Dec 2, 2013

Posted by in Adventure, Travel Tips | 88 Comments

Understanding Expat Insurance What It Is And Why You Need It

Understanding Expat Insurance What It Is And Why You Need It

If you have been looking into the possibility of living and working in a foreign country or if you know for sure that you do have a position with a foreign country and accommodation to stay in; you may have heard of the phrase expat insurance.  If insurance confuses and baffles you enough as it is without adding an addition al form of insurance you will likely be interested in what expat insurance actually is.

What Exactly Is Expat Insurance?

Expatriate Healthcare insurance is a special form of insurance especially suited to UK residents who wish to work and live abroad.  It enables you to get access to the best healthcare possible for both you and any family living with you and covered in the policy.  A normal domestic insurance policy may not cover you fully for the time you will spend abroad.  Whereas, a policy with a foreign insurance company may be too expensive and not offer the same level of cover as a more specialised expat policy plan.

Why Do I Need Expat Insurance At All?

As the quality and standards of healthcare vary throughout the world, you may move to a country where the standard of healthcare and medical facilities are not as good as the standard you were used to in the UK.  It is also likely that as you and your family would be considered foreign nationals, you would not be entitled to any subsidised or free medical healthcare.  Additionally, the cost of healthcare in countries outside of the United Kingdom can be far more expensive than back home.

What Does Expat Insurance Cover?

A good insurance company should provide as standard protection for any hospital stays and treatment.  It should also cover consultation fees as well as any surgeon and accommodation fees.  Additionally, cancer, outpatient and inpatient treatment is also covered.  Depending where you are going and any other additional risks connected with your destination, you will be able to work out with your insurer a policy that fits the specific needs of you and your family.  Upgrades and add-ons that you may want in your insurance cover include maternity specific coverage.  International outpatient coverage will give you more extensive cover that includes prescriptions and doctor or general practitioner visits, which can also be very expensive abroad.  You can also add to your policy things like dental, vision, well being and health benefits and medical evacuation.

How Much Does Expat Insurance Cost?

The cost of any insurance policy will depend on the plan and the insurer and also the individual needs of the person purchasing the insurance.  Although some insurance companies may offer you cheaper policies than other companies, the range and scope of coverage they offer for the lower price may be less and not as appropriate for your needs.  This is why it is so important to research thoroughly the policies and premiums offered by a wide variety of insurance companies.

 

 

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