Selecting Insurance

The importance of protecting your income while working abroad

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Make Sure you Purchase Disability Insurance When You Work Overseas

Nowadays, apart from safety, what most people are concerned about when considering an offer of employment overseas are the salaries and benefits coverage. According to HSBC’s Expat Explorer survey, more than 35% of expats working in the banking and financial services sector in Hong Kong make more than HKD 1.55 million annually. And according to ECA International’s annual MyExpatriate Market Pay Survey, middle expat managers in Japan earn $375,289 per year on average. An expat professional’s income is one of the most valuable assets, but what if an unfortunate event happens and you lose that income? Disability can occur at any time. In this article, we will discuss the importance of protecting your income while working abroad.

What is Disability Insurance?

Disability insurance often called income protection, is designed to ensure the beneficiary’s income if the worker becomes disabled and is unable to earn an income. The types of disabilities include serious illness, an accident or injury, and a mental health issue. The plans will generally pay you a percentage of your income after you are disabled for a set number of days or months and pay until you reach age 65, can complete another job or are no longer disabled.

Short-Term & Long-Term Disability Insurance 

There are generally two types of disabilities insurance: short-term disability and long-term disability. Short-term disability insurance provides a percentage of income if an employee is disabled and unable to perform job duties in six months. Long-term disability insurance will pay an employee a portion of monthly income if he or she is unable to work. Payments end when an employee starts working again or dies. The benefit plans often differ significantly from one employer to another.

 

Market

Hazards of Life When Living Abroad

Working and living overseas comes with a set of challenges. This is not only regarding the initial culture shock, but it also involves a certain level of risks such as urban crime and political protests. How safe it is for expats to work and live abroad depends largely on the chosen destination. People in some countries may prejudice toward nationals of certain countries for historical and political reasons. There are certain countries where it is more dangerous than others. These unexpected circumstances and events reiterate why it is so the importance of protecting your income while working abroad.

Why Disability Insurance is So Important?

Besides physical accidents and work-place related accidents, most expats don’t realize that chronic conditions can also cause disabilities. And if they become disabled and unable to work, could you pay the bills? This is why disability insurance becomes very important. The chances of disability are actually quite high before age 65. if you think about it, your most important asset is your ability to earn an income.

Disability Insurance

It is strongly recommended for expats moving overseas to obtain an international health insurance plan with disability coverage. Especially for those self-employed expat individuals and independent contractors. Many expat benefit plans include some local healthcare benefits. However, these local medical plans do not provide medical treatment outside of your destination country nor cover emergency evacuation and repatriation. Most expatriates will want a plan that provides international medical treatment. Expats will also want to obtain life insurance when working and living overseas. Remember, some say that your ability to earn an income is your most valuable asset!

How to Obtain Expat Disability Coverage?

Don’t forget to include the coverage of expat disability and life insurance. The peace of mind of knowing that your future income is protected while working and living overseas is very important for individual expatriates and their employers. Expat Financial, a division of TFG Global Insurance Solutions Ltd., can often source group expat life and disability plans for organizations that are employing expat employees. A group plan will often provide superior coverage and rates. We also offer a great expat disability plan for individual expatriates.

If you have questions about the individual and group expat disability plans we offer or if you would like to discuss your needs and produce a customized quote, please contact us or complete the quote form.

Expat Tokyo - Why you need international health insurance?

6 Reasons Why You Should Relocate Overseas

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Six Reasons Why You Should Move Abroad

The traveling bug seems to have taken the world by storm. One can also call it the “expatriation bug” as people are moving abroad in increasing numbers. While there are people who are investing their time to explore new pastures for the sake of adventure and fun, there are many who are actually looking to turn it into a way of life. In fact, the idea of departing from an old and mundane lifestyle to a new beginning seems extremely inviting.

Though the very thought of beginning from scratch might appear to be intimidating initially – if you have put your mind to it, you will soon realize the amazing benefits of relocating to a foreign location of your choice. Listed below are some of the wonderful advantages of moving overseas in 2019, six to be precise:

1. Opportunity To Explore New Culture:

Moving abroad allows you to step out of your comfort zone and embark on a new journey wherein you get to explore a new country and its culture, people, food, and language that is completely alien to yours. Besides some new and stimulating experiences, you learn to set up things for yourself independently such as doing the daily chores, making a living etc. while grappling with new challenges. This gives a strong boost to your confidence, which is extremely important to settle down in a new country.

2. Better Employment Opportunities:

Though the aspects of an expat life might appear to be difficult, yet, there are several facets that make this endeavour extremely rewarding. One of the most significant reasons why moving abroad is catching up amongst people, especially millennials are promising employment opportunities. Countries such as Canada provide a perfect destination to people looking to begin a new professional journey that is extremely fruitful and rewarding.

Tokyo City

3. Strengthening of Your CV:

Working abroad will help you develop new skills that are significant to sustain oneself in a competitive job market. The skills and expertise gained abroad can make your CV look impressive and provide you with an upper hand vis-a-vis your counterparts. Who knows your prospective employer may be simply impressed by your newly formed qualities. It has been documented that taking an overseas work assignment can really benefit your career long term.

4. Better Lifestyle:

Often, folks consider relocating overseas with a vision of starting life afresh. By getting access to new opportunities, they intend to have a luxurious lifestyle, which they might have been yearning for in their home country. Countries such as the UK, Canada etc… with their advanced infrastructure, a strong economy, and low tax rates are extremely alluring for people willing to relocate.

Tokyo Airport

5. Broadened Outlook Toward Life:

Once you migrate to a new place, you tend to broaden your horizons by stepping out of the dependable comfort zone that you relied on earlier. As you meet new people, explore a new culture, taste new food, and above all travel around, you will be able to form new attributes that will broaden your outlook toward life.

6. Appreciation for Yourself:

Living in a foreign location provides you with several opportunities for self-actualization. You will learn to understand certain traits about yourself, which you were probably unaware of earlier. While some of these might leave you introspecting and improvising, some may make you adore yourself more than ever before. After all, the most important relationship a person has in their life is with themselves.

Yet wait, another reason to move abroad is to potentially earn more money. It has been reported recently that you can earn more money if you move abroad as companies employing expats often pay a salary that is higher. Multinationals often provide better benefit plans and superior global insurance coverage. You may even benefit by paying fewer taxes while living abroad.

The aforementioned reasons are just the tip of a massive iceberg, and there are many others that can fuel your zest to resettle on distant shores. However, if you are keen to write a new success story, just take the leap of faith to realize some of the most promising benefits. We would be remiss if we did not mention the importance of obtaining global health insurance coverage before you move abroad, but it is possible to get global healthcare if you are already living abroad.

Global Business

Tips on Becoming a Global Nomad

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Become a Digital Nomad Abroad – Global Nomad Tips

Being a global nomad is definitely an intriguing opportunity for many people. However, there are many factors that come into play while choosing an expat destination. Prior planning regarding the city you would want to move to, type of residence to book, and children’s education is a must to look into if you don’t want to juggle around at the eleventh hour before departure. We have created a beginner’s guide for tips on becoming a global nomad to get you on the right track for your next adventure!

Being a global nomad can be quite challenging, especially if you are moving alone in search of a fresh and better life abroad. Here are a few tips that will assist you in having an amazing experience as a global expat:

1. Manage Expectations

Having too many expectations apart from the usual ones can prove to be frustrating, especially if you are not very familiar with a particular expat destination. Have an open mind when you relocate to a foreign land. Be prepared to face issues and challenges during your initial days at your desired destination.

2. Meet People and Make Friends

Even if you are not too keen, you should mingle with as many people as possible. Staying indoors won’t help, so venture out to meet people and make friends. Meeting and talking to as many people as possible daily will help you be comfortable during your stay as an expat. Participate actively in community activities and events to boost your network. You will be missing out on a lot of fun if you feel shy and don’t have the guts to communicate with strangers.

Friends

3. Obtain International Medical Insurance before Moving Abroad

No matter how good healthcare facilities are in a particular expat destination, having an international health insurance policy can be very helpful. Unexpected health issues can turn out to be an expensive affair abroad. Visit Expat Financial and get a quote for one of the best global health plans before you decide to move. Remember that countries like Spain may not let you stay long term if you don’t have private insurance. So, it’s always better to obtain one in advance. Click here for a free quote today!

4. Go for Language Classes Immediately

If you are planning to move to a country with a different official language, you should join language classes immediately. By learning the language, you will be able to communicate with the local folks effectively. A communication gap can be a major hurdle in interacting with locals if you are clueless about the main language of your destination.

5. Consider Living Costs

Living costs can vary from country to country. Always check whether your dream destination is affordable for you before you decide to relocate. For instance, the average cost of living in Asian countries is much lower than in any North American or European country. You also need to consider the taxes you will have to pay in your chosen foreign land. You should also bring a laptop that will last and work with the local wifi. Did we mention wifi – make sure wherever you go has high-speed internet access that is both reasonable and dependable.

Living Cost

 

Prepare For an Amazing Global Nomadic Life

It is common knowledge that people in every country are different. There are marked differences in the way they eat or cook food. It is this diversity that you will learn and eventually enjoy as you continue mingling with people in every new destination you explore. Being empathetic and kind towards others can endear you to everyone you meet on your journey and take you places. Always keep an open mind and be kind-hearted while you are living a nomadic life abroad.

Global Nomads

9 Questions To Ask Before You Become An Expat

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9 Important Questions To Ask Before You Become An Expat

Planning to kick-start your journey as an expatriate? Still confused about deciding to settle abroad? Moving to a foreign country on a short-term or long-term basis is in no way an easy choice to make. Your international assignment is a big step in your career, life or even retirement. You may even be going abroad for a few years for extended travel. To make the most of your days on foreign soil, asking yourself a few questions will certainly help. Here are 9 questions to ask before you become an expat living abroad, or even if you have already moved offshore to your dream destination:

1. Where do you want to move to?

Similar to purchasing property, location is a major factor when you are planning to move abroad. Your research about a particular place should help you ascertain whether your expectations as an expat are reasonable. Check out various expat guides online or read what the expats have to say about a particular destination in the bulletin boards. Embracing a career opportunity in a place that doesn’t suit your lifestyle or health may pose several challenges during your stay there.

2. What is motivating you to go abroad?

Some of the reasons why you are motivated to move abroad may include career and financial growth, better lifestyle, lower cost of living, suitable weather, etc. As an expat, you would be investing a lot of time and money, so make sure that you get good returns on all your efforts.

Leaving Abroad

3. Can you communicate in the local language?

If you can’t speak in the local language, learning a few key phrases to at least exchange pleasantries in first-time interactions before you reach your destination can be helpful. After arriving, you can go the whole hog for language classes. Imagine mingling with the locals by speaking their native language. You will surely feel accepted in a new location which you can call your second home once you learn that language well enough.

4. What will be your tax liabilities when living abroad?

Knowing the accurate taxation policies of your expat destination will help you to be better prepared to manage your finances. For instance, a professional in Japan have to pay up to 45% of his salary as tax. Taxation policies may vary from country to country. However, US citizens will have to pay tax no matter where they live and work. It is important to talk to an expat tax advisor if you are moving abroad to discuss your global tax requirements.

Health Insurance

5. Did you purchase International Health Insurance?

OK, we are a bit biased when it comes to the importance of international health insurance. We can’t overstate how critical it is to get global healthcare if you are living abroad. The news and internet are littered with stories about people who moved or traveling abroad without health coverage and were stuck with large medical expenses. You can get a quote for global healthcare quite easily and you can even apply online.

6. Are you capable of handling any emergency, including a sudden move back home?

Your stay abroad should be planned carefully and wisely. Having sufficient money during your overseas visit will help you enjoy a hassle-free time in a foreign country. You can leave some cash in your native place and use it as a financial lifeline to fall back on if required. You can also rent or lease out your property until you are sure about settling abroad forever.

7. How do you motivate your partner and/or children to migrate?

Living life as an expat may be exciting and fruitful for you. However, your family members may not share the same enthusiasm and be motivated enough to relocate. Let them know the positives of being an expat and help them strike a rapport with diverse communities that suit their interests. Learn more about expat kids.

8. Are local healthcare services reliable or do you need private insurance?

Many countries offer excellent healthcare to expatriates, while others offer nothing at all. You would need international health insurance to ensure that you are fit and healthy in a foreign land. Check out the cost of obtaining a new global health insurance plan and see whether it is affordable after your new salary package.

 

9. How will you deal with common obstacles to moving abroad?

There can be many obstacles in your path of being a global nomad. Obvious obstacles include money crunch, work permits, visa, certifications, etc. The hurdles may seem tough to overcome, but proper planning will help you handle every challenging situation. Reach out to people who you feel can bail you out of difficult times.

Next Steps for Expats

After going through these 9 Questions to ask before you become an expat and if you have convincing answers to the questions above, you can plan a nomadic lifestyle in your dream destination. Expat life may not be glamorous for everyone. However, basic steps like going for international health insurance may ensure a happy expat life. Expat Financial can help you make your experience memorable as an expat.

Cruising

Top 7 careers for Expats in South America

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Careers for Expats in South America

Planning to start a new life overseas? If you want to boost your income and travel at the same time, you’ll be happy to know South American countries and cities offer a wide range of jobs for expats. Based on your skills and qualifications, you can definitely find a decent job to take care of your expenses. We have created a list of the top 7 careers for expats in South America that will aid you in your search abroad:

1. Teach English

South America is a continent where English is not the first language; so, there’ll be many people who would invest money to learn it. You can join various language centers or educational institutions if you have a TEFL certificate. As a one-to-one private tutor, you can definitely earn more than what you would in a language center. However, you can get plenty of hours in one place and build a strong network if you work in a center for language classes. There are many companies that can place you in schools and colleges where you can also earn well

2. Get Job in Healthcare

Many South American countries have excellent healthcare schemes; so, finding relevant jobs as a doctor or nurse won’t be too difficult. As a healthcare professional, you will get enough opportunities to provide the care that is required by patients. Depending on the duration of your stay in South America, there are many placement agencies to help you get a job that suits you.

Healthcare

3. Go for Engineering Jobs

Engineers are in huge demand these days in this continent. If you have the desired degree and experience in engineering, you can expect good remuneration as well as job security in Latin American cities. From structural engineering to chemical engineering, you have many options to explore.

4. Take Up Mining Job

The bustling mining industry in South America offers an array of jobs at various levels. Whether you wish to work as an artisan or an executive, finding employment in this sector is easy as the continent is home to huge mineral reserves and producers. Apart from a rewarding career, mining professionals can expect good job security too.

5. Become a Tour Guide

As an expat in South America, you can be an educational tour director or a tour guide. You will also gain a lot of information and knowledge about the top attractions around the country and share them with the assembled tourists or students. Your wanderlust would be satiated as you travel to breathtaking tourist destinations with various study or travel groups.

6. Work in a Hostel

Hostels across South America often look for English-speaking workers, especially during the peak tourism season. During these months, hostels usually look for additional staff to help them with cleaning, housekeeping, and reception work. As a seasonal worker in a hostel, you may be able to get free lodging and food. Your long or short stint in a hostel will also offer you the opportunity to meet young and exciting faces with whom you can chat and hang out.

Abroad Hostel

7. Become Digital Nomad

Today’s young workforce love to be digital nomads, which means that they would be “working from home” and their “home” is worldwide and not constant. Graphic designing professionals, photographers, programmers, and freelance writers can easily fit into the role of a digital nomad, working from anywhere and at their own pace. You will just need a good internet connection though.

Get Prepared To Relocate

Forgoing a career in your native land and moving abroad for a better life is not an easy decision. If you are lucky enough to get a good job in your chosen destination, you will be more than happy to relocate. Don’t forget to check out the job descriptions thoroughly before you apply for jobs in South America. Plan well in advance to ensure that there are no last-minute hiccups.

Purchase International Health Insurance

Although we have created this list of the top 7 careers for expats in South America, it is still important to obtain proper global health care before relocating. No matter where you decide to live your expatriate life, or what career you decide to do, having health insurance is a must. Expat Financial can assist and guide you in obtaining a good international health insurance that would make life easier for you. You can also get a quote online to purchase a health plan that suits your lifestyle and budget.

International Health Insurance

Make sure you research international health insurance coverage before moving abroad

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Moving abroad can be an exciting and life-changing experience for you and your family. If you are going abroad to study, work, travel or retire, it is vital that you be prepared for life’s overseas challenges, including healthcare. Unfortunately, many expats do not properly research international health insurance options before departure and some even think that their domestic plan will cover their health expenses overseas. In this article, we will discuss the importance of international health insurance, healthcare costs overseas in general and how to obtain a healthcare insurance quote online.

Will Your Domestic Insurance Plan Cover You Abroad? 

The short answer is probably no, but you should always check the fine print first. For most Canadians, if you are living abroad for more than 6 months, your provincial medical plan coverage will probably stop covering you and when it does, it will only pay a fraction of the overseas treatment and no evacuation costs. For most other nationalities, the domestic health plans that cover you at home will not pay for medical treatment you incur while living or traveling abroad. That travel medical plan can probably cover you up to six months or a year, but only for emergency expenses, not out-patient care, wellness, cancer treatment and much more. So it is usually best to assume the worst and plan for the best by buying a comprehensive global health policy.

Why Is International Health Insurance Important?

Healthcare systems are operated differently worldwide. Most countries have public and private medical facilities. In many countries, local health care plans may only cover a small amount of medical specialist treatment and prescriptions. Despite the overall quality of medical facilities, medical emergency evacuation is a very important aspect for expats. No matter you are residing in a country with limited medical services, or a highly developed country, the cost of ambulances, helicopters, traveling medical care and planes can be incredibly high if you do not have an adequate evacuation plan.

Expatriates should obtain international health insurance before departure. Such policies can provide you and your expat family with a flexible and worldwide service. It offers direct payment so that you do not need to worry about any out-of-pocket medical expenses. 

Healthcare Costs Overseas 

It has been reported by global researchers that medical costs have been increasing rapidly. In many countries around the world, private medical treatment is becoming more and more expensive. And medical costs for expatriates has also increased. For expats who want to use the private medical system, it is very important to make sure that you are covered by expat health insurance.

What if I Didn’t Purchase an International Health Insurance Plan?

Well, you should obtain a quote and get coverage right away. If you have a global health plan in place, do not cancel it until your new plan is in approved, paid and effective. If you have a Pre-existing Conditions Coverage for Expats pre-existing medical condition that is covered by an existing expat health plan, think very carefully about canceling that plan and perhaps keep it in place as new individual policies require medical underwriting by the new insurance provider.

How To Obtain Health Insurance Quote Online? 

Expat Financial offers various high quality and affordable international health insurance plans for expatriates living abroad and obtaining a quote is very easy. We also offer excellent service before and after you purchase your international health insurance plan as TFG Global Insurance Solutions Ltd, which owns and operates Expat Financial, acts as your independent advocate. Our firm is also very experienced in sourcing group plans for multinational firms with expats.  If you have questions about our international medical insurance plans or you want to discuss your needs and produce a customized quote, please contact us or complete the quote form.

Challenges faced by expats

5 Common Challenges Faced by Expats

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Challenges that expats often encounter while living abroad – Five Plus One.

Moving abroad is often an overwhelming experience for any expatriate. The act of moving to a country that is unfamiliar to your own, a limited social network, and new cultures and languages can often feel burdensome on many people. As an expat moving abroad, there are surely going to be some challenges and obstacles when it comes to the relocation process, as well as the adjustment period once relocated. Many people will react to the stress in different ways as challenges will vary depending on location, cultures, languages, personal mannerisms and general customs of the country. However, there are a few common challenges that most expatriates encounter when relocating. We have put together a list of the 5 most common challenges faced by expats in order to aid in your settlement into your new country and allowing you to enjoy this adventure to the best ability possible. Note that the challenges below are in no particular order of importance.

Challenge #1: Fitting in

As an expatriate moving abroad, there is a big chance that you are leaving a large social & professional network back home. This can have a huge effect on someone, especially if you are someone that places a high significance on these relationships. Don’t fear, you are definitely not the first, nor the last expatriate to have the fear of not fitting in properly in your new city.

Challenge #2: A language barrier

If you are moving to a country that has an entirely different language than your own, the process of getting accustomed to your city and the locals may seem daunting. This is something that is ultimately unavoidable if you don’t know the local language beforehand. Read all about our advice on learning a new language while living abroad in order to facilitate the process, and jump-start the learning curve for your new life abroad! We do recommend trying to learn a rudimentary level of the foreign language before you take off, as it will facilitate the entire process of moving overseas!

Challenge #3: Being lonely

Don’t let the fear or the potential of being lonely prevent you from embarking on a new adventure and impede your decision to become an expatriate in a foreign country. It is extremely common for a new expat to feel lonely when they first move abroad. A key point to target when you relocate to a foreign country is to build strong relationships with the people around you. This will surely take some time, but it is important to try your best to form some bonds with the people and the city in which you now call home.

Challenge #4: Finances & money management

Organizing your finances, taxes and money management can be extremely difficult when you are living in your home country but adding overseas travel and living abroad to the mix, and things get very complicated. As an expatriate, you will have to decide if you will become a non-resident for tax purposes by talking to an expat tax expert – do not try to do it on your own. We have a list of some great expat tax advisors at our Links page. You will also have to advise your bank that you will be living abroad and probably have to set up new banking in your new home country. Most countries will want to see your visa documents and also some proof that you will be living there. It may be useful to keep your bank account back home as well. Having a bank account in your new host country in the local currency will still be invaluable and probably save you on foreign exchange. You may also have to move your investment account as well, so talk to your investment advisor and tax accountant to see what solution works best.

Challenge #5: Healthcare 

Making sure you have proper global health insurance while living abroad is one of the biggest concerns that many expatriates worry about when it comes to relocation. Local plans in your new host country may not be up to your standards and may only provide basic coverage and access to local hospitals. Most expats want to have access to private healthcare both in the host country, regionally and also for treatment back home. Having an international health insurance plan in place before leaving abroad will alleviate stress with finances, ability to obtain medical help and peace of mind for the duration of your relocation. Contact us today to discuss all your international insurance needs!

Challenge #6: Safety 

Yes, I know we said only 5 challenges, but we really needed to add expat safety to the article. As discussed in our expat safety page, personal safety is a very high priority for individual expats and expatriate employers and global mobility managers. While the world is safer now than it has been in the past, today’s security concerns and challenges range from terrorism, bombings, assaults, thefts and much more. It is vital that expats prepare for the worst when moving abroad and check out the local security in their new home country through both free and even paid information sources. Even expat destinations in first world countries can be fraught with danger – such as the terrorist attacks in Europe and mass shootings experienced in the USA. Expat safety should definitely be your priority if you are moving abroad or already living the expat life.

Healthy Living

What to consider when you are relocating abroad

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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.

Heart Rate

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.

Health Insurance

What to consider when moving abroad as an expat

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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.

International Health Insurance

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.

Expat Careers

Top 10 Expatriate Careers in 2019

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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.

Tourism

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.

Photography

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.

Business

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.