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Insurance in Action #3: Expat Health Insurance

Source: Swiss-Sure Media
August 19th, 2016

– Left Unprotected…

When John Smith first started as an expat in Hong Kong, his company offered him complete in & out medical insurance covering his every possible need. As a result, he did not take out any medical insurance. Unfortunately, he was diagnosed with coronary heart disease one month before he left his current job for a new company.

While his insurance at his current company covers all expenses for the required treatment, due to the diagnosis being dated prior his move, he is not entitled to the new company’s medical insurance policy and has to take on the cost for his condition once the job at the new company starts. If he had taken out a high excess and relatively low premium medical insurance policy to supplement the company’s insurance this difficult situation could have been avoided.

Moral of Story: Never leave yourself unprotected, always prepare a back-up plan.