• Expatriate Health Insurance Blog

  • Monday, July 24, 2017

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)

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