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Income protection | 27
A financial safety-net
for your life abroad
Insurance is an absolute must for the
sensible expat
by Rosanna Turner,
Marketing Manager,
William Russell Limited
N
o one likes to think about ill- their effectiveness is left behind when you pass International private medical
health and fatality, but when the border control of your home nation. Some insurance
you are living overseas it is plans may provide some security overseas, but If you need medical attention you’ll have to
absolutely essential to have they are not designed for the job. Your level of visit a private hospital or clinic and pay for
secure insurance arrangements protection may well be reduced through exclu- your treatment. PMI is designed to cover these
in place to protect your health sions, and the claims process could be a night- costs – but take care as it comes in many guises
and your financial well-being if something mare. and as an expat you need to make sure that the
untoward happens. In this article, I will consid- Expats need protection products designed policy you buy is geared to the international
er the products that are available to protect you for international living if they are to provide lifestyle. International PMI is designed to pro-
and your family should the unexpected strike. effective financial security for themselves vide access to emergency medical treatment
International living offers expatriates an and their families. Designed specifically for around the world, full emergency medical
excellent lifestyle, with tremendously reward- expatriates, these provide full protection all evacuation cover, local 24/7 emergency assis-
ing career opportunities. Most countries, how- around the world, international claims capa- tance and a high level of financial protection.
ever, gear their social services and insurance bility and 24/7 emergency assistance. Our Global Health Elite Platinum plan, for
products to the needs of the local population. William Russell is one of only a few insur- example, provides the widest possible cover
They may therefore provide expats with a ance providers to offer a suite of specialist with high value benefit for maternity care,
reduced level of protection against life’s emer- insurance plans to expatriate customers. These routine and complex dental treatment, regular
gencies than they would expect in their home fall into three main areas: preventive health screening and an exception-
country. International private medical insurance ally high amount of cover for the treatment of
It may be that you are living in a city, or in (PMI) to give you and your family fast access chronic conditions.
more remote parts of the country. Perhaps you to the highest levels of medical treatment
have children, or your partner has joined you. wherever you are in the world. This should International income protection
Or perhaps you have been seconded overseas, include optional travel and personal accident for salary replacement
or you’re going it alone. Whatever your person- insurance Medical emergencies are not the only risks
al circumstances, it’s essential to make sure that International income protection to replace faced by expats. If you suffer an illness or acci-
you have the right insurance products in place your salary if you find yourself unable to work dent that leaves you unable to work for a
to provide you with the level of protection you due to long-term illness or injury length of time, you’ll need an income while
need to match your lifestyle. International life insurance to protect your you recuperate. Income protection policies are
family’s finances if the unthinkable happens insurance plans designed to provide you with a
Protection products and you’re no longer there to provide for replacement income while you are unable to
Most health and protection insurances are them. Plus optional accidental death and dis- work. Again it is prudent to buy a plan
designed for domestic markets and much of memberment benefit designed specifically for expats as you are
www.investmentinternational.com March 2009 Investment International
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