Almost two thirds of expats live abroad without insurance

Almost two thirds of expats live abroad without insurance
Published:  8 May at 6 PM
Many expats are risking life overseas without any income or life protection insurance in place, revealed a recent customer survey. reported that while it is generally known that taking out international private medical cover is a wise investment for expats, it appears that many people who move overseas do not view purchasing protection products as so important.

When insurance provider William Russell asked health insurance clients whether they had taken out any protection or life insurance, with any insurer, a majority of 61.4 per cent revealed that they didn’t, while a further 5.7 per cent claimed they were unsure. So, just 32.9 per cent of respondents had income protection or life insurance in place.

When income protection and life insurance clients were quizzed on the arrangements of their health insurance policies, just under 70 per cent answered that they had taken out health insurance, while 7.4 per cent said they were not sure.

The survey’s results indicate that expats are much more likely to take out health insurance than put financial provisions in place in case they die unexpectedly, or are faced with a long period of time in which they are unable to work because of an illness or injury.