Living abroad and having the opportunity to see the world and working as you do so, is a real riveting and one-of-a-kind experience. Like many other things in life, you have to approach it with caution. Even if everything sounds amazing and peachy, it is not always like that, and it is usually due to insurance. The reason why we just can't seem to have it all is because many things depend on the country that you are traveling from the country that you live in. Having that in mind, here are the basic guidelines of what are the main differences between travel and health insurance if you are a digital nomad striving to succeed.
Difference between travel and health insurance
Many people are not aware of the slight, but crucial differences between travel and health insurance. Unfortunately, there are many misunderstandings between the two because everything depends on what circumstances do they exactly cover and whether they deliver the same or different things. It might sound strange, but people get caught up into this issue and end up not getting the right support and help. Knowing which is which is more than essential, and here is what you should know.
International health insurance
When you travel abroad health insurance is something that you should have. Worldwide health insurance implies covering any health requirements you might need when you are abroad. With a proper health insurance, you can get access to any institution and get the necessary treatment in whichever country you are in. What is more, it covers both emergency health needs, minor health interferences, and scheduled health appointments.
Pros
First thing and foremost important one, is that health insurance covers all the cost and expenses for your health treatment if you already have while you are abroad. Next, if you need to go to a specific country for the treatment, you can easily rely on international health insurance to cover everything so you won't need to go back to your home country. A great advantage is that it can cover maternity or newborn baby cover, which is fantastic if you meet your soul mate abroad and get pregnant there. A quality health insurance policy doesn't restrict you to stay in one single country. On the contrary, if you wish to move to a different country and live somewhere else you will still be covered.
Cons
As mentioned already, some policies can vary from country to country, meaning your home country. And above all, you should always read everything in detail and focus on finding the right policy that suits all your needs, since not many insurances cover all the things that you might need. Another thing is that international health insurance can be rather costly to upkeep. Last but not least, it is mainly covering your health troubles, so it won't do you much good if you lose the luggage or your passport.
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Travel insurance
We use travel insurance when we want to assure that everything will run smoothly, and to ensure you as an individual for unforeseen circumstances when we travel. We get and pay the travel insurance when we decide where are we about to go. Since many things depend on which country we are traveling to, you always need to double check what does it exactly cover. This is certain, travel insurance covers you for any medical emergencies when you are abroad, loss of luggage, or any other valuable documents, and the cost of repatriation to your home country to receive any medical help. Okay, so that is clear. However, is that all enough? Let's see the pros and cons.
Pros
Since you, as a digital nomad, are abroad for work and have a lot of equipment, travel insurance covers insurance for both your health and all of your belongings. However, the cost of a travel insurance varies from policy to policy, but the positive thing is that you can negotiate with the price and terms and conditions. Always double check whether your policies cover everything you might need. It is essentially useful when you want to shift from country to country because you will be covered for basic necessities wherever you are. What is more, you won't need to pay any extra amount for a certain item, since your travel insurance will cover it. Often, it is much more useful than a credit card.
Cons
Many policies are restricted to how many days or months are you staying abroad. Even though you pay your insurance annually, and you can use it at any time, generally you will be covered up to 3 months and then you might need to come back. As a digital nomad, you probably want to change your location more frequently, and due to the policies rules, you might need to change or pay the policy frequently as well. When it comes to medical requirements, the coverage stretches as far as covering emergencies. If you happen to have some pre-existing medical condition, or if you get sick while you are abroad and call upon your travel insurance, you will be sent home as you won't have an option to be medically treated abroad.
Which is better?
In the end, everything falls down on your travel plans. If you wish to travel for more than a few months at a time, then travel insurance is the best option for you. It would work the best for digital nomads if you are planning to travel in breaks, and later definitely returning home. But, having health insurance can be something for life, so having it both is a done deal.
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