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Relevant insurance plans for a residency abroad

Whosoever travels overseas should take care to find health and social coverage beforehand. Depending on the destination country and provisions of the work contract regarding wages, social security protection may entirely or partially be omitted. Insurance providers have developed various concepts that guarantee your social coverage as well as that of your relatives abroad.

These policies consider whether you will be staying abroad for a brief or extended period, or even permanently. Many a person would simply like to make a trip around the globe, and others desire professional challenges overseas. Students undergo an internship or a semester abroad, and many also elect to work as an au-pair.

So, based on personal situation it must be decided which policies are required, even just to apply for a visa, and which may be sensible but not urgently required.

Health insurance
In essence, this is required for a visa application - and obviously it is urgently recommended. An illness overseas invoiced as a private patient can quickly cost more than $1,000 USD. Based on the range of services, expenses of varying degree will arise.

Liability insurance

One of the most important insurance policies after health coverage is liability insurance. This may also not be avoided abroad. One's policy from home may cover private liability insurance for short trips, but for longer stays this must be finalized separately.

Accident insurance
Private accident insurance covers a capital payment and/or accident benefits for the contractually insured person(s) in an insured event. Unlike legal accident insurance, this insurance policy covers accidents worldwide and around the clock, provided nothing contradictory to this has been agreed. This may be a particularly sensible policy for families.

Private pension plan
Especially during longer residencies abroad, one should consider a pension plan. This may occur through capital reserves, real estate or insurance policies.

Legal expense insurance
Germans love their legal expense insurance. Legal expense insurance for motorists is especially sensible for those who partake in road traffic abroad.

For all additional available insurance policies, it is recommended that you speak with various providers and only use the policy you require and understand.