Corporate Life Coverage Plans: Is it Important to Take Another Insurance Policy?

Most corporations and employers nowadays offer group insurance plans to ensure that their employees get optimal support while dealing with their health and medical issues. As soon as you join a multinational company or a world service organization, your enrollment in to group life insurance is almost confirmed and you can avail the benefits as per your own comfort. Many a time, your organization may also offer life coverage to you for ensuring that you live a stress-free life. If you think that you must take care of your family or loved ones, even if an accident takes your life away or makes you completely helpless, then take a life protection policy. Read below to know about why you must take a personal life assurance plan:

1. Avoid Loss of Coverage in Case of Job Switches

If you switch your job or its situation changes, then it is confirmed that you’ll lose your life coverage. It doesn’t really matters, whether the change in the job situation is because of change of status from temporary to permanent, employe being laid off, or any other unfortunate reason. Therefore, it is important to have a personal life over that stays with you no matter where you work or reside. 

2. Loss of Coverage After Retirement or Mentioned Age

As per company policy, your life insurance cover may discontinue after attaining a particular age or getting retired from that firm. Many a time, people may lose their insurance coverage when they pass a certain age or retire. Since old age is the prime time when you need your insurance the most, you may not actually have it. 

3. Employer Has a Full Control 

Since your employer is the prime controller of the policy, there are high chances that they may change, reduce, or even terminate the coverage. It is important to consider that they may not take your consent, before making any amendments in the insurance policy, you must have a backup plan to stay protected.

4. You Have Limited Options and Coverage 

Referring to the point above, employer has full control over your policy, hence, the options you have are quite limited. There is no feasibility of getting the coverage tailored as per your specific needs and requirements, thus, leaves you exposed to great risks.

Explore the web and select a personal or term life insurance, based your budget, age, and current financial status to ensure a hassle-free and risk-free tomorrow!

A Helpful Guide in Choosing the Right International Healthcare Plans

If you’re moving abroad or taking a job role that is sending you to foreign nations for a certain period of time, then it is highly important to check your healthcare protection benefits before you actually make a move. Undoubtedly, leaving your home country and settling down in another is one of the most important and exciting decisions that you will ever make as it could lead to utmost excitement or disappointment. If you wish to stay healthy while living and working abroad, then it is important to analyse all the health risks and diseases that you want to avoid. Considering the international health insurance plans and enrolling for the ones is the best option to avoid any such risk. In this article, read some crucial things that you must consider while enrolling for international health insurance:

1. Start Your Search Early 

Usually, most of the companies offering health insurance plans expect applications to reach them at least 30 to 45 days prior to individual’s departure. Plan accordingly and provide a week or two to the company professionals for processing your application. There are certain factors that the expat insurance companies may consider before issuing a policy. If you are going for temporary employment, then contacting your employer would be the best option to avail enhanced benefits.

2. If Missed, Apply After Reaching the Destination

If you haven’t applied for your insurance coverage at the time of departure, then it is important to consider that you can only apply if you have already moved abroad. Availing emergency travel insurance plan and then converting the same into and global health plan is also one of the most common insurance procedures that is followed by most of the candidates working abroad.

3. Factors to Check While Availing Global Medical Coverage

Expat insurance offers optimal coverage against mental health care, inpatient, day care, cancer care, accommodation costs, and other expenses that you or your family will borne, if affected. In some of the cases, you can also avail inpatient maternity care by having constant coverage, during the waiting period. The most important thing for expatriates is to avail a flexible and comprehensive cover that can safeguard them against potential health risks.

Exploring the web for various health care and management options to the destination you are traveling to is the best solution. Take a few minutes, consider the health risks of a particular country, and then plan your coverage to make most out of your healthcare coverage plan.