Asset Protection Plan Offshore? I travel a lot and protecting myself while I am on the road is a major part of my asset protection plan. If you are in a foreign country, your medical care is not guaranteed. In fact, medical hospitalization will often be denied. Most countries will require cash up front before you are admitted to a hospital. Even in the US, it’s awkward to get into a hospital that isn’t in your insurance network.
I have a good friend who had a heart attack while on a cruise down the Western Mexican Coast. His wife got him off the boat and to a hospital. That didn’t help much, because the hospital required cash upfront. They didn’t have that much cash. They did have an American Express card, which saved his life. It was a great Asset Protection Plan Offshore, it was able to protect his body.
As a merchant, I don’t like American Express cards, because they charge the merchant about three times what Visa/Master Cards do in order to process a sale. As a card user, you need an American Express card if you are traveling outside of the USA. It is the only card that I am aware of that will guarantee your medical expenses in a foreign country. It is your asset protection plan offshore that gets you into the hospital.
I am certainly not a salesman for American Express, but they help the frequent traveler. I also have a little supplemental policy on me and my wife. It is called “Travel Medical Protection.” If I am more than 150 miles from home, it will pay up to $100,000 in medical expenses not covered by my normal insurance; pay up to $100,000 to get me to the nearest facility that can handle my medical emergency, including medivac back to the USA; and $100,000 in life insurance and dismemberment. It costs $75 per person for annual coverage. You do have to have an AX card before you can get the policy.
These are just a couple of thoughts for the frequent traveler.