Global health insurance versus local insurance
When moving abroad, it can be vital for people to have a health insurance plan, so it’s essential that expats understand the process and can compare the benefits of each plan.
More and more people are choosing to live abroad, whether temporarily or permanently, and when taking the leap there are lots of things to consider. One of the most crucial things is the health of you and your family. The most important factor is knowing that you will be looked after should anything happen to you in an emergency, or if you develop any long-term health problems.
When relocating to another country, you have two options when looking for cover. You can invest in a global insurance plan before you move abroad, or you can wait until you arrive to make arrangements for your health insurance with a local provider. However, it can be risky to wait until you are living in the country to invest in your healthcare – with so much to organise, it can be pushed to the back of your list and easily forgotten about. Here are the main benefits of choosing a global insurer over a potentially cheaper local insurer:
Specially designed for expats
A global insurer has tailor-made medical insurance plans that are specifically designed to fulfil the needs of expats across the world. People who work abroad regularly or permanently, who are retiring overseas or who travel from country to country for work purposes are better off with an international private medical insurance plan. It will provide complete cover for you wherever you are based and beyond, ensuring you are covered if you travel home frequently or do business in other parts of the world.
More cover than local health insurance
If you choose to buy health insurance once you arrive in your new hometown, you risk downgrading your level of cover. Worldwide insurance has a much broader coverage, making sure you’ll be covered when travelling home – local insurance will very rarely cover you for incidents outside of your country of residence, and this is why it is often cheaper. Global insurers usually offer many more benefits too, such as the option of where to be treated and specialist care. If a local health insurer’s policy seems too good to be true, it probably is – don’t wait until an emergency to find out.
Be covered in advance
If you wait until you are living in your new home to protect your health, you may end up having to pay large fees if you need to see a doctor or go to the hospital. It’s easy to buy your health insurance from a global insurer before you move, and you can rest assured you’ll be covered from the moment you set foot in your new country of residence. If nothing else, choosing an international plan gives you peace of mind.
Expatriation and repatriation
Most global health plans will allow you to continue treatment in your country of nationality if you choose to do so. It will cover the costs of repatriation and expatriation so you can focus on your recovery and be with your family if you need to.
While buying private health insurance from a local insurer may be the cheapest option, it may not be the safest option for you and your family. Always be prepared should the worst happen, with global health insurance.
For all your global health insurance questions, go to the William Russell website, or call our dedicated team on +44 (0) 1276 486455.