What to look for when buying international health insurance

If you’ve taken the plunge by relocating to a foreign country, you’ll know that it can be a major culture shock. From the moment you arrive you’ll need to make some serious adjustments to your lifestyle.  There will be differences everywhere, from the weather to needing to learn a new language or being sensitive to different traditions and trying not to put your foot in it. However, there is one issue that all expats acknowledge must be taken care of upon landing on foreign soil (if not before), and that is a good global health insurance policy.

General wanderlust, overseas assignments and studying abroad offer fantastic opportunities for adventure and excitement, yet it also brings into sharp focus the very real need to take responsibility for your health and welfare. There is no getting away from the fact that expat health insurance is not a particularly riveting subject and no one likes spending on a service that they hope never to use, but you need to get over it. Should the worst happen; you suffer an accident, mugging or emergency, you’ll want to know that you are covered for treatment and that you can speak to an insurer in your own language, should you need to claim.

Expats account for around 3.1% of the global population, a figure that continues to rise each year. So, it’s no surprise that it is possible to find international health insurance designed to cater specifically for the expat lifestyle and unique challenges you will face.

That said, you need to shop around, not all providers offer the same standard of products and many don’t specialise in expat coverage. As a rule of thumb, you shouldn’t base your choice solely on cost, as you are likely to get what you pay for.  Here are 5 of the most important issues that you should never compromise on, when selecting the best international medical insurance.

1) Direct payments to health care providers

Make sure your global health insurance policy doesn’t require you to make payments first before you claim. Don’t wait until you’re admitted to hospital to find out if your insurer will pay your medical bills directly or if you will need to claim back the expenses. No one wants the hassle of collating paperwork, then going through a nail-biting wait whilst your claim is being approved.

What you want is peace of mind at such as stressful time. Policies that work on a pay and claim basis could leave you tens of thousands out of pocket, and should be avoided.

2) Expat Insurance with no language barriers

You need to check that the health insurance company you choose doesn’t only operate in the local language. Sales material and info may be printed in English, but it is also essential that you can communicate when making a claim or discussing any other aspects of your policy.

One of the safest ways to make sure you have a suitable policy is to check that the company specialises in expat solutions, so that they can deal with your needs quickly and calmly.

3) Does your global health insurance policy include a lifetime renewal option?

As you get older your premiums tend to increase as your options are reduced. Some health insurance companies will not cover older clients, as soon as you hit 65 it’s “thank you and goodbye”!  You should look for a policy that offers a lifetime renewal so that you can continue to be covered.

4) Are you covered for mental health and wellness benefits?

Many people suffer from mental health issues throughout their lifetime. Expats are particularly susceptible due to the lack of local support as being away from family and friends can magnify the dangerous risks of stress and anxiety. A US study found that expats are twice as likely to suffer depression.  It is advisable to choose an insurance policy that will acknowledge these issues by including mental health support and counselling services as part of their expat health insurance policies.

5) You may need death benefit

If you have a family, you should look for an insurer that offers a lump sum in the event of your death. Your family will need both practical and financial assistance at a time of great stress and sadness. You could check out the expat health insurance policies on RegencyforExpats.com for this type of cover.

Finally, although desperately boring, by putting in the legwork and asking the right questions from the beginning, you could save a lot of hassle, stress and money, leaving you free to get on with enjoying your globally mobile lifestyle.