17Oct

What Insurance Do I Need Abroad?

Living a nomadic life can be an exciting one. The culture of traveling and living in a country other than your own is now more than just a trend but a life choice for many individuals and whole families.

On top of the usual preparations of finding a place to live, knowing where and how to reach the expat community and learning the culture of the country, you also need to make the necessary arrangements to prepare for the unexpected; health emergencies, financial fallbacks and other similar concerns.

The key feature of a good insurance for expats is mobility. Your insurance needs to follow you wherever you are. The second feature of a good expat insurance is that the benefits cover you and your family regardless if you are in the same country or not. And while it is seen as an added expense, the benefits certainly outweigh the costs because being far away from your country and the usual advantages that are given to its citizens may not be the same for every place.

Must-Have Personal Insurance

HEALTH INSURANCE

As an expat in Hong Kong, the number one type of personal protection we recommend is proper health insurance. Public healthcare in Hong Kong is one of the best in the world, however, it may not guarantee immediate and full care if you’re also waiting in line with many others who are also subscribing to public hospitals.

We wrote about the medical charges to expect in Hong Kong and compared the costs and benefits between private and public hospitals. This can give you a general idea of why you need private health insurance in case of emergencies.Remember that  the costs of even minor or routine medical treatment can quickly mount up. A benefit you must make sure is included is transport to a specialist unit and repatriation. You can lower your premium by opting to pay for any excess.

Critical Illness Insurance is also something for expats to consider if they are prone to serious ailments like cancer, heart attacks and other related diseases. Benefits of this policy will pay for therapy, drugs and other maintaining treatments. Some insurance policies may even cover death which means your families are left with a lump sum to pay for medical bills left behind.

We can help you find the right expat health insurance.

INCOME PROTECTION

This type of insurance can either be offered as a benefit along with your employment or you may choose to get one for yourself. This insurance ensures you have a monthly source of income in case you get into an accident or become gravely ill that you aren’t able to work for a period of time. We’ve also created an infographic showing How Income Protection Insurance Works. More importantly, this insurance takes care of your family when you temporarily cannot do so. We strongly recommend this to expats with children. Get in touch with us if you’re interested to see what options are available in Hong Kong.

LIFE

There are a number of good, affordable international life insurance policies for expats. This is usually a combination of two or more benefits such as critical illness plus total and permanent disability. It’s best to buy life insurance while you’re young because premiums are a lot cheaper. You can pay as little as US$33 a month and be covered for 20 years. We can also help find an insurance that suits your lifestyle and budget.

Remember that you need an insurance policy that is able to change as your circumstances change. Cost of premiums is also a crucial factor to consider so take your time when shopping for a provider. Evaluate your needs and determine your plans on a yearly perspective to see any drastic changes.

7Oct

Setting Up Your Utilities in Hong Kong

When you’ve settled in nicely in your new apartment in Hong Kong, the next step is to set up your utilities! In Hong Kong, it’s the tenant who takes it upon himself to sign up for water, electricity, and gas. We’re here to make it easy for you by listing down some supplier names so you can get started on your new life in the Pearl of the Orient.

ELECTRICITY

Hong Kong Electric started way back in 1890 and is now one of the most trusted utility companies in the world. Their service is reliable and affordable as well. They also have a reputation of being environmentally responsible which is a plus for some people. You can apply for Hong Kong Electric by downloading their form and emailing it to customerservices@hkelectric.com or dropping it at their customer service center along with your Hong Kong ID or passport and a deposit equivalent to around 60 days of consumption. Bills are due monthly and you can register for e-bills payment for a more convenient and environment-friendly payment. For more information, you may call them at 2887 3411 from 9AM-6PM, Mondays-Sundays. Once you’re a customer, you can download their Low Carbon App which provides information on energy safety and efficiency while helping with electric consumption estimation and tips on how to save energy. The app is available on the App Store and Google Play.

WATER

Water Supplies Department provides clean and safe water to around 7 million people in Hong Kong. To sign up, you may download theirform WW01 along with a copy of your Hong Kong ID. Applications take about a week to process and bills are sent every four months. They also have a free downloadable app on the App Store and Google Play that provides information about your bill and notifies you in case of suspension. You can also click the Payment icon to access a QR code in order to pay your bills with cash at any 7-Eleven, Circle K, or VanGO convenience stores. For more information, call them at 2824 5000 and press 3 for English.

Make sure to also get home insurance in case of accidental fire from bad wiring and plumbing. We help expats in Hong Kong find cheap insurance for their apartments.