Living abroad can be exciting, but it also takes some getting used to. Expat insurance gives you one less thing to worry about when it comes to dealing with uncertainties and emergencies.

What Is Expatriate Insurance?

Expatriate insurance refers to a set of policies designed to safeguard against the unique challenges that come with living and working abroad. Expatriates or “expats” are individuals who move outside their native country for long-term work or retirement. They differ from immigrants in that they ultimately intend to return home in the future, but there’s no set time frame for what constitutes an expat. These individuals could be living abroad for anywhere from a few months to several years on end.

During your residence abroad as an expatriate, you may face differences in healthcare, the need to travel home from time to time for various reasons, and diverse legal requirements for your residence in the host country. Expat insurance policies are designed to keep you protected wherever life takes you.

What Does It Include?

Important to note is that “expat insurance” is not a separate product in and of itself. This term refers to two distinct forms of international insurance: International Health Insurance and International Trip Insurance. Together, these can be bundled into packages that make it easier for travelers to access the care and protection they need while abroad.

International Health Insurance for Expats

Both emergency and routine medical care coverage falls under international health insurance for expats. It’s not enough to simply rely on the general coverage within trip insurance. Expats need more extensive protection, especially considering that they’ll be living abroad for an extended period of time. While every plan is different, many international health insurance policies cover:

Routine medical care (annual checkups, visits to the doctor for non-emergency care, etc.)
Preventative care
Elective medical procedures
Prescription medication
Care for individuals with pre-existing conditions
Dental Care and Vision (available as policy add-ons)

As someone living abroad, it is advised that you stay on top of your medical care throughout your stay. Lapses in routine and preventative screenings can be dangerous and may lead to medical emergencies later on.

International Travel Insurance

In another category of its own is international travel insurance. This is also necessary for expats, as they’ll be traveling outside their home country and will need to account for the risks that come with this. International trip insurance policies typically provide coverage for

Who Are the Expats that Need Insurance?

Individuals and families living overseas require international health and travel insurance to deal with the unique challenges associated with expat life. Here are some of the groups and types of people who need expat insurance:

Professionals working overseas need it to access quality medical care without financial strain
Families relocating abroad need comprehensive coverage for all members
Retirees living abroad require it to cover medical needs
Remote workers and digital nomads transitioning to expat life when they choose to stay in a single location for an extended period.

Differences Between Expat Insurance and International Travel Insurance

Both types of insurance address health and travel coverage needs for individuals abroad but remember, expat insurance is essentially a combination of both international travel and health insurance. What’s more, it is intended for people planning on living abroad for extended periods of time.

Standard international travel insurance is designed for short-term trips abroad, generally covering emergency care services as well as travel-related risks. However, it does not adequately cover long-term stays and the unique needs that come with living abroad for an extended period.

The type of insurance policies one would take out as an expat are designed for extended stays abroad, usually longer than 6 months. The policies offer more comprehensive healthcare, going beyond emergency needs to include preventive and routine care and chronic disease management. Depending on the plans you get, you can get coverage in your host country and also your home country for short-term visits.

Why You Need International Health Insurance

Although travel insurance covers a wide array of situations and circumstances, just having that is not enough. Travel insurance is sufficient for travel-related accidents and emergencies, but it falls short of meeting all medical needs in a foreign country; this can lead to high out of pocket expenses.

Getting local healthcare coverage in a foreign country is challenging and can be extremely expensive. Some countries may lack advanced medical infrastructure and cannot therefore meet high-level healthcare requirements in some cases.

With international health insurance, you get to access medical services in your host country without paying out of pocket. Furthermore, you get additional benefits such as medical evacuation and repatriation when necessary. It also covers mental health care, pre-existing conditions, routine medical checks, and long-term treatment.

Considerations When Choosing Your Plan

Country-Specific Requirements

Healthcare insurance requirements vary from one country to the next and failure to meet them can result in legal issues or visa denials. Check for requirements like minimum coverage level, proof of insurance, and whether supplemental insurance is mandatory.

Insurance for Families

If you are moving abroad with your family, you need a plan that will accommodate everyone’s needs. Find out whether the policy includes dependents and if there is a family discount or bundled coverage. If pediatric or maternal care is relevant, choose a policy that offers the necessary coverage.

Mental Health and Wellness

Living in a foreign country for a prolonged period, away from family and friends, can take a toll on your psychological well-being. Choose a policy that covers counselling, therapy, and psychiatric needs.

Frequently Asked Questions

1. What happens if I move to a new country?

Many expat plans are designed to be portable, allowing you to maintain coverage even when relocating to another country. Check if your policy is limited to a specific geographic location or whether it offers global coverage.

2. How do I add family members to my policy?

Most policies allow you to add your spouse, children, and other dependents to an existing policy. Find out the requirements for doing so and review the premium changes that come with it.

3. Do I need expat insurance if I have local insurance?

Local health insurance often has significant limitations outside the country as it is typically confined to your home country. Expat insurance has the protection you need for global coverage as it takes the unique needs of an expat lifestyle into account.

Find the Best Expatriate Insurance Cover with Friendly Global

For the past 25+ years, our team at Friendly Global has been in the insurance industry and has a wealth of insight and experience into your needs as an expatriate. We understand the importance of safeguarding your finances, your well-being, and your peace of mind while working and living abroad.

To this end, we are equipped to help you identify the most suitable expat insurance coverage, providing the perfect balance between cost and benefits. Get Your Quote. or visit our FAQ page for any other questions you may have.