Helping Expats Help Themselves

A Revolution in expat finance

Protection

why it's important!

Sound financial planning starts with protection. This means making sure there’s money to pay debts and provide for your family, if you’re not around. It means having income available in times of ill health or that you can pay medical bills when they arise.
 
When we move abroad making sure that our protection works for us is essential. Living overseas means that you don’t have access to the benefits system in your new country. If we get sick there’s going to be medical bills that need paying and there’ll be no subsidised medication. Sick pay will fall at the discretion of our employer and if we’re sick for a long time we may find that this has limits. If we lose our job there won’t be any unemployment benefit we’ll need to head back home. So making sure that we have adequate protection benefits in place and that they work,well you get the point.

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What changed and what to look for!

Also don’t assume that the products that you’ve used in the past will still work. Let’s take life insurance as an example. All those policies that you’ve got from back home, chances are they don’t work anymore. The thing is 90% of all domestc insurers stop coverage once you’ve been living overseas for six months. With critical illness, disability and income protection cover ends almost immediately. after you’ve left the country. You won’t need telling that your health insurance policy isn’t going to work either.
 
One of the other issues that expats face is they move on a frequent basis. So what happens when you get reposted to another country? That depends how you’ve set things up. If you’ve used domestic protection products then you’ll have to find new products. If you’ve had any health issues then getting insurance could be an issue. So when it comes to protection benefits for expats the key is portability. That mean international policies that provide you with cover wherever you move. Continuity in your cover is important and means if your health status has changed you’re OK.

Life Insurance

Does Your policy work for you? Find out what you should be looking for.

Critical Illness & Disability

What can you expect?

Income Protection

What do you need and how does it work?

International Medical Insurance

What do you need?

Where we're at!

Unfortunately, most offshore financial advisers have either forgotten about or ignore protection benefits. They view it as too much hassle a paperwork overload. As a direct result the product options available for international protection has dwindled.
 
Protection benefits are the cornerstone of your financial strategy. Ignoring them is a mistake which will leave you exposed. There’s no point in putting money away for your kids education when you don’t have life insurance. If you have a mortgage and don’t have life cover then you’ll be leaving your family with a whole heap of debt to pay.
 
Make sure you prioritise your protection benefits.

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