What to Look for in a Global Health Insurance Policy

Contributed by Expat Financial, 03 October, 2019

Moving or already abroad is a big deal. You and your dependents will be faced with many challenges and excellent experiences as well. One of the most important decisions you will make as an expatriate is how to cover your medical expenses abroad and when you visit your home country. It is easy to feel overwhelmed by the choices and compare different policies with insurance terms and fine print. It can be difficult deciding what your requirements are and which insurer finally proceed with. There's lots of information on the internet, but we have tried to put together some basic and easy to understand considerations and tips that should apply to most expats. Here are three steps that should assist you in your international health insurance search.

Step 1: Ask Yourself If You Need Long-term or Short-term Health Coverage?

You will need to ask yourself if you are going abroad for under a year and simply need emergency only travel medical insurance, especially if you are retaining your residence status back home along with your private or public healthcare. Generally, if you are moving overseas for a year or more, it is highly likely you are going to lose your healthcare back home and become an official residence abroad. You will need to get a global healthcare plan as the local coverage in your new destination country will often have the following disadvantages:

The bottom line is that a global healthcare plan is more often than not the best solution for most expatriates.

Step 2: What Plan Benefits Should Expats Consider?

OK, this is where is gets difficult. You need to match your needs with the best policy coverage that you can afford. If you are lucky, your employer may be covering the costs so you will probably get the best plan available. Most expat health plans will offer you several different deductible and coverage levels with the ability to add options such as dental, vision, evacuation and access to care in the USA.

We have tried to put together several important tips and points to consider when you are buying a global health plan:

Step 3: Talk to a Broker Such as Expat Financial to Review Your Requirements

It makes sense to talk to our firm to review your requirements and search out different high quality plans via one portal at Expat Financial, which is a division of TFG Global Insurance Solutions Ltd. and delivers independent and impartial advice and quotes at no extra fee. You get the same rates and coverage if you go direct, but you get our free service before and after you purchase. All premiums and claims are direct with the insurers we work with. Our firm is paid a referral and we provide valuable service for the life of the policy. Our firm has more negotiating strength with the expat health insurance providers because of the large number of clients we work with.

You can obtain a quote via our website at: https://expatfinancial.com/international-insurance-financial-plans/ for global health plans we offer online and even offline. Our firm can also source group global benefit plans for companies sending three or more expat employees abroad. You can even contact us to get a quote for expat disability and life insurance.

Get Quote Here


About the Author:

David Tompkins is President of TFG Global Insurance Solutions Ltd., which owns and operates Expat Financial, a well regarded and respected source for individual expatriates and expat employers who require global health insurance, expat life and disability coverage and global travel insurance. David has written, spoken and been interviewed extensively about global health insurance, including by the NY Times and Globe & Mail.

Tags: Expats | expatriates | employees | Insurance | China | services | public health | insurance | internet |

 

 





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