriates may have faced in the past. Are there certain areas of the city that are unsafe? Are there certain environmental factors to watch out for? Or maybe there are just some simple tips out there that will help you get adjusted to your new environment a little faster, so that you can find your way around more easily and make more new acquaintances. A little research upfront can add a lot of value to your stay.

Next, and this can even be done while researching the region, make a list of everything you want to do during your time living abroad. The last thing you want is to return to your home country regretting that you did not take the time to see some certain sight or try some new experience. So as you are researching, put together a checklist of every place within the region that you want to visit, each adventure you want to try, and anything else that will make your time abroad more memorable.

Finally, plan for the unexpected with expatriate travel insurance. This type of insurance is designed with your needs in mind, and it offers you coverage in a wide variety of situations. This can include trip cancellation, medical coverage, and medical evacuation. Do you know how much a simple doctor’s visit or an emergency room trip costs without insurance? Depending on the severity of your problem, it could be anywhere from hundreds of dollars to thousands! This type of insurance was created to help you avoid those high costs, and together with the steps of researching your destination and listing your target experiences, it is an important element of making a memorable stay as an expatriate.

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