Sponsored: What Expats Should Know About Maternity Insurance

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Sponsored: What Expats Should Know About Maternity Insurance

For many, moving to a new country means making big adjustments due to the different culture and systems. If, for example, you were moving from a Scandinavian country that has universal healthcare to an Asian country that does not provide healthcare to new expats, you may find yourself unfamiliar with the private insurance plans that may be needed to address the costs that come with obtaining the highest quality medical care.

One particular type of health insurance that has a number of features that can catch people off guard is maternity insurance. For those expats who may find themselves making an addition to their family in the future, Pacific Prime has prepared the following tips for parents-to-be on what you should look out for when purchasing maternity insurance.

Maternity insurance may not cover you in your home country

Expats in particular can be caught off guard by geographic restrictions on insurance policies. While many insurance plans will only provide coverage in your country of residence, there are plans with global coverage available that will allow you to travel abroad (most likely to your home country) for labour and delivery.

Waiting periods

Many people start looking for maternity insurance far too late – even after they’re already pregnant. This is a big problem because all maternity insurance plans make the insured observe a waiting period of 10-12 months or more before the plan will pay out on any claims. Try to obtain coverage at least a year prior to conception.

Not all insurance plans include maternity

Many expats depend on their employer for their family’s health insurance. Make sure you check the details of such a plan, though, as some companies choose not to include maternity insurance coverage into their plan in order to lower their premiums.

Fertility treatments

If you find that you need assistance with conceiving, whether through In-Vitro Fertilisation or another, you maternity insurance may not include coverage for fertility treatments, but it could. Be sure to check policy documentation to see if fertility benefits are included.

Don’t forget family insurance

Once your baby is born, the fun’s just beginning! But before you go through sleepless night full of bottle feedings and diaper changing, be sure that you secure family health insurance so that every member of your family has ongoing health insurance coverage. After all, maternity iInsurance benefits will cover complications for up to 30-90 days following birth, but by and large, once your baby is born he or she will need a new health insurance plan.

Pacific Prime has been a broker of international health insurance and other related products for over 17 years, delivering service to over 130,000 members globally in over 25 languages. Contact them today for answers to your insurance questions, as well as free plan comparisons and price quotes. www.PacificPrime.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.