10 Great reasons to become an expat in the Caribbean

Located on the east coast of Central America, the Caribbean has 17 dependent territories. Though small in total size, the Caribbean has a favourable tropical climate, a mixture of culture with different influences such as French, Spanish, and English, as well as beautiful beaches that make this region a natural choice for expatriates to live, work and retire. The natural beauty of the Caribbean attracts millions of travellers and expats visiting the Caribbean each year. In this article, we will discuss 10 great reasons to move to the Caribbean and become an expat. This includes people to move to the Caribbean for work, long-term travel or retirement.

1. Pleasant Weather 

The climate of the Caribbean is tropical to subtropical, with year-round sunshine and moist wind. The rainy season starts from May to October, while hurricanes occur between June and November. The average temperate is around 28 to 30 Celsius. The hurricane season is from July to October can bring powerful storms to your island, so it is critical that you obtain a property with adequate storm protection. You may want to exit the Caribbean in the Summer months when the humidity and heat can be quite extreme. Many expats will choose to return to their home country to see family members during this time.

2. Natural Beauty 

The Caribbean is well known for its beautiful island life and excellent beaches. You can experience impressive beaches such as Shoal Bay in Anguilla, Palominos Island in Puerto Rico, as well as Eagle Beach, and Nassau. They all have warm waters and white sands. It really is a natural paradise for beach lovers.

3. Diving and Water Sports

The Caribbean islands are full of marine life including turtles, rainbow coloured fish, coral, reefs, and dolphins. Diving is definitely a great activity for tourists and expats. For experienced surfers, long coasts and tides in the Caribbean will provide an unforgettable adventure. There are also many surfing training classes on the islands for new surfers.

4. The Caribbean Cuisine 

The Caribbean cuisine has many influences from Africa, EuropeLatin American and Spain. Local restaurants prefer to use a kind of green herb and olive oil as common ingredients, as well as coconut, potatoes, bean, and tomatoes. Meats and seafood are widely consumed on the islands. In Jamaica, one of the most popular dish is Saltfish, served with ackee fruit, which is the national fruit of Jamaica. Ackee and Saltfish is the national dish of Jamaica, but a favourite for locals and expats alike is Jerk Chicken. Many expats and locals will enjoy an island staple called Conch, a tropical mollusk that is quite common on the islands.

5. Friendly People and Culture 

Residents living on the islands come from different countries and cultures all over the world. As a multicultural community, you will hear different languages such as English, Dutch, Chinese, and Spanish. As a result, it is all the more likely that you will encounter your native language spoken on the islands. The people in general are very friendly and welcoming.

6. Favorable Tax Structures

Unlike many countries in the world, most of the islands in the Caribbean have desirable tax rates for both companies and individuals living there. Known as one of the most chosen tax heavens by many expats in the world, the Caribbean islands provide financial privacy and little or no tax policy. One of the most used nations in the Caribbean is the Cayman Islands. Offshore corporations do not need to submit financial reports to any Cayman government. Besides, for international business companies, the Cayman Islands have no income tax nor corporate tax. The other popular option is Panama. The level of security and privacy of account holders in offshore banking services attracts many expats from all over the world.

7. Accommodation

There are many all-inclusive resorts on the islands, as well as a variety of accommodation types no matter you are looking for luxury hotels or a budget place. To rent an apartment in the Caribbean, for example in Anguilla, a two bedroom and two bathroom apartment located in Crocus Bay Beach costs USD $750 per month, according to Sublet.com. Properties on Ambergris Caye, Belize, can be found around USD $17,500. It is important to talk to an experienced real estate agent on the islands that you are thinking of living in as he or she should be able to find a home or condo that can meet your budget should you wish to buy or rent.

8. Best Islands to Live On

There are more than 7,000 islands in the Caribbean and they belong to at least 28 nations. Many people recommend destinations such as BahamasBVIAnguilla and  Barbados. Many will move to the Cayman Islands or Turks & Caicos, which are considered great islands to live and retire. These islands are also quite safe and well run.

9. Family Friendly Activities 

The Caribbean offers a range of family-friendly activities to expats and tourists from beach activities and boat fun tours. These kinds of arrangements will keep your children busy so that they won’t get bored while you are out enjoying yourselves.

10. Affordable Living & Lifestyle

Generally speaking, the cost of living on the islands is reasonable and affordable. The accommodation on most of the Caribbean nations are relatively inexpensive when compared to western countries. Local produce is also low-cost. Expats planning to retire in the Caribbean would want to consider Panama – as they use US dollars and is very affordable on pension income for retirees.

Don’t Forget to Bring International Health Insurance with You 

Expat Financial has a great deal of experience in sourcing international insurance plans for individual expatriates and even expat employers in the Caribbean. We can also source global medical coverage for select local nationals in the Caribbean that will allow for global medical coverage that includes the United States. Most expats in the Caribbean will want to consider an international health plan that will cover them for treatment in the USA as local hospitals may not have the level of medical care that is necessary for many illnesses. Also, most local plans will only cover you on the island or provide very limited off-island care. The expat healthcare plans are available via our firm from a variety of international insurance companies.

Here is a list of different types of insurance coverage you will want if you are planning to become an expatriate in Panama:

There are a hundred reasons to live, retire and work in the Caribbean. If you require a quote for the Caribbean expat insurance, contact Expat Financial today for a quote.

Hiring the right expat employee

Nowadays, more and more people are planning their career overseas. As many organizations have gone global, the good news is that employers are looking for expat employees all around the world. In this article, we will discuss how to hire the right expat employee.

Are You Hiring For an International Assignment?

When your organization or company is expanding abroad, the first thing to do is to decide who will be in charge of foreign operations. You can either send a current employee overseas or you hire an expat. According to research from the Harvard Business Review, only 11% of the HR managers have ever worked abroad themselves. Most of them have little understanding of a global assignment’s challenges. This indicates that organizations need to engage in efforts to make expat assignments both beneficial for expat employees and the company.

For certain occupations, expat professionals with experience in international business will fulfill specific expectations. More importantly, employees with cross-cultural backgrounds will be more likely to live and work comfortably in different cultures overseas. In general, according to Doris Fullgrabe, the six characteristics of a successful expatriate employee would be having:

  • Managerial skills
  • Augmented skills
  • International knowledge
  • Cultural flexibility
  • Communication skills
  • Collaborative negotiation style

What is Required for Hiring Expat Employees?

  • In many countries, foreigners need to obtain temporary work permits before they are hired on a temporary basis
  • If you would like to hire expat employees for full-time permanent positions, you will need to complete the permanent residence process as an employer
  • Work with legal professionals to draft expat employment contracts, and prepare a copy of the contract in the expat employee’s native language
  • In certain countries, if you want to hire expatriates, it is the responsibility of the organization to get a work permit your employees
  • Pay attention to tax deductions. In some cases, the employer is responsible for submitting the individual tax income to the tax authority;
  • According to local employment laws, there are mandatory benefits contributions to expat employees

How to Manage the Payroll of an Expat Employee

  • Manage the payroll through a vetted entity in the host nation
  • Outsource your payroll operations to a third party
    • We recommend using ShieldGeo if you would like to outsource your payroll responsibilities
  • Run the payroll required for a specific nation remotely through your company’s head office

The Benefits of an International Group Insurance Plan

Sending expat employees overseas is a huge financial investment for any organizations. To ensure a successful expat assignment, expat employers will want to obtain an international expat group insurance plan. A tailored, flexible international expat group insurance plan will not only protect expat employees, with coverage for pre-existing medical conditions and high-risk countries; but will also attract and retain employee talent and protect the employer’s business. To read more, please check out “The benefits of an international group insurance plan.”

As international insurance specialists, we can help you define your organization’s international group insurance requirements. Expat Financial offers independent advice, solutions and ongoing service and support to clients around much of the world. We source plans from large and secure global insurance companies. Our firm can offer a wide array of insurance plans including International Life Insurance, War and Terrorism CoverageExpat Disability Insurance, International Health Insurance, Kidnap & Ransom Insurance, Travel Medical InsuranceEvacuation Coverage.

For more information, Contact Expat Financial today if your organization has gone global.

The top 5 countries to raise expat children in

Are you planning to move abroad with your family? According to a recent survey report, the top 5 best countries to raise expat children in 2017 are Switzerland, Canada, United Kingdom, Germany, and Japan. The rankings are based on various factors such as quality of life, political influence, business friendliness, cultural heritage, entrepreneurship, and ease of obtaining citizenship. In this article, we will introduce these top 5 countries to raise expat children abroad.

  1. Switzerland
  • Introduction: Switzerland is among one of the most developed and wealthiest countries in the world. Bordering Germany, France, Austria and Italy in Europe, Switzerland ranks at top globally for its quality of life, government stability, healthcare standards and economic development. The overall standard of living is high.
  • Healthcare: Medical services are considered to be of the highest standards in Switzerland. Expats living in Switzerland will find many English speaking medical staff and doctors. However, expats are strongly recommended to purchase international health insurance plans before relocating to Switzerland, especially for those who plan to give birth in the country.  International health insurance will fully cover the medical costs of giving birth, including medical check-ups to baby’s hospital stay, plus post-natal care. Without appropriate health insurance, the medical bills can be very high.
  • Safety & Security: Switzerland has been consistently obtaining high marks for safety and a healthy lifestyle. According to the Government of Canada, the public transportation in Switzerland is excellent. Expats living in Switzerland should exercise normal precautions as petty crime could happen in public areas.
  • Children’s Education: According to the survey, the education system in Switzerland gets top marks on a global scale. This is not only because the schools in Switzerland cater to international families, but also the flexibility of its education system. According to The State Secretariat for Education, Research and Innovation (SERI), each of the 26 individual regions has its own education department and own school curriculum. Local state schools are free of charge. However, many expat families prefer international schools to help their children with the ease of transition and continue their education in a familiar language and curriculum.

        2. Canada

  • Introduction: Known for its cultural diversity and natural beauty, Canada is the second largest country in the world. Few countries can compare with the geographic diversity of Canada. The official languages are English and French. Canada is a high-tech, developed country with a high standard of living. The country’s economy mostly relies upon energy, agriculture and minerals.
  • Healthcare: The provincial medical plans provide Canadians with excellent emergency and non-emergency care, and it is publicly funded. Expatriates who are not covered by provincial medical care should obtain international health insurance plans. The medical cost for inpatient care at hospitals without it can be very expensive.
  • Safety & Security: Being one of the safest destinations in the world, the crime rates in Canada are low. Expats living in Canada should maintain common-sense precautions however, such as not leave valuables unattended to protect the security of your property.
  • Children’s Education: The standard of education in Canada is high. There are many public-funded schools and private schools including language schools, career schools, community colleges and secondary schools. Since Canada is a bilingual country, English and French language schools are available throughout the country.

        3. United Kingdom

  • Introduction: The United Kingdom contains four countries united under one government. The countries are England, Scotland, Wales and Northern Ireland. With an area of around 242,500 square kilometres, the nation has a population of 65.1 million people. The capital and the largest city of the United Kingdom is London. There are also many cultural heritage sites across the UK, due to the nation’s long and rich history.
  • Healthcare: The healthcare service in the UK is generally of high standards. It provides patients with primary care, in-patient care, dental care, etc., and it is free of charge. There are also private medical facilities throughout the country. Most expatriates living in the UK would want to seek medical insurance coverage globally. Additionally, it is important to obtain an international health insurance plan that will allow the private medical facilities access, due to long queues at public facilities.
  • Safety & Security: The public transportation in the UK is excellent. According to Government of Canada, the risk level of travlling to the UK is “exersise a high degree of caution” due to the threat of terroroisim. Although terror attacks can strike in any nation, due to the recent increase in attacks across Europe, expats should be weary of the increased risk.
  • Children’s Education: More than a quarter of the world’s top 200 universities are located in the UK. The education system in the UK is famous for its high quality, excellent education methodologies and research facilities, as well as academic freedom. Across the UK there are five stages of education: early years, primary, secondary, further education and higher education. After a student reaches the age of 16, he or she may choose to continue studying. Further Education is not compulsory. The UK school system is more lecture-based, with a few assignments throughout the semester. The cost of education in the UK is high, but not as expensive as in the US, as the government sets limits for tuition fees.

4. Germany

  • Introduction: With a total population of 82,667,000 people, Germany is a leading European country. As the world’s second-largest exporter, the standard of living is high in the nation. The Official languages in Germany are German and English. The high-income capital city is Berlin. Germany is also known as one of the most industrious countries in Europe, with major industries including automotive engineering, technology, and pharmaceuticals.
  • Healthcare: The healthcare system in Germany is excellent. The government-funded public medical care system provides healthcare services and products to patients, and the private medical facilities make a considerable contribution to society. The medical staff and doctors in Germany have usually received extensive medical training. Many expatriates living in Germany will want to obtain international health insurance plans to cover their medical costs in private healthcare facilities.
  • Safety & Security: Violent crime in Germany is low. There is no nationwide advisory in effect for Germany, according to Government of Canada. Expatriates living in Germany should exercise normal security precautions if attending large crowds events or visit local markets.
  • Children’s Education: Germany’s education system is different from the ones in many other countries. Lectures in public schools are usually taught in German, where expat children will gain a high academic ability of German. After grade 4, the students are separated by their overall academic performance and are divided into three different kinds of schools: Realschule, Hauptschule or Gymnasium. Realschule focuses on theory learning from grades 5 to 10. Hauptschule focuses on practical skills more than theory. The Gymnasium is a path to the university. The education system in Germany is different from state to state. There are also many international schools. Among these private schools, Montessori education is one of the most popular teaching models in Germany.

5. Japan

  • Introduction: Located on the east coast of Asia and southwest to Taiwan, Japan is an island nation in the Pacific Ocean. The capital city of Japan is Tokyo, with a population of approximately 9 million people in the area. The country has one of the world’s largest economies, and is famous for its highly skilled workforce and fast pace. As a developed country, expatriates will enjoy a high standard of living in the city. Also, Japan’s population enjoy the highest life expectancy rate in the world.
  • Healthcare: The healthcare system in Japan is among the best in the world. The universal health care insurance system offers citizens with fees set by the government. The healthcare insurance is mandatory and is required by law to all residents. However, hospitals are privately run and owned. Expatriates living in Japan for under a year is suggested to buy international health insurance to cover the medical cost.
  • Safety & Security: There is no nationwide advisory in effect for Japan, according to the Government of Canada. However, after the strong earthquake on March 11, 2011, reconstruction efforts are ongoing at Iwate, Fukushima and Ibaraki. Therefore, some transportation routines may be unavailable. Expatriates visiting these areas will want to make sure that you have secured accommodations and transportation. The overall crime against foreign nationals is low. Expatriates are advised to exercise normal levls of caution throughout their stay in Japan.
  • Children’s Education: According to a recent study, the Japanese education system leads the world in numeracy and literacy skills. The Japanese school system consists of 9 years of compulsory education period and 3 years of senior high school. There are many after-school workshops where students will learn more than in the regular classes. According to a recent survey, nearly 85% of the students feel happy in school.

Don’t forget International Health Insurance 

Expat Financial offers several different international health insurance plans for expatriates across the world. We offer plans from several different international health insurance companies that are designed for foreign nationals living outside the country for which they hold a passport or some local national living outside the US or Canada. We also offer excellent service before and after you purchase your international health insurance plan. If you have questions about our international medical insurance plans or if you want to discuss your needs and produce a customized quote, please contact us or complete the quote form.

Why is expat health insurance so important?

Many expats traveling worldwide do not realize that the cost of medical treatment overseas can be extremely expensive. Expat health insurance is a great solution not only to protect you and your family’s well being but also to avoid an impact on your finances. In this article, we will discuss why expat health insurance is important and how to acquire proper coverage.

Global Multiple Countries Coverage

Many international health insurance plans can cover expats in multiple countries. And the plans usually have many benefits and offer customization that can influence the premium you pay. This is very important for travelers and expatriates living and working overseas. As a foreign national, you and your family members are generally not covered for medical treatment abroad. No matter where you are, or you wish to travel elsewhere for medical treatment, most global medical plans will offer medical coverage all over the world either including or excluding the USA.

Financial Security 

In most of the countries around the world, expats are required to prepay the cost before receiving medical treatment, and some of the medical procedures can be extremely costly. With an adequate expat international health insurance plan, you will be protected from any short and long-term medical expenses including emergency evacuation and repatriation. It will help you avoid the financial risk of uninsured medical costs while living and working overseas. Besides, most of the insurance providers have developed trustworthy medical network centres and medical staff worldwide. This will be able to keep pace with you and your family as your medical needs change. If you wish to be able to seek medical treatment in the United States, you should get the USA coverage option, but this will increase your premium.

Flexible Plan Design

International health insurance is usually easy to adjust to challenges with a variety of individual and family health insurance needs such as life insurance, disability, and more. If you are an employer sending your employee overseas, an international group health benefits plan and insurance solutions will help retain talented employees. Please also read our blog post “The Benefits Of An International Group Insurance Plan.” 

Aid Workers, Missionaries and NGO Organizations

Whether you are traveling overseas for a short missionary assignment, volunteer position or a long-term aid worker assignment, it is vital that you obtain a global travel insurance or expat health plan that will adequately cover your stay overseas.

How To Acquire International Health Insurance 

Expat Financial offers several international health insurance plans for expatriates across much of the world. Our insurers will help provide you with peace of mind during your stay overseas. We are also able to source international health insurance for Non-Governmental Organizations around the world sending aid workers overseas.  The insurance companies that we work with also offer excellent service before and after you purchase your international health insurance plan – our firm can also assist as your independent advocate. If you have special questions about our international medical insurance plans or if you want to discuss your needs and produce a customized quote, please contact us or complete the quote form. The Cigna Global Health Options plan is our most popular international health plan for expatriates.

Expatriates can face higher rates of mental illness

Living abroad as an expatriate can be very rewarding and exciting for an expatriate employee and his or her family members. However, many expatriate employees often face culture shock, homesickness and social isolation. There is often a lack of support for expats, and it can be more challenging to cope with living in a new country and culture. Many expatriates and their family members can be faced with mental illness – including stress, depression and anxiety. It is vital that an expatriate employer make sure that the group expatriate insurance plan contains coverage for mental illness. Unfortunately, many international health plans will exclude mental illness and substance abuse related claims. It is vital that individual expatriates and their employers obtain a plan that will cover these claims. Having mental illness coverage might cost a bit more, but the savings from unpaid claims and a failed expat assignment can more than offset the costs of covering such illnesses.

Being away from your normal social circle is particularly difficult in cases of depression and many expats and their family members probably suffer in silence. It is critical that one seek out professional help as soon as possible. An expatriate Employee Assistance Program (EAP) can be a great addition to an expat health plan. Some expatriate insurance plans can include an EAP program that is specially designed for globally mobile employees overseas. An insurer can also provide a list of mental health providers who are recommended for expatriates, especially ones who speak the same language.

Mental health is now in the news again because of Robin William’s recent suicide. It is vital that all those who suffer from mental illness not suffer in silence and seek medical treatment and support. For more information on individual and group expat insurance coverage, contact Expat Financial today.

How to save money on your international health insurance premiums

Living overseas is often an expensive endeavour for individuals and families who plan to work, retire or travel abroad for over one year. Perhaps the most important decision before you live abroad or even if you are already an expat is what global health insurance you should obtain, the insurer you will choose and the plan coverage options. There are lots of expat health insurance companies and providers to choose from and endless insurance options that can be very confusing for expatriates. As an international insurance brokerage firm with extensive experience and knowledge in this domain, we have put together six ways expatriates can save on their international health insurance premiums & coverage. It should be noted that these tips apply equally to both group and individual global health insurance premiums.

#1. Choose a Larger Deductible

A deductible is what you pay before the insurance company pays a claim. Generally, the deductible is per policy year, or you may have a small co-pay for each claim. For expatriates wanting to save on their global health costs, the easiest and most effective way to save on global health premiums is to select a larger deductible. The larger the deductible the lower the premium and vice versa. Some expats that we work with will select a $5K or $10K deductible as they do not think they will ever claim or live in a country with low medical costs.

#2. Exclude Coverage in the USA

Plans that include full medical care in the USA are almost always more expensive than plans that exclude the USA. Most American expatriates will want a plan to include care in the United States as they will want to receive care there for any serious medical claims. However, excluding care in the USA can save an expat somewhere between 40% or 50% in their medical premiums for some expats. If you do not wish to be able to seek medical care in the States, it makes sense not to choose the USA coverage option. If you are living in a country close to the USA, it may be wise to add the option as you may want to see medical care there, especially in the case of an evacuation.

#3. Pay your Premium Annually

We find that most expatriates like to pay their premiums monthly as annual premiums can be quite large, but if you can afford to pay annually, you can often save between 5% to 10% per year on your global health premiums. You can also pay semi-annually for additional savings over paying monthly.

#4. Self-insure Out-patient Care

Most global health plans will include a base policy that covers claims related to hospital care. You will have the option to choose to add out-patient care for an additional fee. Out-patient medical will cover medical claims that are incurred outside a hospital admission – such as doctors visits & consults, medicine, physiotherapy, psychology, wellness, medical tests and scans, dental accidents, vaccinations and more. However, many expatriates live in countries and regions where medical care is quite inexpensive, especially for out-patient claims like doctors’ visits. Excluding out-patient modules can save an expatriate many hundreds of dollars in premiums per month and is certainly something to consider.

#5. Add Coinsurance to your Plan

In addition to having a larger deductible, some plans will allow you to add coinsurance to your plan. Coinsurance is the percentage that you as the insured member pays in the event of a claim. The higher the coinsurance level, the less risk you are taking and the higher the premium. For example, if you have a coinsurance level of 80%, you would be responsible for paying 20% of claims – usually up to a maximum out of pocket amount. A 90% coinsurance level would be more expensive, and if you are covered at 100%, you don’t have to pay a portion of the approved claim. The coinsurance is active after the deductible has been satisfied.

#6. Choose a Lower Level of Coverage from the Insurer

Most expat health plans will have 3 or 5 different levels of coverage with varying degrees of care maximums and services covered. For example, the Cigna Global Health Options plan that we offer have three levels: Silver, Gold or Platinum. As you would guess, the least expensive plan would be the Silver plan, which will have much lower levels of care without maternity coverage.

Things to Consider When Choosing Your plan?

Are there more ways to save money on your international health insurance? Yes, but these generally involve you taking on a lot more risk with minimal premium savings. We recommend that you purchase the best possible global health insurance plan that you can afford. In the end, you generally get what you pay for. To learn more about the global health plans that we can offer individual expatriates, please contact us or get a quote online today. We would love to discuss your international health insurance needs and the ways that you can save on your health insurance costs.

Expat Tokyo - Why you need international health insurance?

The ultimate packing list for long-term relocation abroad

Top 7 Packing List for Expatriates Relocating Abroad

After you have done your research on your destination country’s healthcare, housing, and job market, you are ready to pack and move. The process of packing and loading can be very stressful and tedious. In this article, we will discuss our top 7 tips for creating the ultimate packing list for long-term relocation abroad.

1. Important Records and Documentations

Pack important records and documents such as airline tickets, passports, visas, your children’s school records, shipping documents, medical records, etc. in a safe place. Some crucial documents require both the original and a copy for each of your family members. Please make sure that you have packed you and your family’s:

  • Birth certificates
  • Passport and Visas
  • Medical records
  • Health Insurance documentation
  • Mediation Prescriptions
  • Credit Cards
  • Immunization records

2. Medical Supplies

Pack medications that you may need as soon as you step on the new city. If you have a medical condition that required continued medication, make sure you pack enough medical supplies. This will save your time and money in finding new substitutes in a new country. Other essential medications include:

  • First aid kit
  • Anti-allergy medicine
  • Prescription medicine
  • Water purification tablets
  • Tylenol for Children’s fever

3. Electronics

Proper electronics will be a necessity during your trip and expat life. Please check these essential electronics before you go:

  • Flashlight
  • Camera
  • Home appliances (optional)
  • Laptop
  • Voltage converter
  • Portable charger
  • Smartphone
  • Headphones

 

4. Clothes

It is important to not only know where you are moving to but also what activities you want to do in your new destination when packing clothes. Below are the suggestions:

  • Sunscreen and sunglasses
  • Dresses or Suits
  • Bathing suits
  • Pyjamas
  • Sewing kit
  • Disposable towelettes
  • T-shirts
  • Winter coats
  • Socks & Jeans

5. Shoes

When packing, it is important to consider what footwear will be most appropriate for your various activities and destinations. Whether you are going to a meeting or hiking Kilimanjaro, it is critical that you plan ahead so you don’t find yourself wearing your trainers to close that deal.

6. Place Large Signs on Household Goods

For those who are packing heavy furniture, place large signs on these appliances. For example, if there are some items that you need immediately in your new home, place a “FOR IMMEDIATE USE” sign on it. This will keep you organized on moving days and avoid any complications. Your new employer abroad may provide you with relocation assistance.

On departure day, remember to close and secure all windows and doors, clean and vacuum the house, turn off lights and electronic appliances, and check all the closets, storage areas, and drawers to make sure that everything has been packed. Make sure you also have your mail forwarded.

7. Don’t Forget International Health Insurance

Perhaps we are biased, but you should definitely remember to purchase an international health insurance plan to fully cover yourself and any dependents who will be living with you abroad. A global medical plan cannot only cover large medical expenses, but it can also cover you for preventative health and medical tests that can help you maintain you and your family’s health. This is especially true of many countries where most local public healthcare facilities may not be up to western standards. Without an appropriate international health insurance plan, expatriates could end up receiving large medical bills that could put their financial status at risk.

Expatriates living and working abroad will benefit from an international insurance plan with day-patient care and full hospital coverage, extensive cancer coverage, dental and vision care, international medical evacuation and repatriation. Please contact us today for a quote and to discuss your expatriate insurance requirements. We look forward to hearing from you soon.

Five Advantages of International Health Insurance for Expats

Five Advantages of International Health Insurance for Expats

Moving abroad can be an exciting and life-changing event. However, expatriates working and living abroad may face diverse healthcare needs. In order to access the desired healthcare facilities and services, it is critical to obtain an international health insurance plan. In this article, we will explore five advantages of an international health insurance policy if you are an expatriate planning to live, work or retire abroad or are already an expat.

  • You Have Freedom to Choose Your Doctor Internationally 

An international health insurance plan provides an extensive medical care network. Therefore, you have the freedom to choose healthcare professionals and facilities globally. This is very helpful when your destination healthcare facilities do not meet your medical requirements, or your family members need certain medical specialists. Note that some plans will restrict you to receiving medical coverage in a particular region or offer global coverage. Most plans will offer you the ability to add treatment in the USA.

  • Avoid Long Lineups 

In most countries around the world, many public hospitals and clinics are often overcrowded, with long lineups and extended waiting periods. However, private medical facilities are often able to provide faster medical appointments and surgeries. With an international insurance plan, expatriates can use private medical facilities through a medical network and avoid long lineups.

  • No Language Barrier

One of the most challenging issues that expats might experience while abroad is the language barrier. Sometimes expats can’t access the local healthcare system because they don’t speak the language. For example, in China, though some public hospitals have opened international medical departments to serve expats, these healthcare facilities are only available in major cities. If expats are residing in smaller commercial centres or visiting some rural area, then they may fail to access the medical assistance they need. Note that private hospitals in China are very expensive, so make sure you have adequate coverage.

With an international insurance plan, you can be connected to local private medical facilities with English speaking medical staff and doctors. They often provide a higher quality of care and better service than public facilities. Most of them have also received Western training. Additionally, an international insurance provider such as Cigna can provide language assistance and interpretation service at no cost to you. This is very helpful for expats with an international background during every step in seeking medical assistance.

  • You are Often Covered Wherever You Go

Many expatriates may already be covered by their local medical plan; however, most local plans are not designed for expats. An international health insurance plan can provide complete coverage for you and your family around the world. This is very important for expats who often travel from one country to another. Obtaining an appropriate global medical insurance plan will not only protect you and your family from health risks but will also provide you with peace of mind. Note that expat health plans are not generally portable back to your country of citizenship or to some countries where local regulations don’t allow the insurer to maintain your coverage.

  • Avoid Financial Risks

As reported in the news, research, and surveys, the cost of medical care is increasing globally, especially emergency care. An international health insurance plan will help you avoid financial risks while living and working overseas. Most plans will provide hospital coverage, routine medical checkups, prescriptions, etc. You can also add dental, vision and wellness care. Expats should make sure that the insurance plan has medical evacuation and repatriation coverage. In some severe situations, evacuation is required to receive urgent medical care.

Obtain International Health Insurance from Expat Financial  

Whether you are living or working abroad, or planning to, Expat Financial is your trustworthy companion with proven expertise in financial and insurance services area. As a division of TFG Global Insurance Solutions Ltd, we have extensive experience in working with individual and group expats to assess their global insurance needs. Expat Financial offers several different international health insurance plans for expatriates across much of the world. We also provide excellent service before and after you purchase your international health insurance plan. If you have any particular questions regarding expat health insurance, please contact us or complete the quote form.

 

 

business travel

Seven business travel tips for 2018

Business has become even more global over the past ten years, and for most companies, it means that business travel overseas is an absolute necessity. Your clients are no longer local, they are global, and you need to keep in touch with them through email, phone, Skype, chats and of course, travel. Experienced business travel professionals are always sharing their tips on how to make their corporate journeys as smooth and productive as possible. We have gathered seven business travel tips for 2018 to share with our globally mobile employees and associates.

Business Travel Tips

  1. Try to be loyal to your favourite airlines so you can rack up your travel miles with one or two carriers. It will also give you added travel perks and upgrades when you often travel for the same airline.
  2. Dress professionally when you travel, especially in business class. Yes, we love to be comfortable when travelling, but if you are travelling for business, you have to remember that you are representing your business and your brand. You never know whom you are going to meet – maybe a new or existing customer or your boss. It may also help you get an edge in being upgraded by the airline.
  3. Pay attention to travel warnings if you are travelling to countries with current or previous travel safety problems or political instability. There are lots of great government websites such as the US State Department or UK Foreign Office which can provide excellent safety information that is continuously being updated. Your employer may have access to exclusive private country intelligence information, especially if they have a corporate kidnap or evacuation policy through our firm.
  4. Check with your doctor or travel clinic if you require specific vaccinations for the travel destinations that you are going to for business. You don’t want to come back with unwanted diseases or illnesses. The CDC provided some excellent information for business travellers, but talk to your doctor for more details.
  5. Make sure your travel documents are up to date and provide for full entry as a business traveller. You should check first if your passport is valid for at least six months after travel is started or has recently expired. You should also check to see if you have the correct visa entry requirements as business travellers are often viewed differently than tourists. You may have to apply well before you travel to avoid being denied entry into your country destination.
  6. Staying healthy is always good advice, but have you taken steps to ensure you stay healthy when you travel? Here are a few sub-tips for you to consider when travelling abroad:
    1. Try to get some exercise and use the hotel gym.
    2. Bring hand sanitizer and wash hands regularly to avoid unwanted germs and viruses.
    3. Get up during the flight to improve circulation and avoid deep vein thrombosis.
    4. Stay hydrated during the trip and when at your destination. It can do wonders for your travel health.
    5. Try to eat well when travelling, including fruit and vegetables. It can be difficult when you are being wined and dined during your business junket.
    6. Be careful where you eat, especially in developing or third world destinations.
  7. Perhaps the most relevant and important tip for business travellers is to make sure you are covered for emergency medical and evacuation expenses by purchasing travel medical insurance before you go on your business trip. Your corporate HR department may have purchased a single trip or multi-trip business travel insurance policy that will cover your business travel. If you are going to add some pleasure travel days to your business trip, make sure your corporate program thoroughly covers sojourn travels. If you are travelling to areas where terrorism, war and civil conflict are possible, make sure the policy doesn’t exclude war or terrorism. Some plans will also provide some trip delay, trip cancellation, liability and Accidental Death & Dismemberment coverage as well.

We hope that the above seven tips for business travel will be well received by all the business travellers who are expanding markets, meeting customers and delivering solutions to clients around the world.

What are the Best Solutions for Business Travel Medical?

The best solution for business travellers is to have your HR department contact our firm to quote on a corporate multi-trip annual business travel insurance policy. Such a plan can cover all the business travel for the entire company throughout the year. All employees who travel will receive a particular travel card that they can use in the event they suffer an illness or injury while travelling abroad. The plans can even cover employees in different countries travelling for your company, and some insurers can also include some sojourn or pleasure travel. To learn more, contact us today to discuss your requirements.

What to look for in an expat tax advisor

The only thing that’s certain in life is death and taxes, and this applies to expats as well. For senior expats and especially expat business owners, finding an expert in the domain of international tax law is a critical step in ensuring that you are complying with tax regulations. Today, we at Expat Financial will be providing you with four key aspects to consider when choosing the right international tax advisor for expatriates living abroad:

  1. Always ensure that you hire an entire team of tax specialists, rather than a single tax professional. This will ensure that your tax filings are correct and correctly audited and edited, and will create more security, as team members can divide responsibility amongst themselves.
  2. As expats often travel to countries where the first language differs from their native tongue, it is critical that an expat’s tax team be multilingual. This is another positive benefit of having a group of tax advisors, rather than a single individual, as the subtleties of tax law can often be misinterpreted through translation.
  3. Another essential part of any successful tax team is to make sure that your team has multiple regions under their belt in which they are qualified to give tax advice in. For instance, if you’re working in Spain as an American citizen, you may need a team that is well versed in both Spanish and American tax regulations or at least the ability to find the answers that you require. Additionally, ensure that your team is up to date on the latest tax regulations in all countries that apply to your future expat assignment.
  4. You should also make sure you have a clear picture of how much your tax advisory team will be charging you before they begin working for you. Failure to do so may result in surprise charges at the end of tax season.

It is important that you hire the best expat tax advisors possible as tax mistakes can be extremely costly for people who are already living abroad or planning their next overseas assignment.

In addition to hiring the right expat tax firm, you should also think about your international health insurance requirements for you and your family. Not only will international health insurance plans provide flexible worldwide coverage and freedom of comprehensive, world-class services, but they also come with the peace of mind that expats require. It is also important that you obtain an expat health plan that will allow for medical reimbursement from the local and global medical facilities. This will help you maintain a successful international experience for you and your family.

Expat Financial offers a variety of international health insurance plans on a group or individual basis. To maximize your expat experience and avoid unforeseen risks and costs, please contact us today to discuss your international insurance needs and requirements.