SafetyWing Review|Medical insurance made for Digital Nomad

SafetyWing ReviewEmigration

Hello.I am Papazon of the Nomad family.(@nomadkazoku)
Currently, our family is working to obtain an MM2H visa with the aim of moving to Malaysia.

Regarding medical insurance, which I was worried about moving abroad, in my previous article, I compared nomad insurance “Nomad Insurance” for Nomad with medical insurance that Japanese overseas immigrants often use.

This time, I would like to take a deeper look at SafetyWing and its products, which actually provide medical insurance for Nomad.

What is SafetyWing, which provides medical insurance for Digital Nomad?

SafetyWing is a Norwegian-based Insurance and Technology company.He graduated in 2018 with Y Combiner, a startup support organization that emits Airbnb, DropBox, and other products, and currently offers health insurance plans to more than 15,000 customers worldwide.

We sell two insurance products, Nomad Insurance, which combines travel and medical care, and Remote Health, an international comprehensive health insurance company.

In the future, we aim to build global social security and integrate health insurance, accident insurance, and pensions (financial compensation) among global members.

The difference between the two products of SafetyWing

We compared the differences between two insurance products “Nomad Insurance” and “Remote Health” offered by SafetyWing.

Nomad InsuranceRemote Health
Compensation outside of mother’s country
Compensation in your home country△*
Short-term plan**×
Travel compensation×
Coronavirus Compensation×
Cancer compensation×
Compensation for History***×

* Limited insurance for short-term visits (30 days
in principle) ** Remote Health can pay monthly, but an annual contract is required.
a disease that is cured now but has been older

Nomad Insurance also supports urgent and expensive medical coverage while also supporting travel troubles in life outside the mother’s home when traveling.

Remote Health, on the other hand, is designed to compensate for overall health in countries around the world (more than 175 countries).

We will explain in detail the characteristics of each product.

What is Nomad Insurance?

Nomad Insurance is safetyWing’s first medical insurance for digital nomads.

Travel insurance and medical insurance are packaged, and it is a product that covers medical care overseas at a reasonable price of 37 dollars in four weeks.

We provide insurance as a partner to Tokio Marine HCL, a group company familiar to Tokio Marine in Japan.

Advantages and Disadvantages of Nomad Insurance

Nomad Insurance features include:

◯ Low-cost
◯ short-term plan (minimum 5 days)
◯ There is travel-related
◯ compensation with compensation for children (family)
(free for one person under 10 years old per adult)

x medical compensation in the home country is limited to 30 days every 90 days
x Coronavirus* without compensation for cancer or past diseases

*For coronaviruses, the “World Travel Warning” issued by the U.S. Centers for Disease Control (CDC) was issued on March 27, 2020, and is no longer covered by the provisions of travel health insurance.After confirming with support, it is said that coronavirus coverage will continue for six months after the RELEASE of the CDC’s “World Travel Warning”.

In the event of another infectious disease in the future, there is a possibility that the eligibility of compensation will be decided based on the presence or absence of a “World Travel Warning”.

Nomad Insurance Price List

Nomad Insurance is an insurance policy that automatically renews your contract every four weeks.
The insurance premiums for every four weeks are determined by the age and the presence or absence of medical compensation in the United States, and the following rates are set.

Except americaincluding America
15 to 9 years old$0.00*$0.00*
10-39 years$36.96$19.76
40-49 years$19.92$111.44
50-59 years$199.08$183.68
60-69 years$127.68$250.60
*As of May 2020

*Children between the ages of 15 days and 10 years old are free of charge for up to 2 children per adult and up to 2 per family.

Nomad Insurance is recommended for people like this

People who want to reduce the cost of medical insuran
ce, people who are relatively
healthy, people with a lot of travel (
travel), people who have undecided period o
f stay abroad, and children under the age of 10

Details |SafetyWing Insurance

https://safetywing.com/description-of-coverage.pdf

What is Remote Health?

Remote Health is a health insurance for remote workers and nomads that was just announced in March 2020.

Remote Health can provide medical compensation not only to individuals but also to team staff working in the company, and by customizing plans, you can create more substantial medical compensation.

Nomad Insurance also covers the treatment of coronaviruses that are no longer covered by travel health insurance regulations.

We provide insurance as a partner of Now Health International, which is headquartered in Hong Kong.

Advantages and Disadvantages of Remote Health

Remote Health features include:

◯ Wide-ranging compensation (coronavirus, cancer, previous disease)
◯ Medical care in home country is also covered
◯ US medical coverage is also covered
(U.S., Hong Kong, and Singapore have a limit of 30 days)
◯ Enhanced option compensation
(Dental care, exemption from liability, outpatient treatment, extension of compensation period limit days)

× No travel related compensation

Remote Health Price List

Remote Health is a basic one-year contract.
It is also possible to pay monthly, but the annual payment is about 5% advantageous.

MonthlyAnnual
18-39 years$153$1,745
40-49 years$229$2,612
50-59 years$354$4,044
60-69 years$666$7,602
*As of May 2020

For children under the age of 18, it is said that an estimate is required after the parent’s application.
I checked with support, and now it seems to be 2/3 of the price of 18-39 years old.

Remote Health Options Menu

Remote Health can provide additional charges for the base fee and optional compensation.

(1) Add dental care compensation
Add dental care compensation of up to $1,500 per year.However, a cumulative period of nine months is required before the compensating begins.
(2) Elimination of
deductible amount The basic compensation contract has a deductible of 250 dollars each year.This option eliminates the disclaimer setting.
(3) Extension of compensation period in the United States, Hong Kong and Singapore
Under the basic compensation agreement, the medical compensation period in the above area is within 30 days.
 This option allows you to extend the coverage period to six months.
(4) Addition of outpatient treatment
compensation 90% refund is covered for medical services other than hospitalization (family doctor, physical therapy, etc.).

The cost of option compensation varies depending on the combination, but can be easily estimated on the official website.

※ After the page transition, please click “Pricing” in the menu.

Remote Health is recommended for people like this

  • People who need coronavirus treatment compensation
  • People who need cancer treatment compensation
  • People who stay in their home country for a long time
  • People who want to add compensation with options

Details:SafetyWing Remote Health Benefit Schedule

https://safetywing.com/static/media/remoteHealthCoverage.1d9fd17e.pdf

Summary

I looked into the difference between SafetyWing and its two medical insurance, Nomad Insurance and Remote Health.

At present, I think that the biggest difference between the two products is the treatment compensation of coronavirus.

The response to coronaviruses is described in detail on the official website, and “Remote Health” is recommended as a solution to the corona virus problem.

※ It seems to have been considered to create an optionof corona measures in “Nomad Insurance” after the pandemic, but as a result of the simulation, it seems that it was not feasible in terms of cost.

In the current situation where the second and third waves of pandemics are expected in the future, we would like to consider enrolling in medical insurance mainly based on “Remote Health“.

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