It can be frustrating if you become ill or are involved in an accident and wonder what quality of healthcare you will get from your expat country. Most expats consider getting income protection insurance because it is a necessity for people living abroad.

Why Should Expats Consider an Income Protection Insurance

Income protection insurance provides you with regular payments while you are unable to work. This takes the financial pressure off you and your family while you recover. It’s extremely easy to get a quote online and the cover can be tailored to suit you. The other good news is that it is extremely affordable. coming in at around forty dollars a month. Income Protection is affordable and, in most cases, entitles you to 75% of your income while you are not able to work. Levels of cover can obviously vary depending on the type of cover you choose. 

If you are an expat, you may need income protection insurance due to injury or sickness. Like everybody else, the threat of missing work and missing out on an income due to injury or sickness is ever-present. As a person working away from home, with the added stress of thinking about how to provide for your family, you are at an increased risk of mental illness or burnout, which could mean a stint away from work. Thus, considering such insurance is a good move.

In most cases, you will be working for yourself and will not be eligible for sick leave or any sort of paid leave, and your livelihood can depend entirely on whether you are able to work each day. Income Protection Insurance can turn the circumstances into benefits. If you are renting shop space, making a claim can be extremely important to not falling behind on rent, or even being able to pay staff.

Also, with expat insurance, you can keep control of your health costs. That puts you at high risk of shouldering the medical bills out of your own pocket, that is, when you don’t have international health insurance cover in place.

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