As overseas travel becomes more affordable, an increasing number of individuals worldwide take the opportunity to travel to a foreign country for short terms, extended periods or even the long haul. According to data from the World Tourism Organization (WTO), approximately 670,000,000 tourists visited foreign countries in 1999. While data on individuals living outside their home countries (expatriates) is sketchy, the figure is estimated at over 60,000,000. And the numbers are increasing exponentially, as the ubiquitous global economy takes shape, and individuals escape the limited opportunities of their home countries for the streets paved in gold somewhere over the rainbow.

While traveling or living overseas can be stimulating, individuals often overlook financial protection against illness and injury. There are several reasons for this over-site:

1. International travelers and expatriates are often unaware of the limitations of their existing health care plans back home in regard to overseas coverage. In most cases, their local plans will offer little or no medical coverage in a foreign country;
   
   
2. Individuals may not be aware of the astronomical cost of medical care overseas, especially in North America. Individuals, especially from countries with social medical care, mistakenly anticipate that they can independently cover medical expenditures overseas if need be;
   
   
3. Travelers and expatriates are often not aware of the affordability of international medical coverage.

International medical insurance policies typically fall into two categories:

1. Travel Medical Insurance - short term coverage for tourists, typically under one year. There are some policies that are renewable for up to three years, providing the traveler with flexibility in case the trip is extended or results in residency abroad. Most of these policies are limited to hospitalization and coverage for acute injuries and illnesses. They do not typically cover routine visits to doctors or preventive treatments such as vaccinations. Maximum coverage options typically range from $50,000 to $1,000,000 per trip.
   
   
2. Long Term Medical Insurance - Permanent plans for expatriates, employees of multinationals, missionaries and other internationally mobile individuals. These plans are similar to your standard permanent policies back home, but are portable overseas. They typically cover doctor visits as well as hospitalization and medicine. Be careful to read the fine print, as some policies are limited to certain geographic zones and may not offer guaranteed lifetime renewability (important feature if you choose to live abroad indefinitely) and outpatient prescription medication coverage. Maximum coverage options typically range from $500,000 to $8,500,000 per annum or $1,000,000 to $5,000,000 per lifetime.

One final note: if you've been convinced that international medical insurance is a necessity, be sure to read the fine print before choosing coverage. Price, though important, should not be the only factor. Whatever your decision, make sure that the policy underwriter is solvent and has a positive claims paying history. Be sure to check the company's rating at A.M. Best and/or Standard & Poor's.