It has been recently noted by the World Health Organization (WHO) that there were approximately 1.24 million deaths on the world’s roads in 2013. Traveling on the roads of the country you are living in is a critical component of an expat assignment or business trip. It is a good idea to investigate and understand the risks factors and take steps if possible to protect your safety. The WHO report also noted that 28 countries have comprehensive road safety laws. It has been further reported that some of the most dangerous road safety stats are in Malaysia, Cambodia and Colombia. Countries such as Norway, the United Kingdom and Sweden have the best traffic safety records according to the OECD.
Many expats are planning or have already booked a trip home in Christmas. When heading back from an expat assignment, we need to get a list of things such as plane tickets, gifts, hotels, etc. However, many may forget one less obvious thing: international health insurance. Be aware of your options for health care insurance coverage while you are celebrating Christmas with your family this winter.
When you are an expatriate living abroad, you are initially faced with the question of local versus international health plan? Which is better for my expatriate assignment, long-term travel or overseas retirement? Some countries can offer local health coverage to expatriates after an initial waiting period. However, the truth is, the local medical plans are not designed for expatriates. An international health insurance plan can provide superior coverage for you and your family that will cover you both locally and globally.
Amazing news for all you global expats. Cigna International is offering a simple Cash Back offer for the Month of October. This first-time promotional period runs from October 1, 2015, through October 31st, 2015. So if you are in the market for an international health insurance plan, this would be a great time to get a quote and apply.
The other day our firm was contacted by a teacher who was wanting to work abroad at an international school. She noted that the school that was interested in hiring her would not cover the pre-existing medical condition, which in this case was Diabetes. The diabetes medications are quite expensive, and the individual was at risk of incurring significant medical claims that an individual expat health plan would probably not cover.
It has been announced recently that Iran and the Western powers, especially the United States, have reached a preliminary deal on the nuclear issue with Iran. There have been intense negotiations between the major Western powers and Iran for many months. It is anticipated that if a nuclear deal is finally reached and approved, then sanctions will slowly be lifted. At present Iran has been crippled by many years of economic and political sanctions imposed by the UN and Western nations. It has been near impossible for countries to do business with Iran, which is in dire need of the expertise and investment – especially in their oil and gas infrastructure. If the sanctions are removed, there will almost certainly be an influx of foreign businesses and their expatriate employees into Iran. Some foreign companies are already in Iran.
Almost all international health plans will either include medical treatment in the USA or exclude it. Some global medical plans will give individual expatriates the option to purchase coverage in America at an extra cost. For some plans, this can mean a much higher premium while others may include it for American nationals residing abroad at a fraction of the cost. Most American expats living abroad will seek out a global medical plan that provides for the USA because if they suffer a severe medical illness or injury, the expat will most likely want to seek medical treatment back home in the USA. For non-US citizens who are residing in the USA who are not eligible for a local health plan on a group or individual basis, it is critical that one purchase a medical plan that includes treatment in the United States.
David Tompkins, President of TFG Global Insurance Solutions Ltd., which owns and operates Expat Financial, will be speaking at the Global Human Resources conference in Toronto on June 18th, 2015. The theme of the event will be on growing global business and managing mobile talent. The objectives of the conference are to help HR managers who employ expatriates around the world. Business leaders will be attending and will learn how to acquire the best talent of the positions, local and right price in the globalized business environment.
Going abroad is a huge financial and emotional commitment for expatriates, but even more so if you add maternity to the mix. The importance of maternity coverage is even more important if you will be residing or traveling abroad, especially if your travels will take you to the USA. Travel insurance plans will generally not cover pregnancy-related expenses, especially in the last three months of pregnancy. If a pregnancy has any complications, then you can rest assured your travel insurance policy will not cover any expenses should there be a premature or regular birth. This was made quite clear in the news recently as a Canadian couple purchased travel medical insurance to cover their trip to Hawaii. Only two days after their arrival the mother’s water broke and was prescribed bed rest and was unable to be repatriated back to Canada.
It has recently been reported by the Global Terrorism Index 2014 report that deaths from terrorism rose by 61% from the previous year in 2013. There were nearly 10 thousand terrorist attacks in 2013, which is a 44% increase from 2012. Iraq is the country that is the most impacted by terrorist attacks thanks to al-Qaeda and the Islamic State (ISIL or ISIS). A report from the Institute for Economics and Peace remarked that 18 thousand people died from terrorism-related injuries in 2013. Syria and Iraq are fueling a dramatic increase in terrorism, but Boko Haram in Nigeria is also responsible for the global increase. Further destabilization in the Middle East will only increase the amount of terrorism in the world. Even Turkey and Mexico are experiencing higher rates of terrorism.
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Note: Some of the products and services described or advertised on this site may not be available to residents of certain jurisdictions, depending on regulatory constraints, including Canada and the U.S. Please contact TFG Global Insurance Solutions Ltd. for more information about your specific jurisdiction. If you or your company requires a policy that is billed to the USA, please contact us and we will refer you to a broker located in the USA. The policies we offer via TFG Global Insurance Solutions Ltd. or its related web sites are not available to citizens currently residing in the USA when taking out the policy.