• Expatriate Health Insurance Blog

  • Monday, February 19, 2018

For expatriates planning to visit their home countries, or just another country for a vacation, this holiday season, there is one investment they must be absolutely certain to make. If they want to ensure affordable access to medical care in the event of an emergency during travel, they will need an expat travel insurance policy. Without it, getting the medical care they need could cost them hundreds or even thousands of dollars.

Living in a new country is truly an exciting and engaging experience. But it can also be a stressful and tense one. Experiencing different customs and speaking a different language can be quite intense, so when the holiday season rolls around many expatriates like to release that tension by heading back to their native country. That gives them a chance to be around more familiar surroundings as well as their family and friends.

But as with any travel situation, it is important to keep in mind the potential for illness and injury. These problems can derail any vacation at any time. In a best case scenario, an illness or injury can be cured with a quick visit to the hospital, and you will have an insurance plan that makes getting medical attention affordable. But if you do not have the right insurance plan, the physical problems caused by illness or injury will quickly turn to financial ones.

Without insurance, you may not be able to afford medical treatment. For minor issues, you may be able to get away with a bill of between a few hundred and a thousand dollars. But for more serious incidents, especially those involving long hospital stays or surgeries, you will find yourself forced to pay several thousand dollars in medical fees. That is why an expat travel insurance plan is so important. It will protect you from those expenses, giving you security on your trip home.
Are you involved in a group that works overseas or will be working overseas soon? Perhaps you head a company that has expanded internationally. Or maybe you work with church missionaries. If your line of work or personal interests involve sending groups of professionals or volunteers to do this sort of international work, you will definitely want to explore the benefits of expat group insurance. And there may be no better way to purchase this type of insurance than online.

The first benefit of buying expat group insurance online is the ability to compare different policies quickly and easily. Rather than picking a plan a local insurer offers and hoping that if includes everything you are looking for, you can use the internet to compare and contrast a variety of policies to make sure that what you buy has exactly the sort of coverage the members of your group need. That will save your group time, money, and stress later on.

Additionally, you can use the internet to compare rates on this type of insurance. Since the internet allows you to get quotes from anywhere in the world, you have a much wider range of competition available from which to obtain price quotes. However, you should be careful when evaluating the cost of various insurance plans. You might be tempted to go with the lowest cost plan, but that could be a mistake. Often times the lowest priced plan is not the most effective one, and may not even have the basic points of coverage you need. That is where the aforementioned point of checking points of coverage is so critical.

Buying this type of insurance can be confusing. Where do you look? What do you look for? How much should you pay? But with the various comparison shopping opportunities and research tools available online, you can increase your odds of making the right purchase. So before you buy your next group plan, consider using the power of the web to make your purchase decision a smart one.
As you are preparing to take the big step of living life as an expatriate, there are quite a few things you will need to do to prepare. One of the most critical of those is to purchase expat travel insurance. Unfortunately, many first-time expats think they can bypass this simple step and save a few dollars. What they do not realize is how dangerous that can be. In fact, their desire to save a few dollars may cost them many more in the long run.

"I am young and healthy, there's no way I'd need expat travel insurance." "That is really just for people who are in flight and auto accidents, and those happen to infrequently for me to worry about." "I have to worry about my living expenses first, so I just can't afford to buy insurance." "I do not travel more than once or twice a year, so I don't need it.": Those are all excuses that are given for not buying this type of insurance, and they are all misconceptions. An accident or illness can occur at any time. Even if you only travel from your expat home to another country once per year, something could happen during that trip.

And if it does, you will be forced to pay the full price of your medical coverage when obtaining treatment in another country. Even though you may have a great insurance plan in the country in which you are living, that coverage will not extend to countries you visit unless it has a specific travel component written into it. That makes traveling without the protection this type of policy offers a truly risky proposition.

Did you know that the cost of getting even the most basic medical attention without insurance can cost you hundreds of dollars? That would include a simple doctor's office visit and perhaps a prescription medication. And more expensive procedures, like surgeries, multiple-day hospital stays, or lengthy emergency room visits will cost you several thousand. That is the true cost of foregoing this type of insurance. Are you truly prepare to risk incurring such significant expenses just to save a few dollars now? You must ask yourself that before choosing to skip expat coverage.
Buying expat life insurance is an important investment when you begin life overseas. But do you know how much to buy? Probably not if you are not that familiar with the product. Thankfully, there is no reason to worry, because it is very easy to figure out how much you will need. Here are some helpful hints to aid you in the decision-making process.

First off, think about who your policy will need to cover. Is it going to be used to cover a spouse? Will you be using it to cover children? Obviously the more people it needs to cover, the greater total value it needs to have, as it will be providing for a wide array of needs for each person. So simply thinking about the size of your family is the first simple step in this process.

Next, start making a list of expenses. Include monthly expenses like mortgage payments, auto loans, credit cards, and utilities as well as one time expenses like fees associated with your repatriation and burial. You will want to make sure to leave some extra room for unforeseen issues that might pop up. These can cause real financial duress for your family if they don't have money to deal with them.

Finally, make a list of all the assets that can be used to pay off those expenses. How much money does your spouse make? Do you have assets that would be sold at the time of your death, with the proceeds going to your family? Perhaps your employer offers a life insurance policy for you too. Knowing how much your family will be paying in bills and how much money will be available to pay those bills is the easy way to figure out how much to invest in expatriate life insurance.

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