"Expatriate insurance" is a term used to describe several different types of insurance polices that provide protection for individuals who are living and working in an international setting. Coverage of this type is typically arranged in advance of moving to another country, and provide protection for everything from medical and personal liability insurance plans to resources that can be called into play in the event that an emergency evacuation becomes necessary.
The scope of expatriate insurance will vary, based on the needs of the individual who will be living and working abroad. Typically, the coverage is obtained when domestic insurance plans do not provide coverage for extended periods outside the country of origin. This means that while an individual may have excellent domestic benefits with a given insurer, that same level of benefits are not provided under the scope of coverage when the individual is working outside the country for six months or longer.
There are several types of insurance coverage that are usually included in a truly comprehensive expatriate insurance plan. These include auto coverage for personal vehicles that are purchased and used while abroad, and health insurance that provides a full round of medical support for everything from routine doctor visits to hospital stays. In many instances, dental coverage is also bundled in with the general medical coverage. Expatriate insurance may also include personal liability insurance that comes in handy should the actions of the insured party create some sort of loss for others who work and live in the area in which the party is based.
One of the more important aspects of a total expatriate insurance package is the inclusion of emergency evacuation coverage. This type of protection may be used in situations that require the immediate vacation of the host nation and a return to the individual’s native country, such as a political coup, the initiation of a war, or some other event that threatens the safety of the expatriate. Depending on the terms of the coverage, the plan may also cover expenses related to allowing the individual to leave the nation quickly due to a family emergency, such as a severe health crisis or a death of someone in the immediate family.
In terms of cost, the scope of coverage provided in the expatriate insurance package will determine the total premium that is tendered for the protection. Some providers may offer discounts based on bundling several different forms of insurance under one central plan, while others offer discounts when the premium is paid in advance for a period of six months or more. As with all types of insurance plans, individuals who are in need of expatriate insurance should compare offerings from several providers, and go with the one that offers the best range of benefits for the most competitive pricing.
