What is Expatriate Insurance?
Expatriate insurance provides coverage for Australian citizens who have relocated overseas to work for a company that has a subsidiary office outside Australia.
At any given time, an estimated 1,000,000 Australians are working or living overseas. It is recommended that Australian companies that have Australian employees working for them abroad hold expatriate insurance to ensure their employees are adequately protected.
What does Expatriate Insurance cover?
Expatriate insurance covers certain medical expenses for insured employees, as well as their eligible spouses, partners and/or dependent children, while they are temporarily residing outside of Australia for work purposes.
Similar to inpatriate insurance, expatriate insurance’s primary function is to protect an individual against costs arising from health issues that occur whilst they are working overseas, away from home.
Coverage generally includes:
- Medical and additional expenses including dental and optical
- Maternity cover
- Evacuation/repatriation cover
- Costs incurred for replacement personnel
- Repatriation of mortal remains and funeral costs.
As with most medical coverage, policies offer 24/7 protection for the policyholder.
Depending on the country where the policyholder is based, they may be eligible to receive reciprocal health care. Australia has reciprocal health care agreements with the following countries:
- Belgium
- Finland
- Italy
- Malta
- Netherlands
- New Zealand
- Norway
- Slovenia
- Sweden
- United Kingdom and the Republic of Ireland.
What Expatriate Insurance doesn’t cover
Expatriate insurance excludes cover for the same events as inpatriate insurance, such as death, injury, sickness or disability arising from:
- The insured individual being in an aircraft, unless they are a passenger
- War/civil war
- Suicide, attempted suicide, or deliberately self-inflicted injuries.
Expatriate insurance also does not cover elective surgeries or cosmetic procedures, as well as expatriates who were not deemed medically and dentally fit to move countries and work. Often the policy excludes cover for insured persons over the age of 75 years.
Expatriate Insurance claims example
An employee from Australia, working for an international company, relocated to Europe for work. They sustained a broken leg and needed urgent medical care. Since Australia’s Medicare doesn’t cover them in Europe, the company’s expatriate policy responded and paid out reimbursement costs for their hospital treatment, ambulance and surgery.
Information required to obtain quotation
To obtain quotations for expatriate Insurance, a proposal form covering the following information will likely be required:
- The destination country
- Length of stay
- Specific coverage needed (such as medical, travel, personal liability)
- Age and medical history of the individual or family members.
Some insurance providers may also require documentation such as passports, visas, and proof of residency.
For further information on expatriate insurance please contact a Bellrock Advisor.
