Health & Protection in Luxembourg

Insurance plays a great role in protecting the life and finances of every expat. Once you have decided to relocate abroad, you should immediately include protection as one of your immediate needs. The good thing is, expats moving to Luxembourg will find highly reputable companies that can give them health coverage and protection and most of local employers will provide you with a good benefits package.

Getting Insurance

Expats moving to Luxembourg are often provided with the primary medical insurance from their employers. However, if you are relocating with your dependents and they are not part of your coverage, you can also get health plans from the many international and local companies in the country. BUPA Global is one of the multinational providers of health insurance to expats in Luxembourg. You can also protection for your home and care from Bâloise Assurances Luxembourg, one of the country’s leading non-life insurer that was founded in 1890.

Choosing the right insurance company will define the success of your financial planning. You have to be sure that the provider you are dealing is licensed by the Commissariat aux Assurances CAA (Luxembourg Insurance Commission). Expats can also seek assistance from this agency in case they have any complaints or issues regarding their insurance provider.

You can also ask your HR office or fellow expats if they have any referrals. The news of excellent service can quickly spread by mouth, so it will be helpful for you to ask around for their experience about a particular provider. At the end of the day, take your time in studying their different plans and prices so that you can decide clearly which one can suit your needs.

Importance of Insurance

Aside from the state-funded public medical care, it is also important for expats to explore if needed private health insurance while in Luxembourg so that they will have adequate coverage in the time of need. There are regular health hazards in the Duchy, but nothing more than in regular business hubs. Vaccinations are highly recommended for expats and can significantly decrease the chances of you being gravely ill. It is one of the essential medical services that can be covered if you have health insurance.

Local Insurance in Luxembourg

The insurance industry in Luxembourg is considered to be a world leader when it comes to delivery of products and their standards. International companies or European insurance groups, to be precise, are the major role players in the industry and represents over 90% of the total premiums. One major factor that makes the Luxembourg’s insurance industry one of the best in the world is the strict and efficient regulation of the Commissariat aux Assurances CAA (Luxembourg Insurance Commission) whose goal is to make sure that the sector is on par with EU and national laws.

If you are planning to drive in Luxembourg, you should know that it is not you who will be insured but your vehicle itself. All registered cars should have at least the Assurance Responsabilité Civile (Third Party Liability Auto Insurance or RC) which will cover any damage done to third party property involved in the accident. You can also get the other two types of auto insurance which are Tiers Personnes (Part Comprehensive) which includes the third party, theft and fire as well as the Tous Risques or Casco (Fully Comprehensive) which includes almost everything.

Luxembourg is among those countries who present you with an abundant choice for your health and protection. Aside from the many prominent local providers, expats should also take into strong consideration the multinational companies. International insurance has a more superior coverage that can cover your medical needs and assets both locally and globally. It is a kind of benefit expats need because of their lifestyle and might not be covered by a national provider.