• 01
  Jun
  2010

• Expat Term Insurance: Do You Need It?

  
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When you’re starting life as an expat, there are several things you will have to do before moving to a new country and culture. One of those decisions will be your term life insurance plan. First, you need to figure out whether your current life insurance plan will be valid abroad.

If your current insurance plan is valid even when you pass on when abroad, think about whether you really need extra insurance cover. You may actually not need any more insurance than you currently have. Check that first with your current insurance provider.

If the country you are posted in has a higher cost of living than the U.S., you may want to consider a minimal increase in coverage. If the country you are posted in has a lower cost of living than the U.S. (Brazil, for example), you may choose to remain with your current level of cover.

If your current is not valid abroad, you will need to get a new term life insurance policy for the period that you are abroad. A specialized international term life insurance plan such as IC+ Term Life Insurance will serve you well in this situation.

• 31
  May
  2010

• Additional Services Add a Lot to Expat Term Insurance

  
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The IC+ Term Life Insurance plan is one of the expatriate term life insurance plans available for citizens of the United States. The plan also offers other services for the insured, keeping in mind that the expatriate is essentially an extended traveler in a foreign land.

These services can prove to be very important to an expat, who might be struggling with various issues before departure. There are doubtless many issues to take care of before leaving the home country, including personal and professional commitments.

Some of the assistance services that the IC+ Term Life Insurance plan provides include pre-trip health and safety advisories, which helps the would-be expatriate receive information on passport, visa, and immunization details for the destination country. While most companies that send an employee overseas have a medical examination performed free of cost, this information from the term life insurance company can help have a check list handy, to ensure that nothing is left out.

In case the insured needs travel services such as travel and itinerary changes, including cancellation or rebooking of flights or accommodation, a call to the travel assistance services department can take care of that as well. This service can also extend to ground transportation, including rental car arrangements. There are other services that one can avail of after landing at the destination as well.

• 28
  May
  2010

• Don’t Buy Term Life Insurance Without Researching Online

  
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Term life insurance is one of the smartest financial planning decisions you can make. But to make certain you are making the very best decision possible when buying it, you should be sure to research policies online.

Researching policies online will allow you to view features offered by different plans. You can compare these features and benefits to find the plan that best suits your personal needs and offers the greatest flexibility for your situation. That way if the plan does need to be used, your beneficiaries will have no problems getting the support they need.

Going online to research also allows you to compare prices. While term life insurance is a relatively inexpensive investment, it is always important to get the most possible value for your money. Comparing policies online allows you to make certain you are getting the maximum amount of coverage for the least amount of investment.

Finally, you can read reviews and opinions from impartial third parties online. The internet gives everyone a voice, and if someone has had a good or bad experience with a service provider, you can find out about it online. You can see if a company offers good customer service, if people find the plan’s terms to be easy to understand, and if beneficiaries had any trouble when it was time to use the policies. By reading reviews, comparing features, and researching prices, you are sure to make the right term life insurance purchase.

• 27
  May
  2010

• Accessing IC+ Term Insurance Online

  
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Most insurance companies now have an online portal where plan holders can perform many a task using their login information. While the necessity or utility for an online portal for life insurance, especially term life insurance, may be minimal, the IC+ Term Life Insurance portal offers many services keeping in mind the nature of the plan.

Accessing the online Client Zone is easy. With just the policy number and the date of birth of the policy holder, the login password can be created. The Client Zone helps you access the plan and its details from around the world, perfect for the expat.

The Client Zone is a place where the insured can access many details about the insurance plan. The portal lets the plan holder change his/her personal information where appropriate. This might mean a change in name (if the insured gets married during the plan period, say), or U.S. address (if the family moves).

The Client Zone also displays the benefit booklet corresponding to your plan. You can also get and print claim forms, and locate doctors and hospitals using the portal. If there are any travel advisories in effect, you can also view these online. These are features that can really help an expat deal with life in a foreign land, and ensure that the term life insurance plan is actually never paid out!

• 25
  May
  2010

• Common Mistakes When Buying Term Insurance

  
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While it may be an easy decision to purchase term life insurance as an expat, there are several things to think about when you actually evaluate different plans. It might not be an easy task to locate an insurer, but once you do, here’s what you can do to ensure reliable coverage.

First off, do not rush to purchase expat term life insurance from the first company that offers it to you. Even if the rates seem reasonable, and the coverage good, remember to ask around. When comparing rates, do not look at rates from plans purchased years ago. Term life insurance quotes have really plummeted and it is highly likely that older rates are much higher than what a typical plan would cost today.

Second, do not think about covering only your portion of the family income. Typically, you would want to consider a plan that will help the family be able to maintain their lifestyle after your passing on. Keep in mind that there are other non-tangible aspects of your life which might have to be replaced by monetary means. For example, your family may need to think about daycare, or hiring a helper.

Third, do not forget about your expat term life insurance once you purchase it. Remember that changing life circumstances may require you to change your plan, or purchase additional coverage. Keeping these things in mind will certainly help you choose a plan that will keep your family in safe hands.

• 24
  May
  2010

• Benefits Add Up with IC+ Term Life Insurance

  
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When your first overseas assignment is finalized, you are likely to be all gung-ho about the new country. In some circumstances, though, you will be forced to leave your family behind, especially If your children’s education is involved. In any case, sooner or later, you will have to consider expat term life insurance.

First off, you’d want to check whether your current life insurance extends abroad. In most cases, unfortunately, it doesn’t. That might mean that you will require insurance to cover you during your period abroad. HCC Medical Insurance Services offers the IC+ Term Life Insurance plan that is tailored especially for expatriates.

The term insurance plan offers coverage of up to $2 million, with terms from one to ten years. Some of the plan options include a terminal illness option which pays out half the amount if you are diagnosed with a terminal illness with less than a year to live; a double indemnity option with double the coverage in case you pass on as a direct result of a covered accident; and the basic plan option.

As an expatriate, though, remember that the IC+ Term Life insurance is only valid abroad. If, for example, you purchased the plan for an initial period of three years and your company extends your stay by another two years, you might have to purchase an additional policy, at a different rate.