FOREIGN INSURANCE

FOREIGN INSURANCE

OVERSEAS INSURANCE ABROAD FOREIGN INSURANCE INTERNATIONAL INSURER

WHAT IS A FOREIGN INSURANCE ABROAD?

A foreign insurance is by definition an overseas cover arrangement used by an international insurance company to provide a guarantee of financial compensation in case of loss, damage, or death while being based outside the policyholder country.

A foreign insurance follows the objectives to cover the expenses and costs as a consequence of an unforeseen event to a person either in his or her country or outside his and that can consist of an accident, illness or theft.

An overseas insurance can sometimes be a cover for additional geographical coverage to that covering an insured initially in his country of residence and that can be contracted for limited time.

WHAT TYPE OF FOREIGN INSURANCES ARE EXISTING?

They are two different types of insurance actually:

  • The foreign insurance operating abroad outside the country of the policyholder.

  • The international insurance with presence in the country of the insured person.

WHATS THE DIFFERENCE BETWEEN FOREIGN INSURANCE ABROAD AND TRAVEL INSURANCE?

Unlike a foreign insurance abroad which can consist of long-term coverage, travel insurance is dedicated to limited number of stays abroad and generally covers short stays not exceeding a total of 90 days per year.

Short term insurances abroad or travel insurances can be financially a problem, because in the event that an illness or accident occurs on the 91st day abroad, the insured will have to pay himself the medical treatment costs at his expense as he is no longer insured.

ADVANTAGES OF A FOREIGN INSURANCE

A foreign insurance or an insurer abroad can be useful, advantageous or necessary under certain personal circumstances:

  • - Offer competitive premiums versus local national insurance companies.

  • - Being an expatriate abroad and needing insurance abroad such as health insurance or car insurance that insurance in her or his country of origin does not cover.

  • - Spend family holidays abroad and make sure you have health coverage, especially when staying outside Europe.

  • - Finally, when a student is staying abroad as a foreign student he or she needs a health insurance on site.

POTENTIAL DISADVANTAGES OF FOREIGN INSURERS

Certain foreign insurance policies are not subject to the local rules of a policyholder who contracted an international cover and cannot always benefit from the damage insurance guarantee fund.

Generally, the prudential financial standards that the regulator applies to a foreign insurance company are those of the country of its head office, and become a problem in case a life insurance in not paid the beneficiaries in case the insurer is bankrupt.

OVERSEAS STUDENT LOAN    LOAN BROKER    OVERSEAS PRIVATE LOAN   WITH GUARANTEE    EDUCATION LOAN    OVERSEAS MORTGAGE    BUSINESS LOAN   PERSONAL LOAN    TAX ON LOANS    WITHOUT COLLATERAL    MICROFINANCE    P2P LOAN    CAR LOAN    WITHOUT CREDIT CHECK    CREDIT CARD    DEBT CONSOLIDATION    WITHOUT JOB    WITH BAD CREDIT    WITHOUT UPFRONT FEE    FOR DISABLED    ISLAMIC LOAN    LIST OF BROKER    LEASING FROM ABROAD    LOAN FROM OVERSEAS BANK   CHINA    THAILAND   EUROPE   FOREIGN STUDENT    FOR MIGRANT    FOR WOMEN   CAR FOR FOREIGNER   ELECTRIC BIKE LOAN    STUDENT LOAN REPAYMENT FROM ABROAD   LOAN FROM INDIAN OVERSEAS BANK   FOR MASTER    LOW INCOME LOAN   FOR FOREIGN STUDIES   OVERSEAS CROWDFUNDING   FOR FARMER    OVERSEAS PAYDAY LOAN   WITH NEGATIVE RATE  OVERSEAS BANK ACCOUNT   OFFSHORE BANK ACCOUNT  ANONYMOUS BANK ACCOUNT  OFFSHORE BANK ACCOUNT  ANONYMOUS BANK ACCOUNT   GERMANY LOAN   SWISS BANK ACCOUNT    LUXEMBOURG ACCOUNT   PANAMA ACCOUNT  DUBAI BANK ACCOUNT    LOAN FOR US CITIZEN  LOAN FOR BRITISH   SWITZERLAND LOAN   MORTGAGE FOR ALIEN    LOAN FOR HOUSEWIFE  FOR FOREIGNER    UK LOAN    KREDIT OHNE SCHUFA    USA LOAN    AUSTRALIA LOAN   FRANCE LOAN    BELGIUM LOAN    NO PROOF OF INCOME    WITHOUT INTEREST   START-UP LOAN   MAURITIUS    MOROCCO   NEW ZEALAND   LUXEMBOURG LOAN   MONACO LOAN   SAUDI ARABIA  QATAR    LOAN FROM GOVERNMENT    ANDORRA LOAN    FOREIGN BANK    FOREIGN INSURANCE   FOREIGN CAR INSURANCE   FOREIGN HEALTH CARE   FOR EXPATRIATE    FOR CROSS-BORDER   FOR NRI   BLACKLISTED LOAN    MOTORBIKE LEASING    LICHTENSTEIN   CANADA LOAN  WITHOUT SCHUFA   ISRAEL LOAN   ITALY MORTGAGE   DUBAI LOAN   LOAN FOR REFUGEE   LEASING FOR FOREIGNER  SPAIN  PORTUGAL   LEASING GERMANY   CORONAVIRUS LOAN