So you have decided to live and work abroad as an expatriot. The lure of life in a new and exciting country has finally pushed you into it.
There are special insurance plans designed for expats living abroad. You have a different set of needs. Insurance products designed for short term travelers aren’t the best for you. Let’s take a look at all the angles:
First of all, package plans are out because you do not need cancellation coverage
As an expat living abroad, you would not need the trip cancellation coverage that is included in package plans. In fact, most package plans are only available for shorter periods of time (30 days for example).
This is a good thing, since much of the cost of a package plan results from the cancellation coverage. Travel medical plan premiums are lower that package plan premiums.
As an expat, you need international medical insurance to cover you in a foreign country
InsureMyTrip.com compares several travel medical insurance plans. These plans are for trips of a week or less, and up to a few years, depending on the insurance company. They often include emergency medical, emergency dental, and medical evacuation.
These plans also include some variables, such as deductible amount, hazardous sports coverage, or home country coverage.
Some companies offer even longer term plans with US style health benefits available worldwide
Specialty Risk International (see disclosure on about page) offers Reside and Reside Prime plans. These policies include comprehensive worldwide coverage, a choice of deductibles, coverage for families and individuals, and up to $5,000,000 in lifetime benefits.