Protecting Your Expatriate Family
If you and your family relocate overseas, one of your first priorities from a financial planning point of view may very well be establishing health care.
Costs and services abroad can differ greatly to what you are accustomed to 'back home'. Therefore it's essential to make sure that you are fully covered.
Starting with straight health insurance for you and your family you may then need to consider both critical illness insurance and income protection. Making sure that you have the important insurances in place will afford you greater peace of mind coupled with greater security as a family.
Personal peace of mind will enable you to get on with enjoying your time abroad and allow you to concentrate on establishing long term financial freedom.
In terms of health insurance, it's essential to make sure that you and your family are covered in your new country of residence and also when travelling.
Always make sure that you are comfortable with any restrictions or limitations of policies recommended to you, and any excess you may be liable for in the event of a claim.
Medical costs differ greatly around the world, as do the standards of treatment available. Find out what services are available in your country of residence, what your expatriate insurance covers you for, and always make sure that you have the option to repatriate in the event of an emergency.
There are so very many companies offering health insurance to expatriates in the marketplace today and all come with features, benefits, exclusions and exceptions.
I would recommend that you speak to a financial adviser to find out what your best options are depending on your personal needs and those of your family.
With something as precious and essential as your health are you prepared to accept second best?
Know what's available and be a smart buyer!
Critical illness insurance
Critical illness insurance can take away stress and financial strain if ever you are incapacitated through serious illness.
Financial expenditure and outgoings will not cease if you are taken ill: your ability to provide for your family will however cease. Critical illness insurance is designed to payout in the event that you are unable to work due to serious and ongoing illness.
Income protection insurance
Income protection insurance may also be available to you and of interest. This insurance is used to replace a percentage of your income if you are unable to work through injury or illness.
As an expatriate living in a 'foreign' country there are many uncertainties, upheavals, unknowns and concerns especially when it comes to fiscal matters.
Life insurance is one of the most important products when it comes to peace of mind. You want to protect your loved ones in the event of your death ? protect them financially and emotionally.
For your family to maintain the same standard of living in the event of your death you have to make sure that you have the correct type and level of life insurance.
The type of life insurance you need depends on what you want to achieve with your policy.
If you simply require insurance against your untimely death for the fixed number of years of your offspring's childhood for example, this can be arranged via level term life insurance.
Decreasing term insurance can be used to pay off a mortgage or other loan in the event of your death during the outstanding period of the loan.
Whole of life insurance is exactly as it sounds ? it covers your beneficiary in the event of your death whenever it occurs.
And annual renewable life insurance can be used by expatriates who wish to insure themselves one year at a time depending on their changing circumstances.
Life insurance policies are available for your whole family and are definitely something worth considering when it comes to financial peace of mind.
Whether you are a new expatriate, an expatriate in a new country, or an expatriate worried about the levels of insurance you have for your family, you shouldn't put off until tomorrow that which you can get done and dusted today!
Yes, insurance is boring!But insurance does bring protection.And protection brings peace of mind.
When it comes to financial and wealth management and making your money work harder for you and your family, the first step is to actually make sure your current position is secured.
We all know that we should have enough in the bank readily to hand to cover a rainy day or an emergency trip back home ? but at the same time we need to look out for ourselves and our family today as well as securing our future tomorrow.
Based on your country of residence, country of domicile, intention to remain or repatriate, and the needs and requirements you have, a financial adviser will be best placed to advise you when it comes to all your insurances and assurances.
Rhiannon Williamson is the publisher of http://www.shelteroffshore.com/ - the online resource for expatriates, international investors and those dreaming of a new life abroad.
Shelter Offshore features three main channels - offshore investment, property investment abroad and overseas lifestyle.
Rhiannon Williamson also offers readers the chance to receive a free financial review or to improve their overall financial planning with 'The Offshore Advantage' http://www.shelteroffshore.com/index.php/shelter/offshore_advantage/ This free guide teaches readers how to build secure wealth using their secret offshore advantage.
How To Negotiate A Settlement With An Insurance Claims Adjuster
You and I. M. Strong, the adjuster from Granite Mountain Insurance, are sitting at your kitchen table in an attemp...(related: Insurance)
Homeowners Insurance Coverage
When deciding on the appropriate amount of homeowner's insurance coverage you must first determine the projected replacement cost of your home. Then you must choose the coverage amount that suits your ne...(related: Insurance)
Tips For Lowering Your Auto Insurance Quote
Do you have many claims? If so, you should do all you can to reduce them or even endeavor to file no claims at all. Why do I bring this issue up in an article about lowering your auto insurance quote? Because the number of claims is the single factor that to the highest degree influences the cost of your insurance premium. Let me give you an example: Let's say you have 5 years of no claim. Most companies will then give you an unbelievable discount of your premium, some of them even 75%! It goes without saying that this is the most powerful way to get che...(related: Insurance)
How Do I Lower My Auto Insurance Premiums?
It seems as though the price of everything is on the rise. The amount a house may have cost in...(related: Insurance)
Why Should You Shop Around For Auto Insurance?
How do you know if what you are paying for your insurance is a good deal? What is a good deal? Is choosing the cheapest company the best way to go? Does buying from the ...(related: Insurance)
Cheap Term Life Insurance Is Available Everywhere
Cheap term life insurance is easier to get than most people think. Dealing with a life insurance company has been made much simpler thanks to the Internet. No more spending hours of precious time with insurance agents. You can get the best term life insurance rate online; you can do it even on your lunch break!Cheap term life insurance on the internet can be found by seeking out ...(related: Insurance)
Life Insurance No Medical Exam - Is It Really Possible?
Quite often you feel that an ad for life insurance no medical exam is trying to rip you off. However, it is possible to get life insurance no medical exam when you shop online for your life insurance needs. It is only a click away on a computer, but you really do need to check to see if life insurance without having to visit a m...(related: Insurance)
Group Term Life Insurance And The Options Available
Group term life insurance is more affordable than individual life insurance policies because the costs to the insurer are lower. They have less paperwork to handle, and are guaranteed multiple accounts from one sale - which is their incentive for offering this type of policy.A group term life insurance policy offers life insurance coverage to all the ...(related: Insurance)
Msa Or Hsa: Can I Keep My Msa Or Do I Need To Convert It Into An Hsa?
The Medical Savings Account (MSA) is an older form of the Health Savings Account (HSA).You cannot open a new MSA. You cannot contribute additional money into your MSA.However, you can keep your MSA as long as you like. When you retire, it will automatically turn into an Individual Retirement Account (IRA) and you can withdraw money from it then for any reason (not just medical).Or, if you don't want to keep y...(related: Insurance)
The Surety Bond Domino Effect
I have written many articles about the hard surety bond market. To my surprise many want to know more details as to how we got to where we are at. Like all industries the surety bond industry is heavily influenced by the economy. We can all remember the strength of the US economy at the end of the millennium; it seemed that businesses were flourishing with prosperity everywhere you turned. By the end of 2000 the economy began to slow down. The success of any contractor is directly...(related: Insurance)
Underwriting Life Insurance For Diabetics And Diabetic Life Insurance Information
Life Insurance Companies differ in their "underwriting philosophy" when it comes to diabetes. Offering life insurance for diabetics can be risky if the underwriters are not fully trained. Underwriters at the insurance companies that are fluent in underwriting diabetes have the ability to look at all of these factors and determine if the company will accept them as a risk. Moderately controlled diabetes cases would usually merit a "rating" or an increase in the premium, but not necesarily a declination for coverage. If the client with diabetes that is looking f...(related: Insurance)