by MARK SNEED, Vice President • INSURANCE SERVICES OF AMERICA
health@globalcitizeninsurance.com • +1-800-647-4589/ 480-821-9052THE NEED FOR INTERNATIONAL COVERAGEMost times, when living overseas, traditional sources of US private, group, or HMO health insurance will not meet your employees’ needs. Geographical exclusions and provider limitations common to these policies will restrict or even eliminate the health insurance coverage available to them while they are outside the USA. At the same time, they may not be eligible for participation in a foreign government run health care system. Most Americans desire not to get involved with government run health care, but want access to health care in other countries on their own terms.
WHEN EMERGENCIES HITIn the event of a dire emergency, where an employee needs to be air evacuated from one country to another for proper treatment, who pays for this tremendous expense? Medical evacuations can easily reach into the tens of thousands of dollars! In the event of a death overseas, who pays for the return of remains back to America for burial? It is not uncommon for a grieving family to be left with the burden of paying tens of thousands of dollars to have a body returned from overseas.
THE GOOD NEWS!The good news is that US style health insurance plans are now available at very reasonable rates for individuals or groups, who are living overseas. These plans can cover up to $5,000,000.00 of major medical expenses, plus emergency medical evacuation, repatriation of mortal remains, accidental death, and they automatically include other important features such as a 24-hour, worldwide assistance telephone number.
LIFE INSURANCEOne last item to consider for anyone going long term is life insurance. Many US life insurance companies frown on insuring the life of workers living in other countries. To fulfill this need, seek out an "international" life company. Lloyds of London, for example, provides affordable coverage for US workers and expatriates living overseas.
NOW WHAT?
Now the obvious question as an employer is - where do I get more information and a quote on international health or life insurance? Well, the average insurance broker doesn't have a clue! These types of policies are not found on every "street corner". However, there are some insurance agencies that specialize in providing international health & life quotes. A few that you may wish to look up are:
http://www.globalcitizeninsurance.com/,
http://www.worldwidemedical.com/ and
http://www.overseashealth.com/.
In a post-9/11 world, as people continue to travel and live abroad, the need for international health & life insurance is no longer a luxury, but has become just as important as obtaining a passport! So, when your employees leave our borders make sure that their insurance goes with them!
Mark Sneed is the Vice President of Insurance Services of America, a company that specializes in international health and life insurance. With over 4000 agents nationwide, they are one of the largest marketers of international health, travel and life insurance in the US. Utilizing some of the oldest and most respected insurance companies in the industry ISA is able to offer a wide variety of plans for groups of any size as well as the individual expatriate.
