Insurance abroad: This is what expats have to pay attention to!

Insurance abroad: This is what expats have to pay attention to!

As an economist, it is important to understand the financial impact of emigration on insurance and pension entitlements. According to a report from www.capital.de, expats need to carefully consider their pension and insurance entitlements to avoid unpleasant financial surprises.

An important matter that needs to be addressed is health insurance. It is crucial to take care of health insurance early on, especially if your new place of residence is outside of Germany. In such cases, expats must either take out international health insurance or seek inclusion in the destination country's healthcare system. This can result in significant costs that need to be taken into account.

Furthermore, a permanent move abroad also affects pension entitlements. The pension entitlement depends on the destination, in particular on whether the destination country has an agreement with Germany or not. In some cases, emigrants have the opportunity to make voluntary contributions to the German statutory pension insurance in order to optimize their pension benefits.

In addition, expats will need to review and potentially cancel their other contracts such as personal liability insurance, as residency abroad may affect these contracts. It is also important to find out about the effects of a change of residence on the Riester pension, as in some cases allowances and tax advantages have to be repaid.

Overall, it is crucial to find out early about the financial impact of emigration on insurance and pension entitlements in order to avoid unpleasant financial surprises.

According to a report from www.capital.de,