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
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.
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.
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.
Exercise during pregnancy is different for every expectant mother. The most important tip to remember is to get clearance from your doctor before engaging with any type of fitness plan.
Women who regularly exercise and have been physically active prior to conceiving will more or less have zero issues with working in a fitness routine in their day. Walking is considered a safe and simple way to get one’s heart rate up.
Although you are eating for more than one person, doctors advise that it is important to keep track of your pre-pregnancy weight to determine your required calorie intake to maintain your body’s and baby’s need for proper nutrition.
If your body mass index (BMI) is in a healthy range (between 18.5 and 24.9), you’ll need to eat about 340 more calories a day in the second trimester than before you were pregnant and about 450 more calories a day in the third trimester
Stay comfortable by choosing looser fitting clothes that breath and regulates body temperature. Pregnant women tend to have higher body temperature and may overheat during a workout. In addition, make sure your maternity bra is supportive enough, and choose athletic shoes that fit properly. With your feet a little swollen than normal, choose footwear that is 1 to 2 sizes bigger.
EXERCISE AND STRETCHING HELPS WITH BACK & HIP PAIN
Common problems during pregnancy are increased lower back pain, pelvic instability, urinary issues, or reduced functional strength of the abdominal wall. Exercising during pregnancy helps reduce muscle tension. Prenatal pilates and yoga are popular fitness routines women can safely do to help with the usual discomforts of the condition.
STAYING SAFE WITH PROPER MATERNITY INSURANCE
Maternity insurance covers costs for pre-natal and post-natal treatments. It also covers cost for natural or caesarean delivery where the latter can get very expensive without private insurance. Maternity insurance with extension also helps with costs incurred for fertility treatments and congenital birth defects.
Village Insurance provides help for expats in Hong Kong in finding the best maternity insurance for all of your needs. Get in touch with our agents for more information.
For expat families, new challenges such as moving and adjusting to another country are already on top of old ones, one of which is keeping up with your kids’ vaccinations. If you’re a family with more than two kids, it can be quite the struggle to stay on top of who has had which vaccination and when they are due the next one. Having the right healthcare practitioner to seek professional advice and support from can make all the difference.
Unlike babies less than a year old, children aged around 15 months and older need to be comforted when faced with the prospect of a visit to the doctor’s. While experts say that talking to your child beforehand isn’t likely to help, it is encouraged rather to psyche them up with the promise of a reward after the injections, such as a tasty snack, a new small toy, or a visit to their favorite play place.
It is also encouraged to explain to your child when they’re above two years old the importance of vaccinations and how it makes them healthy and strong. Liken the process as the reason how their favorite superheroes got their super strength.
One way to mentally prepare your child for their injections is to stay calm because children sometimes feed off of their parents’ moods. When they see that it’s not a big deal to you, it may help them relax. You can also distract them by talking about your plans after the visit instead of focusing on the visit itself. And never ever use a visit to the doctor’s as a form of punishment for bad behavior. It will just make it that much harder to do in the future.
Family vacations are great fun but vaccinations are once again a needed precaution or requirement before travel to another country. Research on the recommended vaccinations for your child and for a particular destination, and getting the injections one to two weeks before travel are two very important things to consider.
As for diseases one can’t vaccinate against, such as malaria and dengue, preventative measures such as anti-malaria tablets, insect repellent, and wearing protective clothing should be prepared for as well.
Mandatory vaccinations are a duty
One may be aware of the ongoing argument of whether or not to vaccinate a child and it is very important to be on the side of medical professionals when it comes to mandatory vaccinations. Doctors all over can’t stress enough the importance of vaccinating and the claims that they cause autism are unsubstantiated. If one isn’t fully aware of how important vaccinations are, refusing to do so is likely to have consequences of epidemic proportions. One example is last year’s measles outbreak that started in Disneyland in California and spread to Washington and Colorado, and has since been proven to be the effect of low vaccination rates.
There is also currently a worldwide whooping cough (pertussis) epidemic, the worst in the last 70 years. Small babies who have not received their vaccinations are most vulnerable to the disease. However, ensuring that their pertussis vaccinations are up to date can greatly boost their chances of protection.
With the help of the right healthcare plan, preparing a child’s vaccinations doesn’t have to be a daunting task for any parent. Village Insurance Direct helps expats in Hong Kong find comprehensive health insurance that cover the whole family. Ask us about it today.
We never know when the worse can happen. One day we could be living normal loves when suddenly we’re told that we have a critical illness that can possibly take us away from the people we love.
Critical illness insurance is designed to protect you and your family from the impact of illnesses such as cancer, heart attack and stroke, and provide financial security in the face of a crisis. It gives you financial independence when you need it most. You need insurance not only because you are going to die but because you are going to live.
In the Middle East, the average age is 48 for critical illness claimants. One can even get a heart attack as early as 29.
These testimonial from Gary, an expat and insurance claimant is a story of strength and resilience we can all learn from:
PRIVATE MEDICAL INSURANCE VS. CRITICAL ILLNESS COVER
It is not unusual for people to be confused between critical illness cover and private medical insurance (PMI). While PMI might cover some or all of your medical bills, there tends to be an annual limit and you might also be required to co-pay a percentage of the bills. But it’s not just about the medical bills.
You may have to reduce your working hours, or stop working, which would result in a loss of income. In a report by Macmillian4 , almost one in three (30%) people living with critical illness experienced a loss of income as a result of their diagnosis. A third of critical illness survivors (33%) stopped working either permanently or temporarily, depending on recovery times.
Hidden healthcare costs
A significant proportion (41%) of people living with critical illness incur costs for other healthcare needs. These range from prescription medicines not included in personal medical insurance, clinical psychological services, physiotherapy, speech and language therapy, occupational therapy and dietetics.
Over a third (37%) of people incur costs for replacement clothing due to rapid weight loss or gain, specialised equipment, and home modifications, such as wheel chair access.
Some costs are difficult to quantify, such as regular trips to medical appointments, travel for specialised treatment, wigs or hairpieces due to hair loss, and increase in household bills such as utilities, groceries and telephone
Did you know that your beneficiaries may be charged a large amount Inheritance Tax (IHT) bill in case of death. The cost of IHT is almost as equally large as the amount being left. In 2012 to 2013, over £4 billion in inheritance tax was paid to the UK government including sums paid by expats from Hong Kong.
WHO WILL PAY FOR INHERITANCE TAX?
IHT liability is based on one’s permanent residence or domicile. There are two types of domicile: domicile of origin and domicile of choice.
A domicile of choice can be established if you can demonstrate that you have severed all connections with your “homeland” and established permanent ties elsewhere.
A domicile of origin may be challenge to change. Note that if you transfer one more time your domicile of origin will revive until you establish a new one. If you are domiciled in the United Kingdom, IHT applies to your global assets.If you are domiciled elsewhere, IHT is charged on your assets held in the UK.
IHT is charged through three main channels:
- On your estate in the event of your death
- On any gifts you present to individuals in the last 7 years of your lifetime
- On any gifts to the most common type of Trust that you make through your lifetime
Everyone is entitled to make a certain proportion of gifts sans taxation and this is called the “nil-rate band”. Current cost is £325,000 which will remain so unti 2021. All excess above this band is charged at 40%.
Generally, property owners automatically follows the IHT net even before taking into account the total value of their investments. But note that it’s possible to reduce your exposure to this punitive tax.
Inheritance Tax is often treated as a “voluntary” tax because its impact may be mitigated. If you have large amounts of assets but don’t want to leave control over these or make gifts, you can still lower the cost of IHT by carefully planning your will.
LEAVING A WILL
Ensuring one has a will in place is a way to protect your loved ones from incurring impossibly high cost of IHT in the case where substantial assets are involved. For instance, a married couple and civil partners can do what the industry calls a “double up” on their nil rates and this implies that up to £650,000 can automatically pass free of IHT. One common myth about leaving your assets to your spouse or civil partner is that they get half if you die. This is not a fact.
Also, it is crucial to remember that minors cannot inherit money or property which means you need to assign someone to make the arrangements until they turn 18.The courts may choose this person for you if you fail to do so in your will.
Expats often have assets in parts of the world and all these have to go through the courts of the different jurisdictions. Delays can happen if one does not make the necessary arrangements in their will. There are also insurance that covers the cost of inheritance tax. Ask us about it. We help expats in Hong Kong.
Hong Kong’s medical facilities and inpatient services is one of the best in the world. It is also one of the reasons why it is considered an expat hub in Asia. As a foreigner in a top global city, should you consider international health insurance?
The simple answer is YES.
SPEND LESS ON PRIVATE FOR HOSPITAL CARE
International private health insurance covers a bulk of the expense should one choose to go to a private hospital. Without a Hong Kong ID card, public health care could be a challenge especially for fatal injuries or chronic illness. Although public hospitals and their doctors are world-class in Hong Kong, immediate and consistent attention to your needs as a patient is better guaranteed with private health insurance.
COMPLIMENT YOUR MOBILITY
Expats often find themselves traveling to other countries on top of the new country they have chosen to reside. International health insurance follows you wherever you are and it till give you peace of mind in situations where local hospital may be unable to provide for your needs. The advantage of having this type of insurance is also having glocal service from your provider’s customer support so you know exactly what your policy can cover.
This is one of the best features of international health insurance. For expats who live in high-risk areas or live active lifestyles that may hold more risks than usual, getting covered for emergency evacuation could be what separates you from life or death. Repatriation cover allows expats to be flown back to their home country if necessary.
SUPPLEMENT FOR YOUR COMPANY-PROVIDED INSURANCE
Check if the company health insurance covers for family members or for chronic diseases. If you have special medical needs and your company insurance does not cater to its treatment, an international health insurance cover should be able to take care of what’s lacking.
OTHER HEALTH COVER
This health insurance policy is generally comprehensive and can cover maternity and cancer treatment. It all depends on your needs as well as your family’s. Village Insurance Direct helps expat find the affordable and complete international health insurance from established providers in Hong Kong.
Hong Kong hospitals are one of the best in Asia and the world. Public health hospitals have a fantastic reputation for being clean and safe but not as comfortable at times with long queues.
Expats with valid HK ID cards can easily seek medical attention at a minimum cost from public heath care facilities. The bed fee and ultrasound which cost $100 per day and $300 per copy, respectively are the more common expenses you’ll pay for when in a public hospital. However, we cannot always anticipate other risks during pregnancy and this is why choosing a private hospital remains the best option to keep the mother and the baby safe.
The Consumer Council has shared that there are plenty of options for private maternity packages that compete on the size of the private suite and the range and grade of the facilities provided. These sets of medical procedures are generally priced equally for residents and non-residents but that may not always be the case.
One has to consider the doctor’s fee, obstetrician and anesthetist. These are generally separate from the maternity package. It’s crucial that you ask for an itemized rundown of the specific services that are included in your health insurance policy once you choose to be treated in a private hospital.
Private health care is understandably more expensive but given the right health insurance cover; expats can fully take advantage of the best facilities and doctors around. Some health insurance policies can cover the entire cost of maternity care.
Cost of Maternity Procedures in Hong Kong
The costs mentioned do not take account the months that lead up to the birth including gynecological visits, ultrasounds and other tests.
The complete cost of delivering at one of Hong Kong’s private hospitals could sum up to more or less o$100K but this amount provides luxuries that won’t be available in public facilities. Most private hospitals also require that you put down a deposit, ranging from $10,000 to $20,000.
One highly recommended private hospital with a relatively cheaper maternity package ranges between $17,000 for residents and $35,000 for non-residents. This fee is for natural delivery in a Standard Room with 3-6 beds.
Other special fees include paying for a pediatrician to be in attendance during delivery (not optional) and a 30% surcharge for each additional baby in cases of twins or more.
Emergency C-Section with 5 nights can cost up to $51,000 for a standard room with 4 beds and around $97,000 for a private room. More complications can cost up to $150,000
Choosing a Health Insurance Cover
Pregnancy is considered a pre-existing condition and most insurance providers will not accept your application if you are already pregnant. Unless you are joining a group plan, some may waive or shorten the waiting period (ask when “waiting period” begins as it may vary per provider). Most insurers will not cover women after the age of 44 so that also plays into your application.
An annual fee of $8,200 for health insurance with maternity cover can have a $20,000 limit on maternity cover. There are also policies with $10,200 annual fee with $10,000 maternity cover. Some insurance providers also provide newborn cover while some keep that policy separate.
This is where having a reliable insurance broker is important. Details on uncommon risks like congenital diseases and newborn care need to adhere to what you specifically need and one might not immediately foresee these things without professional assistance.