Now imagine this: You wake up in a small cozy apartment in Tokyo, drinking your morning coffee. A cocktail on your right, and a month later, you’re walking down the beaches of Bali, laptop in hand answering emails. Then on to Berlin for a few months — new adventures, new experiences. Sounds like the dream, right?
For many remote workers, expats and digital nomads, this is life as usual. But with all this freedom and adventure, one question tends to get lost in the shuffle: What do you do if something goes wrong?
That’s where international life insurance can help.
Why Global Nomads Can’t Rely on Traditional Life Insurance
Most life insurance products are designed for those with an established, permanent home. They assume you’re in the same country, working a normal job and staying in one place for years. If you’re frequently on the move, traditional insurers may:
Decline coverage because you do not have a permanent home.
Restrict payments according to your location at the time of your death.
Move out of their coverage area and cancel your policy.
Well, for those who are always on the move, that simply won’t do. You need portable life insurance.
What’s Global Life Insurance?
Global life insurance is typically for individuals living, working or traveling internationally. Unlike standard policies, these are designed with flexibility in mind, permitting you to:
Somewhere, anywhere, everywhere, be covered.
Pay premiums in different currencies.
(allows you to choose beneficiaries not having to be based in their domiciled country.)
It’s life insurance for today’s lifestyles — those that don’t fit into the old mold.
Who Should Get the International Life Insurance?
Not everyone requires worldwide coverage, but for some, it’s a major opportunity. If you are any of the following, it may be something to consider:
Digital Nomads
Traveling the world while working remotely? Your base is wherever you choose it to be. It doesn’t matter where in the world you go; a global policy means your loved ones are protected.
Expats
Are you working or living abroad for personal reasons? Most domestic insurance policies won’t cover you once you leave home. You are secure with an international policy.
Frequent Travelers
Do you have access to countries that are not available to you? You don’t want gaps in coverage simply because you aren’t in one place long enough.
Som PHd students, you can choose from many different disciplines.
Do you run a business that goes beyond borders? If you have a global spread of income, assets, and family, a flexible life insurance policy is a move worth making.
What to Consider When Buying a Global Life Insurance Policy
International policies are not created equally. So what to watch for:
Worldwide Coverage
And ensure your policy will cover you regardless of where you live or travel.
Some insurers don’t cover specific high-risk countries — read the fine print!
Flexible Premium Payments
Can you make a payment in several currencies?
Will the insurance company accept funding from overseas bank accounts or digital wallets?
Portability & Renewability
Can the policy be renewed without proof of residency?
Will you still have coverage if you move a lot?
Step 3: Claim Process for Beneficiaries
How easy is this process if you pass away abroad for your loved ones?
Can they get paid out in multiple currencies and countries?
Medical Underwriting
Does the policy a medical exam and blood tests?
If yes, can you do it in various countries, or can you do it only in that country?
TOP GLOBAL LIFE INSURANCE PROVIDERS
Fortunately, some insurance companies are waking up to what global citizens need. Here are some providers that are known for international coverage:
Cigna Global
Cigna, a prominent name in international health and life insurance, offers flexible plans covering expats and travelers around the world.
Allianz Care
Another major player, Allianz provides global coverage, flexible payment plans and policies aimed at long-term travelers and digital nomads.
William Russell
If you are seeking business-oriented international insurance, this company focuses on expats and professionals and provides policies that are easy to understand and cover global situations.
Now Health International
A newer but strong option, Now Health offers customizable life insurance policies for international lifestyles.
Cost of Global Life Insurance
Now, let’s talk money. How much does it cost?
Here are some items for which the premiums for international life insurance will vary:
Your age and health.
The coverage amount.
The countries you visit most often.
Whether a medical examination is necessary.
Expect to pay between $500 and $2,000 per year, depending on the coverage limits. True, it costs more than a standard life policy, but you’re also buying peace of mind across borders.
Myths about Global Life Insurance
Let’s myth-bust a little about international life coverage:
“It’s Only For the Super Wealthy”
Not true. Global policies can be pricier than domestic plans, but there are many affordable options, particularly for younger, healthier applicants.
“It’s Very Difficult to Make a Claim from Overseas”
Good global insurers have online claims and fast processing, and they won’t set up any unnecessary hoops for your loved ones to jump through.
“I Can Just Depend on Travel Insurance”
Travel insurance is for short-term emergencies, not for long-term financial protection for your family. It isn’t a replacement for life insurance.
How To Apply For Global Life Insurance
Thinking of getting covered? Here’s how to start:
Research Companies — Shop insurance companies and read customer reviews.
Verify Coverage Path – Make sure it suits your lifestyle and travel patterns.
Continue Medical Requirements – Some need physical, when others not.
Apply Online– Most international policies enable you to apply from wherever you are.
Review and Sign — Read the fine print and make sure the policy meets your needs.
Final Thoughts
Your life and your life insurance shouldn’t be tied to one place if your life isn’t. Whether you’re a digital nomad, an expat, a global entrepreneur — there are flexible life insurance policies that travel with you.
Sure, it may take additional work to locate the ideal vendor, but the convenience is well worth it. Because part of living a free-spirited, global life is ensuring that the people you love are safe — wherever in the world you are.
Okay, now are you ready to find a policy that suits your lifestyle? So begin exploring your options today and stay protected no matter where life takes you.
Eels on ice, like a experienced global life insurance? Let us know in the comments!