So, you’re ready to begin your Mexico retirement. You’ve bought that dream Mexico condo for sale for a great price, you’re packing up your shorts and sandals, and set to live in Paradise! But did you think to plan this one key item that could make big difference in how relaxing your retirement will really be in the end?
What is this item? Mexico insurance.
“Of course, insurance!! Do people use that in Mexico?” you might be asking yourself. Well, many people who should have insurance don’t. This doesn’t mean you should follow their possibly risky approach. After all, back home, would you consider not buying insurance to protect the most important parts of a comfortable lifestyle? When you’re living in a foreign country, it’s that much more important to make sure you are covered by insurance that will protect your investments, your health and your peace of mind!
The following are some points you will want to consider when finding insurance for your retirement in Mexico.
Does it have good coverage/credibility in Mexico? This is probably the first and most important point. Does your company work with Mexican service providers and guarantee quick and easy coverage when you need it? There are both Mexican and American companies that offer good coverage for Mexico. Checking reputation and references is worthwhile.
Does their staff speak English? While a Mexican friend or translator can help you set up the insurance in Spanish, or you could even work through it yourself if you have some basics, when you need to make use of their service, it may not be as easy to work across language boundaries. Companies are available where an English speaker will answer the phone when you call.
Have you covered everything you need to? Insurance that you might want to consider include cars, boats and travel. A really important one is your condo. Even though properties are cheap in Mexico, you’re still investing a good chunk into your retirement property. Health insurance is also a very good idea and is cheaper than back home.
Where and when is it valid? Some plans are only valid in certain parts of the country, or with certain service providers. These kinds of limitations are OK as long as you know exactly what they are, and when you travel to a different area for example, you make sure you get temporary coverage to cover your needs while your away.
Retiring in Mexico is very relaxing and very enjoyable. Having proper insurance coverage helps you make the most of all of this!
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