Getting your back covered by an expat insurance is something that many travelers miss when planning their trip. Unfortunately, most people throw it around without really knowing what it actually is and why it matters.
Insurance for expats is a policy that covers foreigners and immigrants from countless unfortunate events, but the truth is, there’s much more behind it.
As an avid traveler with years of experience, I have acquired many of these policies throughout my adventures, so now, I bring you a complete guide on expat insurance.
Understanding What Insurance For Expats Is
In short, this is a policy that covers all the costs of adverse events that we cannot control. In this case, it’s aimed at travelers who just want to be backed up on health issues during their trip or immigrants who plan to stay in Colombia for a long time.
Each expat insurance has its own requirements and conditions in which it covers certain expenses, all you have to do is find an appropriate expat insurance that fits you and take care of the policy payment.
Expat Insurance in Colombia
As in the US, Colombia has a public and private health system, depending on the quality of care desired and your budget. The first one is called “Entidades Promotoras de Salud” or EPS, and you can access it through a foreign identity card or cédula, it’s also a requirement when working in the country.
There is a wide variety of EPS all over Colombia, if we’re talking about a job, usually, your employer will establish which one you should take. However, you can also enroll in whatever EPS you want on your own.
But, If you’re looking for better coverage conditions, fast care, and even consultants and counselors who speak your language, then a Poliza Prepagada is your best option.
Its popularity and high demand are due to the high quality service provided, not only talking about health care, but one of these private policies offers many other benefits and insurance of physical and technological goods.
Requirements for Getting a Expat Insurance
Again, each company has established requirements that allow them to evaluate each person according to their health status, financial status, and more. When starting the process of acquiring an expat insurance, they will ask a series of questions according to the resource you want to insure.
For example, health insurance requires mostly healthy patients, who have gone through treatments to solve their health problems, along with documents that support the veracity of the information.
Age, pre-existing conditions, and the chosen plan also influence the approval or denial of the application. For people aged 68 and older, getting one of these can be a bit more complicated. In most cases, once your request has been accepted, you only need your passport as a valid ID.
Expat Insurance Benefits
As always, getting an expat insurance through a private policy brings many more benefits than a public one. Personally, I always prefer to acquire an expat insurance at Angela Berrio Insurance Broker, a policy that gives me cover in Medellin and the big cities of Colombia.
Although the public side in Colombia has been improving over the years, waiting times and lines are still prolonged, something we’re not used to in the US.
In addition to being sure that in some unfortunate cases we will have the support of a national entity, getting an expat insurance gives us benefits in:
- Specialized services in a shorter time
- High coverage in material and economic losses
- Assistance in cases of serious illness
- Covering high medical expenses.
Exclusions in Expat Insurance
Usually, a tailor-made policy gives you only coverage under certain conditions, so, before signing or acquiring the insurance, you must read carefully the certificate and rules.
Many providers don’t add pre-existing conditions as an exclusion, which results in certain conditions being precluded from receiving support when it comes to filing a claim.
Make sure to contact a company that can give you the information in English and Spanish, with this you prevent this kind of thing from happening and you get unpleasant surprises in the underwriting process.
How Much Does Expat Insurance Cost?
There are a wide variety of expat insurance prices, you choose the amount and payment method you want to cover. This value will depend on some conditions such as:
- Your age
- General Health
- Term of coverage
Costs can range from $50 per month to thousands of dollars per month. Only you will decide how much you want to invest into your security, your family, and the material goods that you have worked so hard to obtain.
On the other hand, when it comes to expat health insurance, payment methods are options that can give you even more benefits. The copayment modality is one of the most popular, which although it means that you pay a set amount of money monthly whether you use the service or not, means that you have other advantages such as unlimited doctor visits.
What Does Expat Health Insurance Cover?
Now that you know everything about insurance for expats, it’s time to decide what resource you will cover during your visit to Colombia, here are some.
It covers full or partial hospitalization costs, expensive surgical procedures, specialized care, medications, additional resources, and much more. They usually offer medical care by levels, this fits your requirements depending on the complexity of your health status.
Have you moved to Colombia and want to protect your property from unfortunate events such as theft or natural disasters? Then an expat insurance for homeowners is what you have to get.
Worrying about the future is no longer a luxury, it’s a necessity. Whether you’re spending a couple of weeks in Colombia or planning to stay longer, getting an expat insurance can get you out of a jam in case something goes wrong.
Ready to get started with an expat insurance plan of your own? Contact Angela Berrio Seguros today to get a quote for your new healthcare plan.