Planning for the Future: Choosing the Right Insurance
As a Greek citizen spending time abroad, the type of insurance you need will depend on your situation – whether you’re relocating to a new country, traveling for an extended period, or just taking a short trip.
For example, you may need health insurance to cover medical expenses if you become ill or injured while living overseas, or travel insurance to protect against trip cancellations, lost luggage, or delays during your vacation. If you’re planning for the future, you might also consider life insurance to provide financial security for your loved ones in the event of your passing.
Whatever your situation, selecting the right type of insurance will help you prepare for any circumstance, whether you are living or traveling abroad. To help you understand your options and stay fully protected, this article provides an overview of health, travel, and life insurance for Greek citizens living and traveling abroad.
As of 2023, it is estimated that over 5 million people of Greek origin reside in approximately 140 countries worldwide.
This large group, known as Omogenia or the Greek diaspora, exemplifies the widespread dispersion of Greek communities worldwide. For this diverse, dispersed population, adequate coverage is essential.
Whether you are living abroad for work, retirement, or other reasons, knowing how to access healthcare should be a top priority.
However, depending on the country you are in, access to free or national healthcare, including emergency services, may be limited or unavailable.
In such cases, securing the right insurance will ensure that you and your family are covered for medical expenses. This will give you peace of mind no matter where you are.
Which Countries Have a Reciprocal Healthcare Agreement with Greece?
Greece has reciprocal healthcare agreements with several countries, allowing Greek citizens to access healthcare services abroad under specific conditions.
This also applies to Switzerland and the European Economic Area (EEA), including Norway, Iceland, and Liechtenstein.
However, the EHIC is only valid for temporary stays in the region. For longer stays, Greek citizens may need to complete an S1 form to continue accessing healthcare. Without this, they may need to purchase private health insurance or pay out of pocket, which can be costly.
It’s important to note that the EHIC covers only ‘medically necessary’ emergency and public healthcare services.
It does not include planned treatments, non-emergency care, or private healthcare services. Additionally, it does not cover rescue and repatriation costs.
For example, if you are injured while participating in risky activities such as skiing, the EHIC will not cover rescue services or the costs of returning to Greece. You would need to pay these costs yourself or have separate insurance to cover them.
Following Brexit, Greek citizens can continue to use their EHIC to access healthcare during temporary visits to the UK. However, this coverage might change, so it is advisable to have additional health insurance when visiting or residing in the UK.
Greece also has a reciprocal healthcare agreement with Australia. This allows Greek citizens to access necessary medical treatment during temporary stays in the country.
The Best Health Insurance Plans for Greek Expats
If you have been living in Greece, you might have used your AMKA (Greek social security insurance) or private coverage to access healthcare in the country.
However, when living abroad, you will need international coverage to ensure you have access to adequate healthcare services. There are several options depending on where you plan to live.
The Best Health Insurance Plans for the EU
As mentioned, reciprocal healthcare for Greek people in the EU is limited to “medically necessary” care only. Therefore, you will need to arrange global health insurance to get full coverage, including repatriation.
Cigna Global and IMG Global Prima offer EU-focused health plans with various levels of coverage to fit your needs and budget.
These are excellent choices for Greek expats and families planning to live in European countries long-term, thanks to their specific European coverage options:
Cigna Global: Provides affordable, comprehensive coverage in Europe. Cigna’s product is fully customizable, allowing you to select only the benefits you need and choose your deductible, which helps reduce your monthly premium.
IMG Global Prima Medical Insurance: Offers an exclusive, European-only, customizable plan, setting it apart from other options and appealing to European expats living on the continent.
The Best Health Insurance Plans for the US
The U.S. healthcare system is notorious for being complicated and costly. A U.S.-based plan is the best way for Greek expats to navigate this system and avoid large out-of-pocket medical bills:
BCBS Global Solutions Worldwide Premier: The plan offers comprehensive coverage for Greek citizens residing in the U.S., featuring the industry’s best benefits, coverage, and service levels through BCBS Global Solutions’ Blue Cross Blue Shield PPO Network in the United States. However, this plan is unavailable to residents of New York, Maryland, Washington, and North Dakota.
Cigna Global: Offers a comprehensive, customizable worldwide plan with U.S. coverage, tailored to your specific health needs and preferences.
The Best Worldwide Health Insurance Plans
Greek expats needing worldwide coverage have a couple of options to choose from, as follows:
IMG Global Prima Medical Insurance
Five flexible plan levels with optional add-ons
Choose your coverage area based on where you live or travel
Freedom to select your healthcare provider anywhere in the world
Notably, if you want to save on insurance costs while still having coverage for both your home country and another destination, Cigna Close Care can be a more cost-effective choice than broader global plans. This is because it provides targeted coverage for these specific regions.
Travel Insurance for Greek Residents
Whether you’re a frequent flyer or planning a single trip abroad, travel insurance can protect your health, travel expenses, belongings, travel plans, or all of the above.
Depending on the plan you choose, it can help you recoup costs if your trip is canceled, replace lost luggage, and provide top-quality medical care anywhere in the world. It can also cover risky activities like parasailing or scuba diving.
For Greek residents traveling abroad, selecting the right plan is crucial for ensuring financial protection and peace of mind throughout your journey.
Trip Cancellation Insurance
If you only need basic trip cancellation coverage, you might want to consider World Nomads. It offers reimbursement for non-refundable expenses due to covered reasons like illness, injury, or the death of you or a close family member.
It also covers the costs of returning home early and rescheduling or rebooking if your trip is disrupted by covered events.
However, the ideal plan should cover unexpected medical expenses, including hospital stays, doctor visits, and emergency medical evacuation.
It should also protect against trip interruptions, lost luggage, and other unforeseen incidents that can impact your travel experience.
Greek citizens traveling overseas can choose from several travel medical insurance plans, depending on their destination.
Traveling Outside the US
Atlas International: Offers worldwide medical coverage, excluding the United States. It includes features such as translation assistance during treatment, doctor and hospital referrals, and help with replacing lost prescriptions.
Trawick Safe Travels International: Provides global coverage for Greek citizens traveling outside the United States, with comprehensive benefits and various levels to suit all budgets.
IMG Patriot Platinum: Offers comprehensive coverage, including inpatient and outpatient services, emergency care, dental treatment, and coverage for lost luggage. The plan is available for as little as five days and can be renewed for up to three years, with flexible renewal options available in monthly or daily increments.
Trawicks International Safe Travels USA: The best plan option for Greek citizens visiting the United States. It includes medical, evacuation, and repatriation coverage, with options ranging from five to 364 days, and extensions are available.
IMG Patriot America Platinum: Offers comprehensive benefits, including medical coverage, emergency evacuation, and repatriation, specifically designed for travelers visiting the U.S., with flexible policy durations and high coverage limits.
If you plan to travel overseas several times a year, you may want to consider buying annual travel insurance or multi-trip coverage.
These plans cover a full year of travel, with a maximum duration specified for each journey.
IMG Patriot Multi-Trip is a great option for Greek citizens, families, and groups of five or more who travel frequently outside Greece throughout the year.
You can renew it for up to 36 months and choose a maximum trip duration of 30, 60, or 90 days per trip.
Planning for the future is essential, especially for Greek citizens living or traveling abroad, and global life insurance plays a key role in this.
It ensures your family is financially supported if you pass away, covering funeral costs, outstanding debts, and ongoing living expenses.
This protection becomes even more crucial when you’re living or traveling internationally, where local insurance options might be limited or non-existent.
If you have a domestic life insurance policy, review it before moving abroad to ensure it doesn’t exclude coverage for deaths outside of your country of residence. If it does, consider switching to an international plan for complete protection.
An international plan ensures beneficiaries receive a death benefit, even if the policyholder dies abroad.
This can give you peace of mind, allowing you to focus on your work, travel, or adventures without worrying about your family’s financial future.
Term Life and Whole Life Plans
You can choose between two primary types of international life insurance: term life insurance and whole life insurance. Term life plans are popular among expats and travelers because they offer affordable premiums and flexible coverage options.
These plans are cost-effective and can be adjusted to suit different needs. Whole life plans, on the other hand, offer lifetime coverage and a guaranteed death benefit, which is particularly appealing to those concerned about future health changes and the need to secure insurance later.
Each option has its benefits, allowing you to choose the plan that best meets your needs.
The Best Life Insurance Plans for Greek Citizens
Greek citizens can choose from reputable life insurers such as William Russell and Unisure, which both offer comprehensive and reliable coverage tailored for international lifestyles:
William Russell: A leading provider of both international life and health insurance. They are an excellent choice for Greek expats, offering the convenience of combining both types of coverage into a single policy.
Unisure: Provides a range of options, including Term Life, Whole Life, and annually renewable plans. You can also add extra benefits, such as Accidental Death and Waiver of Premium riders.
Find the Best International Life Insurance
Life coverage designed for global individuals and families
Flexible plan options from trusted international insurers
Get personalized guidance from a licensed specialist
Whether you’re a Greek expat living abroad or a traveler visiting multiple countries, selecting the right insurance is crucial for maintaining peace of mind.
Health, travel, and life insurance provide the protection you need against the unexpected, ensuring your financial security and access to necessary services.
Before you embark on your journey, take the time to evaluate your situation, understand your needs, and select the insurance plan that best covers you and your loved ones, no matter where life takes you.
Emily Cotlier is an experienced communications consultant and business analyst, senior analyst at New Zealand’s Parliamentary Counsel Office, specializing in visas, immigration, international relocation, and managing finance, insurance, and real estate.
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