Should I get insurance if I'm going overseas?

Hey Anon,

Awesome that you're having the opportunity to further your studies.

The best time to buy insurance is today when you're healthy. But understandably, without an income for 2 years, you'd most likely not be able to afford the premium on your policy while you're in the States.

What you can do, is to purchase a renewable 5 or 10 year term policy for the time being. This would allow you to extend this by another 5 or 10 years should you need it.

That would be the cheapest way to purchase insurance that you require right now, and then when you're back, you can then purchase a longer term policy and drop your renewable term.

Also, don't buy insurance based on premium, but based on coverage required.

As a rule of thumb, you should cover 10 X of your Annual Income or around 25 X your annual expenses (if you don't have an income).

I suggest speaking to an Independent Financial Advisor Rep like myself and I can provide you with solutions from over 10 different insurers without bias to any one solution provider.