Venezuela is a South American country on the northern coast of South America. Its economy is dominated by the oil industry and has the largest proven reserves of oil in the world, but mismanagement and corruption by the government have meant that the country has experienced a collapsing economy, poverty and civil disruptions. There are high unemployment and crime across the country, including the capital city of Caracas. It is important that any visitors or expatriates in Venezuela take precautions to not be caught by the crime wave that the country has been experiencing.
It is widely accepted that the health sector in Venezuela is in disarray. Despite huge resources employed by the government towards the public health system, there is still a lack of staff, equipment and beds for the population. Corruption has further impacted the healthcare resources in Venezuela and the economic crisis has not helped. Even the crime wave has affected hospitals as armed bands and criminal groups have fought within health facilities. The country was recently listed in 2015 as the worst place to work by the CATO institute.
Insurance for Expat in Venezuela
It is critical that expatriates not rely on state-run or private programs and purchase international health coverage that will provide private medical care and access to hospitals outside of Venezuela. Kidnap coverage and emergency medical evacuation and repatriation are also vital. Our firm can also potentially source global medical insurance plans for some local nationals in Venezuela.
Here is a list of different types of insurance coverage you will want if you are planning to become an expatriate in Venezuela:
- International Health Insurance
- Expat Life and Disability Insurance
- Travel Insurance
- Evacuation Coverage
- Special Risk Plans
- Kidnap & Ransom
- Group Expat Insurance Plans
If you require a quote for Venezuela expat insurance cover, contact Expat Financial today for a quote. We can also source international health plans for some local nationals in Venezuela. Please send along any relevant risk information that may be available.