What to consider when you are relocating abroad

Relocating abroad will almost always involve finding somewhere to live, looking for a new job, and finding schools for your children. With so many things to consider, it is often easy to overlook something as important as international health insurance. In this article, we explain what to consider when you are relocating abroad, and we will explore the international health insurance that you will want to take with you when relocating abroad.

The Importance of International Healthcare

The most important factor in your plan to relocate is to acquire an appropriate international healthcare plan. The most common misconception regarding this topic is that you can take your domestic healthcare plans with you when you relocate. In fact, when you leave your native country, most domestic health insurance plans are voided. From an insurance company’s point of view, an expat is no longer a resident in their home country when living abroad and therefore no longer entitled to domestic coverage.

Another misconception is that as soon as you move to a new country, you will be entitled to local healthcare coverage from the state; however, this is not always the case. In addition, healthcare standards in many destinations are often inconsistent and lesser than the standards of your home country. It is also critical that you seek out expert advice when seeking international health insurance, especially if you have any pre-existing conditions which require coverage.

Relocation considerations aren’t only measured in terms of financial costs of living, such as moving expenses and cost of living, but one must also keep in mind the adaptations of language requirements and cultural differences. It is critical that you prepare appropriately for your various needs; however, without international medical insurance, an unexpected injury could cripple your financial situation.

Find what’s best for you

Finding the right international medical insurer is an extremely complex issue. There are many different levels of healthcare around the world, as well as vastly changing local regulations. It is subsequently very important to ensure you’ve selected an international health insurance plan that fully protects you and your family.

Expat Financial offers a variety of international insurance 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. Our toll-free number: 1-800-232-9415 or email us at info@tfgglobal.com.

What to consider when moving abroad as an expat

Deciding what to consider when moving abroad as an expat can be an overwhelming experience. Relocating abroad will almost always involve finding somewhere to live, looking for a new job, and finding schools for your children to attend. With so much to consider, it is often easy to forget to look into an essential ingredient to having a successful and happy period abroad: international health insurance.

International Health Insurance 

International health insurance is an absolute necessity when relocating abroad. What do you need to consider? Let’s explore what you will want to take with you in an insurance plan.

The most important part of relocating abroad is to acquire an appropriate international healthcare plan. Your domestic health insurance will not cover you, contrary to popular belief. This is a very common misconception – that your domestic plans will cover you abroad but the truth is that when you leave your native country, a lot of the time, most domestic health insurance plans become void. From an insurance company’s perspective, an expat is no longer a resident in their home country when living abroad.

Another misconception is that as soon as you move to another country, you will be entitled to healthcare coverage from the state. While this is sometimes the case in some European countries, more often than not you will not be eligible for local healthcare through the government or a local insurer. In addition, healthcare standards in other countries (which may include your destination) are often inconsistent and have lesser standards than that of your home country.

Expert Advice

Because of all these misconceptions, you need to seek out expert advice. Receiving this advice will seeking international health insurance, especially if you have any pre-existing conditions which require coverage, is essential.

When relocating for your expat assignment, you also need to consider the following: moving expenses, cost of living, location, language requirements, and cultural differences. It is critical that you budget appropriately for your various needs; however, without international medical insurance, an unexpected injury could cripple your financial situation. This is what makes international health insurance to critical for you to obtain BEFORE you depart.

Finding the right international medical insurer is an extremely complex issue. There are many different levels of healthcare around the world, as well as vastly changing local regulations. Therefore, it’s very important to ensure you’ve selected an international health insurance plan that fully protects you and your family.

Expat Financial offers a variety of international insurance 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.

Top 10 Expatriate Careers in 2019

Learn About the Top Ten Expatriate Careers in 2019

The decision to move abroad has been made, and the process of organizing your checklist of tasks to accomplish before taking off has begun. There will surely be lots of things to consider while planning your move abroad; however, one task that should be high on your list will be your search for a job. Securing a job will facilitate your move by securing funds, increasing your local network, facilitate your ability to rent an apartment and so on.  We have created a list of the top 10 industries for expats working abroad to help you discover where you’ll prosper! It is important to remember which opportunities are best for you and where you believe will allow you to call a new city home.

1. Hospitality

The hospitality industry is known for its social and high energy environment. If you are looking for a career that allows you to explore new cultures and to fully immerse yourself in the day to day life of local natives, hospitality is the job for you. With the advantage of being diverse and flexible, jobs within the hospitality industry – such as working in a restaurant or a hotel – are a wonderful way to join the community and understand local traditions, cultures, and way of life.

2. Resort Staff

Living in a resort is a dream for many people, however few can experience the opportunity due to high costs. If this sounds familiar to you, or you simply are looking for a new adventure, then working in a resort may be your best option! Working abroad in a local resort has an amplitude of benefits, such as wonderful accommodation, food service and the beautiful sceneries. There is no limit to where your resort stays may bring you – whether that be the beautiful African Sahara or the stunning beaches in Greece.

3. Tourism

The tourism industry is the perfect balance for people who are continuous adventure seekers but also want the stability of a career. If travelling is one of your biggest passions, a wonderful benefit of getting involved in the tourism field is that it allows you to help others fulfil their biggest dreams and desires to travel the world. The flexibility of working in tourism is another important benefit to consider. If you prefer an office position while on your downtime for travelling, you can easily obtain a job for a local travel agency; however, if you prefer to maintain an active lifestyle you can find jobs as a flight attendant or a tour guide.

4. Education

Joining the education field is always a satisfying and enjoyable opportunity. There are many options that one can take as an expatriate that is wanting to get into education. Whether you decide that private tutoring is the way for you, or take the more traditional approach and teach a full classroom, both options will surely satisfy your teaching desires. Teaching abroad is a wonderful opportunity to expand your skills as it allows you to work with a diverse group of people, as well as allows you to expand your experiences and connections with those in your new community.

5. Au pair

An au pair is someone who moves in with a family and takes care of the children and some basic household needs. It is a fantastic opportunity for young adults to experience a new city while helping a family. Typically, a host au pair family will pay all the expenses for the worker (lodging, food, weekly allowance etc.) in return for the help of au pair. It is particularly popular for families looking to incorporate a new language into the family, as they will often bring in an au pair from a foreign country that can teach a new language. An important aspect of being an au pair is to ensure that you have discussed expectations of hours to work, time off etc. in order to avoid any complications down the road!

6. Nursing

Working abroad as a nurse is an amazing opportunity to gain new knowledge and expand your experiences in the field. Working in a new country will allow you to treat patients from different backgrounds and new techniques in the medical field. As rewarding as a nursing job abroad is, it is important to note that you will need to be a registered nurse in your home town in order to transfer to a nursing job overseas. Transferring to a new country may require an entrance exam for the country, so make sure to do all the proper research before making the move.

7. Photography

What better way to expand a photography portfolio than to jump into a career in photography while living abroad. The opportunity to gain new insights and designs from a new environment will surely bring new creative designs and looks for anyone’s portfolio. Another advantage of starting a job in photography is that you often have the ability to work as a freelancer – meaning you are less likely to be tied down to a standard 9-5 career.

8. Marketing & Public Relations

If you see yourself as a more creative person, a job in marketing or public relations could be the best option! In a field that thrives in a dynamic and continuously changing environment, marketing allows someone to fully integrate their own personality and values into their jobs. With the field of marketing vastly growing, the number of international jobs that are readily available for expatriates moving abroad is on the rise and have proven to be extremely successful and enjoyable for new workers.

9. Business

With the movement of today’s global industries, the international approach for many companies is becoming very predominant. As these companies continue to expand, the opportunity to interact with international clients is rising in popularity. A wonderful way to strengthen your professional profile is to jump into the business field and learn how to communicate and interact with a largely diverse population. Business opportunities can take you anywhere in the world – whether it is getting into the finance industry in Denmark or the fashion industry in France, you have the chances to travel the world while advancing your career.

10. Teaching a language

Last but not least, one of the amazing jobs you can do while working abroad is teaching English. In today’s day in age, English has become one of the leading languages to learn, and many foreign parents and young adults are on the hunt for professional English tutors. The opportunity to choose just about anywhere in the world, the ability to travel, and work digitally are just a few of the benefits of this amazing job field.

Don’t Forget Global Health Insurance When You Work Abroad

Before you take on any career abroad, it is important to obtain global health insurance coverage through your employer’s global benefit plan or an individual expat healthcare policy that will fully cover your medical expenses and those of your partner and family members. Medical expenses can be extremely expensive overseas or medical care and health coverage may be substandard locally. Your work abroad may also take you to different locations where a domestic policy won’t cover you or you may move from one expat destination to another. Contact our firm to learn more about the excellent international health coverage that we can source for you today.

Choosing between a local or global health insurance plan as an expat

Why you should purchase a global over a local health plan if you are an expatriate

Expatriates who are moving overseas will often opt into purchasing a local health plan from the government or a private insurer. Some countries, regardless of your own coverage, may require you to purchase the local coverage care, even if inadequate for your needs. Most local plans will be inexpensive and some can potentially be quite good. However, if you are moving overseas there are five reasons why we recommend expats to purchase a global health policy:

Portability

As an expatriate living abroad, opting into a local health plan may limit your portability and your access to medical care in cases of relocation. If there is a possibility of you moving to a new destination, or if you are not consistently in one primary country, you will want to have access to a health care plan that provides you with the portability that you require. Another benefit of obtaining a global health insurance plan is that it may also include coverage for business travel and travelling for pleasure. Global health insurance plans are especially important for expat employers that employ mobile employees globally.

Local health plans may be deficient

Many expatriates find that local health care plans are not sufficient for their standards. One benefit that has proven to be important for expats is the ability to get medical care with a large network of hospitals and clinics. Many local plans will have a small network, in which you have to receive your care. Global health care plans tend to have a much larger network, as well as the ability to access medical care from outside network hospitals with approval from the insurer.

Local health facilities may be substandard and not up to western standards

The quality of medical care and facility capabilities vary greatly from one country to another, and in some countries, the standards of medical facilities may be much lower than those in Western countries. If you are an expat located in a second or third world country, the medical standards set in place may not be up to the standards in which you are accustomed to. Medical care that is not up to your usual standards may be passable for check-ups and basic care, but will not be adequate for any procedures that require a specialist or any form of intensive care. However, it is not only in third world countries that you will want to consider a global health plan. Even in developed countries, having a global health plan in place will help in a time of emergency, and explain how to deal with medical emergency coverage when times of need require it. It will also have the added benefit of providing you and your family with an accurate direction and alleviate panic at all times.

Local plans won’t cover you for treatment outside of that country

The difficulty with local plans is that once you have left the country, your local plan may be cancelled out. While being an expat often encompasses a certain amount of international travel, you will want to ensure that you are covered upon leaving your main destination. Another difficulty that comes along with local health care coverage is if you do decide to relocate, there may be a lapse in coverage or necessary waiting periods for coverage between the two regions. This may become detrimental in your protection if you are travelling in high-risk zones.

You may need or want to seek treatment back home or regionally

Although local health plans may be tempting for expatriates, local health plans are not designed for expats, but in reality, are designed for local natives. If you are wanting to obtain medical coverage back in your home country, you will no longer be covered under your local health care plan. You may also require medical evacuation coverage in cases that local hospitals are not able to treat you adequately. Evacuation coverage is a crucial feature of any expatriate insurance plan.

Expats are often portable, so it is vital that you have a global health policy that will cover you if you move from one country to another. It is important to note that most expat health providers are not able to renew their coverage should you move back to your home country or spend more than 6 months in your country of citizenship. It is important that you check your requirements and fine print when you apply online for a global health plan.

Expat Financial offers a variety of international insurance 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. Toll-free number: 1-800-232-9415 or email info@tfgglobal.com

Five most costly cities for expatriates living abroad

When talking about cost-of-living overseas for expatriate employees, it is not just exchange rates of currency, cost of food or groceries, but also housing costs. According to a recent Forbes’ survey result, the five most expensive real estate markets are Hong Kong, Mumbai, Beijing, Shanghai and London. In this article, we will discuss the five most costly cities for expatriates living abroad.

  1. Hong Kong, CHN

Hong Kong is considered one of the most successful financial centres around the world. It owns advanced medical care system,  promotes an active lifestyle and provides an excellent educational system. According to the Demographia International Housing Affordability Survey of 2016, Hong Kong‘s property market is the world’s most unaffordable. As stated in Mercer‘s Cost of Living Survey, Hong Kong is the most expensive in the Asian Pacific region. According to a local real estate site HongKongHomes.com, you should expect to pay around HK$ 55,000 per month (equivalent to ~ USD $7086.4 monthly) in order to rent a two bedroom, two bathrooms apartment with a saleable area of 953 sq.ft. If you would like to own the apartment, the price increases to HK$ 24,000,000 (~ USD $3,092,245.44).

2. Mumbai, IN

Surrounded by sea on three sides, Mumbai is the most populous city on the west coast of the Indian peninsula. Mumbai is listed among the most costly cities to buy real estate in. As being one of the most international cities of India, Mumbai has pleasant weather and advanced health care facilities. With job opportunities offered, increased expatriate migration and investment buyers that are willing to reside in the city has consequentially driven up the demand for property in Mumbai.

3.Beijing, CHN

Beijing Expat Insurance

The second Chinese city that is considered to be one of the most expensive cities in the world to live in as an expatriate is Beijing. Beijing is China’s capital, as well as its political and cultural centre. Known for its influential culture, Beijing has been known to be an extremely popular destination for expatriates moving overseas. According to the National Bureau of Statistics of China, Beijing is in continuous demand for real-estate investments, resulting in increasing high costs of living. Apart from real-estate costs, Beijing also has one of the most expensive healthcare systems, especially for non-native residents.

4. Shanghai, CHN

The third Chinese city that has made its way to be one of the leading most expensive cities in the world to live in is Shanghai. Located on the central coast of the country, Shanghai has become one of the leading financial hubs of the world. The importance and ability to conduct business in Shanghai have transformed the city to be an expatriate hot spot. With continuous growth and demand, the cost of living has skyrocketed in the last few decades. Don’t be surprised to see an average, furnished one-bedroom apartment costing $3,000 CAD/month.

5. London, UK

London has long been one of the most popular, and therefore most expensive cities to relocate as an expatriate. London is known for its rich history and remarkable agriculture, as well as being a city that can please all needs. Whether you are interested in art, culture, food or adventure, the city has it all. As a leading destination for expatriates, the significant increase in population has caused a substantial surge in living expenses, such as accommodation, transportation and food & entertainment.

 

If deciding to relocate to one of the above cities, it will be very important to ensure that you have proper medical coverage while abroad. Living in one of these cities will cost you a substantial amount of money, you’ll want to ensure that you don’t have to worry about any unforeseen medical expenses. At Expat Financial, we can offer a wide range of expatriate health insurance plans designed specifically for expatriates of any nationality around much of the world. For additional information, contact us at info@tfgglobal.com or click here for a quote today! 

 

Becoming a Global Citizen

The opportunity to live a life as a global citizen is one that is appealing to many people. It involves a life of adventure and new experiences. If deciding to become a global citizen, it is important to understand what it takes to successfully take on the opportunity in which you are given and facilitate the transition period. Let’s dive into what it means to be a global citizen.

Health considerations

As many concerns arise about making the decision to become a global citizen, health considerations are likely to be at the top of your priorities before moving. Taking care of your health while living abroad will be one of the most important and crucial steps to ensure a successful and blissful lifestyle.

Global health insurance is highly recommended for anyone living or travelling abroad. The advantages of global health insurance go far beyond basic medical care. It will alleviate any added stress or concerns about medical coverage while travelling abroad, as well as facilitated payments, coverage regions and standard of care.

At Expat Financial, we offer plans from basic in-hospital plans to in-hospital and out-patient plans. We are able to provide various plans from several different insurance companies in order to find the right fit. Contact us today by email at info@tfgglobal.com or click here for a free online quote. 

global medical

Culture adaptations  

Depending on where your global adventures take you, there is a high chance that you will be relocated to a country that will likely lead to a degree of culture shock. The important thing here is to stay as open-minded as possible. Locals will gladly teach you their culture and welcome you into their country, as long as you are willing to immerse yourself in the community.

A useful type for overcoming culture shock is to learn the local language as well as possible. This will allow you to engage with more locals and feel less alienated when exploring and appreciated the new city in which you call home.

Location is key

When it comes to choosing where you want to relocate, there are many different considerations to remember. First, it will be important to understand the local culture and what it will mean to connect with the locals as an expatriate.

A second aspect that is very important will be to find an area that has low crime rates for your safety – whether that is choosing, in general, a safe city or specifically a safe neighborhood. Explore our region & city guides to discover which regions are the best fit for you!

A third factor that is important in choosing a location will be to know what the tax policies are for your incoming country. Many countries have different ways in which they tax their local employees, and as an expatriate living abroad, it will be very important to know the local taxation policies.

Get involved in local politics and policies.

As important as it is to immerse yourself in a local community, it will be equally as important to immerse yourself in the local politics and policies that are relevant to your new home. Knowledge of local politics will help you understand a multitude of important factors, such as taxation, governance, community values and elections, as these will all be crucial in your development in the community.

It is important to note that it is not recommended to get involved in politics in all countries, and it is important to research beforehand and look into political stability before diving into local politics, especially if you are not a citizen of your new country. Getting involved in politics as an expat in many countries, especially ones with little or no human rights protections, can be very dangerous.

Apart from local politics and policies, we also recommend having a general understanding of global politics, specifically with countries that directly affect your new city. This will allow you to stay aware of external factors and policies that may alter the way in which you engage with your community.

Keeping in touch

Lastly, after making the decision to become a global citizen, it will still be important to stay connected with your roots back in your home country. This can come with many challenges, including adjusting to time zones, whether or not you are in a Wi-Fi efficient zone or keeping this priority top of mind. It is important to keep in touch with members back in your home country in order to maintain and facilitate the transition, as well as keeping in touch with your own mental health.

 

The fundamentals of becoming an expatriate

There are numerous reasons as to why someone will make the decision to relocate to a new country and become an expatriate. The decision can be an inbound decision of wanting a new life of adventure or you are being relocated due to your job. Regardless of the reason, there are an abundant amount of benefits for making the move. The term expatriate is often misinterpreted and we are here to help you understand what it means to be an expatriate and how we recommend preparing for your new life.

What is an Expatriate?

An expatriate is considered as anyone who is living outside of their native country – meaning the country in which they were born and/or brought up in. Expats that are living overseas can be considered in a permanent, semi-permanent or temporary placement, depending on the expats’ specific situation.

When relocating abroad, regardless of the reason for moving, there are plenty of considerations to think about beforehand. Some top priority factors are to determine where your income will derive from, are you living in a safe area, how to attain housing, are you moving somewhere with a different language than your native tongue, whether or not you need a visa, and how does the medical care system work in your new country. We have created a small guide to answer some big-picture questions that are crucial to know before your big relocation.

Visa requirements

Most countries will require a visa in order to become a local resident, and the process and availability will be dependent on your country of origin, as well as the inbound country. It is very important to understand all the factors and limitations of your visa before moving. More often then not, a work visa will have a longer period of validity in comparison to a visitors visa, resulting in a more stable duration of stay.

Adapting to local culture

Your international relocation may bring you to a country that is vastly different than your home town, whether that be in Africa, Asia, Europe or South America. Each region and country around the world has it’s own unique offerings to you as an expatriate, and it will be important to learn and appreciate how differently things are done. One aspect that will greatly benefit you as an expatriate will be to learn the local language as well as possible. Learning a new language has many benefits and challenges, and in the end, it will greatly improve your experiences in the new country. The more you adjust and dive into the culture and experiences of your new home, the easier it will be for you to adjust and enjoy your time away from home.

The benefits of Expatriate health insurance

Countries all around the world vary in healthcare, in cost and standardization and care. As an expatriate living abroad, you will want to have the best healthcare coverage as possible. In most circumstances, countries will require expatriates to obtain a global medical coverage plan for extra protection, as most expats won’t be covered under a domestic plan. A comprehensive global medical plan that can move with you and cover you locally, regionally and globally – especially back home will be critical.

A major benefit of a global medical health care plan is the ability to cover other dependents as well – whether that be a spouse or children. Obtaining the best care for yourself and your family will be extremely important as you choose to live an expatriate life.

Domestic government health plans often only provide access to public hospitals and doctors. This may become problematic as you will have more restrictive access to medical care. In order to avoid the complications of long wait lines, extra costs of medical testing and surgeries, most expats will seek out a global medical care coverage in order to have access to private hospitals, doctors and clinics.

The keys to success

As rewarding as living an expatriate life can be, there will surely be some obstacles along the way. Here are some suggestions in order to get the most out of your expatriate experience.

  1. Appreciate the cultures and languages of your new country! Many people will never be given the opportunity to travel and live the way you are, so make sure to take the time to dive into new cultures, meet the local populations and learn to appreciate the way of life that is different than your norm.
  2. Moving abroad is the perfect opportunity to do a major clean out of your house! Deciding what to pack when moving abroad can be a stressful and tedious experience, however, it is an excellent opportunity to purge out old household items and clothing that you don’t need!
  3. As you are becoming an expatriate, it will be important to engage in an expatriate community as well as the local natives. There are several benefits to relying on other expats, including learning from their past mistakes and suggestions, as well as their knowledge on conducting business and creating a social life in a foreign land.
  4. It will also be important to know about your countries taxation policies. As all countries differ in tax legislation, it will be important to be up to date on your tax status and whether double taxation agreements are in place between the two countries.
  5. Lastly, obtaining your international health insurance before relocating, or within the first few days of moving will be crucial. This will alleviate a large amount of unnecessary and added stress that is preventable in order to protect yourself. At Expat Financial, we are able to meet the growing needs of expatriates living around the world who require global healthcare coverage for themselves and their families. To view available international health insurance plans available, click here!

 

Top 5 reasons expatriates are choosing to live in Costa Rica

You’ve taken the plunge and decided to move to a foreign land to pursue your dreams of living an expatriate life. Countless days have been spent trying to decide on the perfect new place to call home, and the decision has finally been made: Costa Rica.

There will surely be obstacles along the way; learning a new language, adapting to new cultures and customs, and developing new social networks. However, these obstacles are no match to the numerous benefits that will come from making the move.

Whether you want to surround yourself with a vast array of volcanoes and waterfalls in the Central Valley, prefer the quiet life on the beach in Tamarindo, or want to live an exciting life of adventures and activities in the Arenal Region, Costa Rica offers a diverse and exciting profile for everyone.

For English speakers looking for work in Costa Rica, available industries are wide-ranging for an expatriate: varying between hospitality, tourism, the arts, sales, sports, and education. With Costa Rica calling your name, read through the top 5 reasons to make the move to this beautiful country.

1. Low Cost of Living

The cost of living in the Costa Rican regions is relatively stable throughout the entire country. Costa Rica is relatively affordable in comparison to most Canadian & American cities, and therefore, more advantageous for incoming expatriates.

On average, a furnished 900sqft apartment will cost ~$750USD per month, and in a more luxurious region can cost up to $1,500/month. Groceries range from $5 for an lb of chicken, $6 for 500gr or cheese, $2 for 2lbs of potatoes and $0.75 for bread. If you are living in a region where transportation is necessary, a bus pass will cost you $ 62/month.

Being an expatriate in a new city, you’ll surely want to explore the town with a few nights out. An average dinner for 2 will cost you about $40, drinks at a downtown bar will be $8 and if you’re in the mood for a fancier night out, a high-end restaurant will be ~$68 for 2.

2. Culture

 

“The happiest country in the world” – Costa Rica has long been given this reputation. Through its energetic and friendly locals, Costa Rica is a sophisticated and proud country. It prides itself on its strong cultural values, which stems from freedom and equality for all, with a rich history incorporating many diverse influences. Costa Rican citizens are very friendly and it is a great country to explore culturally.

3. Safety and Stability

As an expatriate, it is important to know that you will be living in an area that prospers in safety and wellbeing. As one of the longest reigning democratic states in Central America, Costa Rica is known for its safe and stable environment and functional government. While you will want to take normal precautions that you would take while living abroad, most expats will agree that this beautiful country is a safe destination for living abroad.

Costa Rica is also one of the leading Central American counties for a stable and prospering economy. Although deciding to make the move to Costa Rica is one that shouldn’t be taken lightly, you will be able to rest comfortably knowing that you are making the move to a financially stable country.

4. Weather and Environment

If versatility is what you’re looking for, Costa Rica is the best place for you. You can enjoy the beautiful sandy beaches in 30-degree weather, to going off exploring the rainforest and jungle region of the country. With dry and wet seasons, you will still experience the changes of weather, while also enjoying a constant 12 hours of sun a day, all year round.

5. Established Healthcare System

Costa Rica has one of the leading healthcare systems in the region. Most expats will want private healthcare provided by a large global insurance provider. As an expatriate, Costa Rica has the added benefit of offering English Speakers at nearly every major hospital and clinic. However, when making the decision to relocate, it is very important to obtain an international health insurance coverage plan for your extra protection.

At Expat Financial, we provide international healthlifedisability, and travel insurance to expats moving abroad or already living the expat life overseas. Our firm has extensive experience in working with expatriates in need of global health insurance while living in Costa Rica and other Central American countries. Contact us with any questions and obtain a quote online today!

 

 

Should you retire abroad?

Learn About Retiring Abroad – Determining Your “Expatibility,” or Candidacy, for Retiring Abroad

A lot of us wanted to travel abroad while we were younger or were interested in taking time off work to explore and see more of the world. You may or may not have had the chance to see as much of the world as you wanted. But now you nearing retirement. And you always thought you’d travel once your career was complete. Now you are considering going abroad – and staying abroad permanently as a retired expat.

How do you determine if retiring abroad is right for you?

For one thing, going abroad for retirement is an adventure. Another thing is that it may make total financial sense to leave your native country, with costs of living climbing. And it’s never been easier to pull off expat living – with resources at your fingertips around the clock through the easy facilitation of information-sharing online. You can look up what others have done and read about their experiences online, and even connect with them as well.

Determining your expatibility is the most important step to deciding if you should retire abroad.

Here are two steps you can take in order to determine whether you’re a good candidate for this adventurous expat lifestyle.

Step 1. Take a good look at yourself and profile whether you have the personal disposition to retire abroad.
Retiring abroad takes a desire for adventure, yes. But it also means embracing change, difference and meeting difficulties with an open mind. Do you shy away from obstacles that may arise, like language barriers and a different way of life? You should also consider the following disadvantages of moving abroad:

  1. You will not be able to see your friends and family as much
  2. You may have to sell your house and give up health coverage back home
  3. You will have to give up some activities at home which may not be available in your new location – such as skiing if you are moving from Vancouver to Barbados.
  4. Will you have enough money to last for your life no matter how long you live?

Also, are you ready to immerse yourself in a different culture, including the food, the type of dress you’d be donning? If not, then retiring abroad may not be for you. Or you’re not just yet ready to take the leap into expat life at the moment.

Step 2. Ask yourself what you truly need – what are your necessities in life?

What are some things you absolutely can’t live without? Do you need to be able to speak the local language in your new home country or get away with speaking English? Do you have to have the ability to live with very low costs, or peace and quiet, or a car or internet? Evaluating your needs will help you decide if you’re able to live abroad, and where.

Whether or not you decide to retire abroad, and wherever you go, remember that you’re going to need international health coverage as it’s very likely that your domestic plan will NOT cover you during your retirement abroad. Medical expenses incurred abroad can be extremely expensive and as we all know, our health does not improve with age. It will make sense to lock in a global medical insurance plan when you are living abroad from a well known and respected global insurance company, such as the expat health plan we offer from Cigna.

Finding the right international medical insurer is an extremely complex issue. There are many different levels of healthcare around the world, as well as vastly changing local regulations. Therefore, it’s very important to ensure you’ve selected an international health insurance plan that fully protects you and your family. You should also consider a global health plan that will cover you for life as some plans will termiante after you reach age 70 or 75.

Contact Expat Financial for expert advice and to discuss your international insurance needs and requirements.

How to Become A Digital Nomad Abroad

Learn How You Can Become a Digital Nomad as an Expat Abroad

For a number of reasons, people become “expatriates” (that is, people who live outside their native country), and this process of becoming an expat happens in many ways./

One of the most recent and popular ways to become an expat has materialized through a number of technological innovations, and that is to become an expat as a “digital nomad.”

What is a digital nomad?

This is a term used for a person who is “location independent,” and relies on technology to perform his or her job. The great thing about being a digital nomad is you can work virtually anywhere, allowing you to move easily between countries and regions.

How exactly do you begin to become a digital nomad?

It seems to be an appealing life, one where you can travel and work simultaneously. Imagine sitting on a beach somewhere in Thailand working on your laptop (while also working on your tan!) The thing that digital nomads have in common is that they usually spend months in a year traveling while working online. But it takes a lot of hard work to reach a point where you can both work and travel.

As a recent movement that works for many, it can be rewarding. but there’s usually some confusion about how to live this lifestyle.

We’ve put together five core things you need to do if you’re interested in becoming a digital nomad. There’s a lot of hard work involved, but these five steps will help to set you up for success.

1. Be creative.

There isn’t one blueprint that everyone can follow in order to get the digitally savvy life of independence that so many (particularly the millennial population) dream of. Everyone arrives at the digital nomad lifestyle through a unique path.

In order to find out which route to go, figuratively and literally as well as digitally, to become a digital nomad, you have to figure out where your strengths lie and come up with a creative way to make that work for you.

Are you good at graphic design? Blogging? Photography? Are you good at creating communities online through your relationship-building or networking skills? Let that work to your advantage and help leverage you on your way to becoming a digital nomad.

2. Join a digital nomad community.

There are tons of people who are doing this and have been in the same situation as you before – figuring out where to begin and how to start travelling while working online. Find these people and learn from them. Use them as resources and as peers who are like-minded. They have a wealth of information on how to start reducing your ties to your current location, where to find new homes for cheap, how to find a creative way to earn money online to fund your travels, etc.

3. Decide on how you’re going to earn money.

You need money to travel. Start by freelancing through your graphic design, photography, or blogging skills, or work or study abroad. These are ways to start traveling and get you on the path to becoming a digital nomad. While studying and working abroad is less risky than trying to earn your way by being a freelancer, it’s not as easy to be location-independent. It may take you longer. So weigh the pros and cons. Generally, it makes sense to secure your contracts or employment before you leave from a company that is accepting of your digital nomad existence while living abroad.

4. Figure out how you want to live.

If you’re interested in having solitude and quiet, and wish to retreat somewhere, go for it! Or if you’re a social butterfly and need to be around people to thrive, then go for that. But make sure you know what you want.

Have a look at our country and city guides to get more of an overview of regions in the world that Expat Financial provides medical coverage for.

5. Research.

This includes researching where to live, the currency, and the culture of your destination (for some areas that are more conservative, you want to dress appropriately). It makes sense to make sure you are living in an area that is safe and secure, has excellent internet coverage and speed, inexpensive housing and for some a great climate and interesting culture.

6. Get international medical coverage BEFORE you become a digital nomad

International health insurance coverage is essential for anybody becoming an expat, no matter where they’re going or for how long. If you are a digital nomad, there is a good chance your employer will not provide health coverage for you or will ask you to obtain your own. In fact, most digital nomads are self-employed or working on a consulting basis, so you most likely need to obtain adequate global health coverage to cover unexpected medical expenses, evacuation, dental and more. Digital nomads can easily obtain a quote for excellent international medical insurance from our insurance partners. Our most popular global medical policy for digital nomads is the Cigna Global Health Options plan. It is vital that digital nomads obtain a high-quality plan and also discuss their needs with us if required.

Expat Financial provides international health, life, disability and travel insurance to expats (for both those who are interested in going abroad and those who are already living abroad). Contact us today to get have your questions answered and obtain a quote online.