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Protecting Your Expatriate Family
If you and your family relocate overseas, one of your first priorities from a financial planning point of view may very well be establishing health care. Costs and services abroad can differ greatly to what you are accustomed to 'back home'. Therefore it's essential to make sure that you are fully covered. Starting with straight health insurance for you and your family you may then need to consider both critical illness insurance and income protection. Making sure that you have the important insurances in place will afford you greater peace of mind coupled with greater security as a family. Personal peace of mind will enable you to get on with enjoying your time abroad and allow you to concentrate on establishing long term financial freedom. Health insurance In terms of health insurance, it's essential to make sure that you and your family are covered in your new country of residence and also when travelling. Always make sure that you are comfortable with any restrictions or limitations of policies recommended to you, and any excess you may be liable for in the event of a claim. Medical costs differ greatly around the world, as do the standards of treatment available. Find out what services are available in your country of residence, what your expatriate insurance covers you for, and always make sure that you have the option to repatriate in the event of an emergency. There are so very many companies offering health insurance to expatriates in the marketplace today and all come with features, benefits, exclusions and exceptions. I would recommend that you speak to a financial adviser to find out what your best options are depending on your personal needs and those of your family. With something as precious and essential as your health are you prepared to accept second best? Know what's available and be a smart buyer! Critical illness insurance Critical illness insurance can take away stress and financial strain if ever you are incapacitated through serious illness. Financial expenditure and outgoings will not cease if you are taken ill: your ability to provide for your family will however cease. Critical illness insurance is designed to payout in the event that you are unable to work due to serious and ongoing illness. Income protection insurance Income protection insurance may also be available to you and of interest. This insurance is used to replace a percentage of your income if you are unable to work through injury or illness. Life Insurance As an expatriate living in a 'foreign' country there are many uncertainties, upheavals, unknowns and concerns especially when it comes to fiscal matters. Life insurance is one of the most important products when it comes to peace of mind. You want to protect your loved ones in the event of your death - protect them financially and emotionally. For your family to maintain the same standard of living in the event of your death you have to make sure that you have the correct type and level of life insurance. The type of life insurance you need depends on what you want to achieve with your policy. If you simply require insurance against your untimely death for the fixed number of years of your offspring's childhood for example, this can be arranged via level term life insurance. Decreasing term insurance can be used to pay off a mortgage or other loan in the event of your death during the outstanding period of the loan. Whole of life insurance is exactly as it sounds - it covers your beneficiary in the event of your death whenever it occurs. And annual renewable life insurance can be used by expatriates who wish to insure themselves one year at a time depending on their changing circumstances. Life insurance policies are available for your whole family and are definitely something worth considering when it comes to financial peace of mind. First steps Whether you are a new expatriate, an expatriate in a new country, or an expatriate worried about the levels of insurance you have for your family, you shouldn't put off until tomorrow that which you can get done and dusted today! Yes, insurance is boring!But insurance does bring protection.And protection brings peace of mind. When it comes to financial and wealth management and making your money work harder for you and your family, the first step is to actually make sure your current position is secured. We all know that we should have enough in the bank readily to hand to cover a rainy day or an emergency trip back home - but at the same time we need to look out for ourselves and our family today as well as securing our future tomorrow. Based on your country of residence, country of domicile, intention to remain or repatriate, and the needs and requirements you have, a financial adviser will be best placed to advise you when it comes to all your insurances and assurances. Rhiannon Williamson is the publisher of http://www.shelteroffshore.com/ - the online resource for expatriates, international investors and those dreaming of a new life abroad. Shelter Offshore features three main channels - offshore investment, property investment abroad and overseas lifestyle. Rhiannon Williamson also offers readers the chance to receive a free financial review or to improve their overall financial planning with 'The Offshore Advantage' http://www.shelteroffshore.com/index.html/shelter/offshore_advantage/ This free guide teaches readers how to build secure wealth using their secret offshore advantage.
Latest News:Site: Yahoo! News Search Results for news Futures flat; Lehman buyout news, data awaited (Reuters via Yahoo! News) Stock index futures were little changed on Friday as investors awaited news on the fate of Lehman Brothers after a slide in its stock this week heightened fears over whether the investment bank can survive. Myanmar's Suu Kyi to get family letters, news mags (Reuters via Yahoo! News) Detained Myanmar opposition leader Aung San Suu Kyi has managed to wring small concessions from the ruling generals in the form of letters from her family and some international news magazines, her lawyer said on Friday. SEC Looks Into UAL Stock Scare; Implications For Online News? (CBS News) A ton of digits have been devoted to this in other spots but the SEC's decision to investigate takes it to another level. The backstory: a six-year-old news story about UAL declaring bankruptcy made it into the Tribune-owned Sun-Sentinel 's current news flow, was picked up by a Google (NSDQ: GOOG) News bot and, via a reporter for a newsletter, made it onto Bloomberg News. After a lot of buck ... JCDecaux in talks for News Outdoor Group in Russia (AP via Yahoo! News) French outdoor advertising firm JCDecaux SA said Thursday it is negotiating to buy Russian rival News Outdoor Group from global media company News Corp. News Corp tightens grip on Premiere with new CEO (Reuters via Yahoo! News) Rupert Murdoch tightened his grip on German pay-TV broadcaster Premiere by appointing News Corp executive Mark Williams as CEO in a move to get the company back on track. Phila. mayor to announce grim budget news (The Philadelphia Inquirer) The Nutter administration is expected to announce grim budget news today, which is all but certain to lead to significant spending cuts - perhaps as high as 10 percent - in some city departments, according to three sources familiar with the budget. Help News pick Stadium's greatest moment (New York Daily News) The News is marking the countdown to the final game at The House That Ruth Built by reflecting on Yankee Stadium's greatest moments - and we're asking you - the reader - to help us pick out the best of the best. JCDecaux and News Corp. in talks to combine outdoor ad groups (International Herald Tribune) The News Corp. chief executive, Rupert Murdoch, has recently expressed nervousness about investments in Russia, where News Outdoor generated the bulk of its revenue last year. SEC Looks Into UAL Stock Scare; Implications For Online News? (paidContent.org via Yahoo! Finance) A ton of digits have been devoted to this in other spots but the SEC's decision to investigate takes it to another level. The backstory: a six-year-old news story about UAL declaring bankruptcy made it into the Tribune-owned Sun-Sentinel's current news flow, was picked up by a Google News bot and, via a reporter for a newsletter, made it onto Bloomberg News. JCDecaux in talks to buy News Corp. billboard unit (AP via Yahoo! Finance) In a deal that would create the world's largest outdoor advertising company, French conglomerate JCDecaux SA said Thursday that it is in talks to buy Russian rival News Outdoor Group from global media company News Corp. Site: news - Google News News Analysis A Difficult Road Awaits Panetta at the CIA - New York Times
MORE RESOURCES: Site: Yahoo! News Search Results for insurance NC insurance commissioner orders lower auto rates (AP via Yahoo! Finance) North Carolina State Insurance Commissioner Jim Long on Thursday rejected an industry request for an almost 13 percent increase in auto rates and has ordered a reduction instead. Auto-insurance rates in N.C. ordered cut by 16.1 percent (Winston-Salem Journal) N.C. Insurance Commissioner Jim Long rejected yesterday an industry request for an almost 13 percent increase in auto rates and has ordered a reduction instead. Survey: Insurance Industry Expects Subprime Issues to Negatively Impact 2009 Performance (Insurance Journal) Insurance executives expect subprime and other credit issues to continue to have a significantly negative impact on the industry's financial performance in 2009, and they see credit and pricing risks Nevada Names Baker Acting Insurance Commissioner (Insurance Journal) The Nevada Department of Business & Industry named Betty C. Baker acting commissioner of the Division of Insurance. Baker will oversee the Division while a replacement is sought for Alice Molasky-Arma Here's the lowdown on 'private' bank and broker insurance (USA Today) Q: I've noticed several banks and brokerage firms claiming they have private insurance that protects accounts above the FDIC and SIPC limits. Should investors trust those promises? State unemployment insurance claims up (Macon Telegraph) The Georgia Department of Labor announced Thursday that 59,090 laid-off workers filed first-time claims for unemployment insurance benefits in August, an increase of 72.1 percent from August 2007, but a slight decrease from July to August this year. Fitch Ratings Gives Island Insurance an "Aq" (Insurance Journal) Island Insurance Co. Ltd., Hawaii's largest locally owned and managed property and casualty insurance carrier, has reaffirmed its "Aq" rating for Quantitative Insurer Financial Strength (Q-IFS) by Fit Looking for Free or Low-cost Health Insurance? (Carteret County News-Times) (ARA) - It's no secret that accessing health care is a challenge for the 47 million Americans who are uninsured. Lack of health insurance forces many Americans to choose the health care they receive based on what they can afford, not what they actually need. Uganda: Health Insurance May Face NSSF Fate (AllAfrica.com) The government has finally resolved that all salaried workers and employers, will with effect from July 2009, be required to make compulsory contributions to the new National Social Health Insurance Scheme. The net inflow from life insurance companies into equity stood at Rs550bn till March 31, 2008 , foreign institutional ... (India Infoline) The life insurance industry was the largest investor in the Indian equity markets, ahead of foreign institutional investors and mutual funds, according to the reports. Site: insurance - Google News Obama Plan for Government Insurance Draws Criticism - Bloomberg
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