Personal Accident Insurance – Working Overseas
You’ve just been awarded a brand new position by your company; overseas. Do you Have Personal Accident Insurance? They will be transferring one to Moscow, Russia to run the Marketing Department of your Fortune 500 Corporation. It’s a very big step-up the corporate ladder along with a great opportunity. You might also need so many things to think about however; a lot of lose ends to take care of. Certainly, the very last thing you want to get worried with is the International Benefits package.
What is the International Benefits Package, does it provide Personal Accident Insurance?
You’re certain you’ll have International Medical health insurance, Workers Compensation Insurance and you’ve already signed up for the free Life Insurance that’s provided. So that’s enough, correct?
Well, unfortunately it’s not, it appears that they omitted Personal Accident Insurance Personal Accident Insurance.
Each time a company sends their employees overseas, they generally provide the above referenced coverages in the benefits package. This is simply not always enough though. Reason being, you’ll indeed have medical health insurance if you or perhaps a family member becomes ill. In case you are injured on the job then needless to say Workers Compensation Insurance will take care of you. Additionally, in case you are in a declared Battleground, then Workers comp Insurance will give you 24 hour coverage. But what if you are not inside a War Zone and God forbid, you lose a limb, or worse – your lifetime, and you are not engaged in work activities?
Where Does International Workers Compensation Insurance Stop Covering?
Example, a 40 yr old Engineer is in Saudi Arabia working on a project for his company. He comes back home Friday night not feeling well, so he skips dinner and visits bed early. Another morning, no one can reach him. A colleague is delivered to check on him and finds him unresponsive. It’s later determined which he died of the heart attack. What’s going to his family do? Workers comp Insurance won’t provide ANY coverage because Saudi Arabia isn’t a Battleground and the event didn’t happen while he was “on the job”. Essentially all his family will receive is a minimal Life Insurance settlement.
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