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Credit Cards -
AmEx points out poor expat health planning - 26/10/2007
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Credit card firm American Express (AmEx) has pointed out a potential life insurance-related health timebomb among Britain's expat community.
A large number of foreign residents were found by the firm to have not taken out appropriate healthcare plans - which might lead to an inability to pay for local hospital treatment and, in extreme cases, death and a life insurance payout.
Even if reciprocal agreements exist between the UK and the host nation's governments, costs are only partially met by authorities: in France by 80 per cent and in Spain by just 10 per cent, leaving the patient with a potentially huge bill.
General manager at AmEx Chris Rolland commented: "Moving abroad can be a complicated matter and looking after your health at this time is often the most important concern."
Most UK insurance firms offer health, home and life insurance to expats.
An average of 500 Britons leave the country every day to live and work abroad, AmEx said.
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