The Benefits and Risks about Digital Nomad Insurance for Web 3 creators.
There is increasing number of Digital Nomads in the Web 3 space. Digital Nomads are a growing community that allows Entrepreneurs to work and travel around the world. Digital Nomad insurances was a company I discovered on my journey in the web 3 space.
Digital Nomad Insurance is a great product that gives you a sense of peace, if you travel for long periods of time in other countries if thats for business and pleasure. Safety Wing is a great Insurance specifically for this lifestyle. Below I share some insights and what Safety Wing has to offer.
SafetyWing is a travel insurance and international health insurance company. They offer a variety of insurance products for travelers, remote workers, and digital nomads. These products include health insurance, trip cancellations, and emergency medical services. SafetyWing aims to provide affordable and accessible insurance options for people who are traveling or living abroad.
As I work in the metaverse full time, I realize it will create a shift in many peoples lifestyles like it did for me. I believe it will create a worldwide shift to be honest. As work has been becoming more accessible online, we need to be ahead of the heard and stay prepared. I have met a few creators in Decentraland Metaverse already who are also on the same path. It's no coincidence that Digital Creators will be able to travel and also get inspired along the way. As I travel abroad myself, I needed to find an insurence that would cover my needs. I became an ambassador and member for safety Wing because i found it to be the most beneficial. As I meet others on this same path, through conferences, meetups, and work, I realized how well prepared I am. Which gives me great confidence on this journey. I will list some of the benefits for having insurence and also risks for not having Insurance for this type of lifestyle or even just in general.
Travel Insurance
This is such a nice Perk. When i landed in Bangkok, Thailand, i ended up going to baggage claim, only to find a sign with my name on it that said "Please go to Baggage Claim Office" My heart sank! I had all my equipment and belongings in my luggage for work. A race of thoughts flooded my mind about what is going to happen. They told me the airline left it in my last layover, and the tags must of fell of the luggage. I had to fill out a form and went to my hotel. They ended up finding my luggage 5 days later. I ended up spending over $300 for clothes, toothbrushes, commuting back and fourth to the airport. I didn't have insurence then. If I did, I would have been covered and compensated and would have received $100/day that I didn't have my luggage. i could have gotten more then $500 for trip, and that would have been nice to use for my trip. Thats why it's important to have this clutch, for situations like this. Don't be like me, and not be prepared. Now i know on this journey what I should do.
This is what Travel Insurance Covers.
Trip interruption - Up to $5,000. No deductible
Travel delay - Up to $100 a day after a 12-hour delay period requiring an unplanned overnight stay. Subject to a maximum of 2 days. No deductible
Lost checked luggage - Up to $3,000 per certificate period; $500 per item. Up to $6,000 lifetime limit. No deductible.
Natural disaster — A new place to stay Up to $100 a day for 5 days. No deductible
Political Evacuation - Up to $10,000 lifetime maximum. Not subject to deductible
Emergency medical evacuation - Up to $100,000 lifetime maximum. Not subject to deductible or overall maximum limit.
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Medical Insurance
We never want to think something bad can happen to us on our trip. We are already living on the edge-diving either into the metaverse, web 3, or working online. Eventually if you are aren't already traveling and working remotely in web 3, that isn't a reason to not take your health and safety seriously. its so important to be prepared for any situation. Traveling abroad increases risk catching diseases or getting hurt with activities. There are so many variables, why give yourself worry or stress while traveling. As someone who is already living it, the minute i got insurence i felt already more at peace and relaxed that if anything were to happen, I have the right Resources and Coverage. Here are a list of their Benefits.
Benefits of Coverages.
Max Limit $250,000 ($100,000 for 65 years and above) Deductible $250 Hospital Room and nursing services Intensive care Up to the overall maximum limit Ambulance Usual, reasonable and customary charges when covered illness or injury results in hospitalization Urgent charges $50 co-payment, not subject to deductible. Physical therapy and chiropractic care Up to $50 per day. Must be ordered in advance by a physician. Emergency dental Up to $1,000. Not subject to deductible. All Other Eligible Medical Expenses Up to the overall maximum limit.
Notable exclusions
High risk sports activity
Pre-existing disease or injury
Cancer treatment
*It's important to keep in mind the Risk Factors for Not having Insurance *
Risk Factors for Not having Medical and Travel Insurance
Financial burden: In the event of an accident or illness, the cost of medical treatment can be extremely high and may result in significant financial strain.
Limited access to medical care: Without medical insurance, individuals may not have access to adequate medical care or may be unable to afford the treatments they need.
Lack of coverage for pre-existing conditions: Individuals with pre-existing conditions may not be covered for the treatment of those conditions without insurance.
Higher out-of-pocket expenses: Individuals without insurance may have to pay for all medical expenses out of pocket, which can be very expensive.
Reduced quality of care: Without insurance, individuals may not have access to the same quality of care as those who are insured, as they may not be able to afford the best treatments and facilities.
Overall, not having medical insurance can result in a significant financial burden and reduced access to adequate medical care. It is important for individuals to consider their insurance options to ensure that they are adequately protected in the event of an accident or illness.
Qualifications
Now safety Wing covers most states, but they do not cover Florida. If you are someone who does live there, you can always use a close relatives address. This would avoid you paying higher Insurance for Digital Nomads that may cost over $100/month. Age plays apart as well, if you are over the age of 39, it does had a slight price difference. Below you can get a quote on what you would be paying a month.
Now if you don't plan on traveling for more than 3 weeks this may or may not be for you. Visit the website to learn more. There are other plans out there, but the cost actually might end up being double. It's always good to do your research before anything. As a member, i can assure you that this by far as the been the most cost effective and convenient as a digital nomad. Here is a recap of the benefits.
Recap of Safety Wings benefits.
Coverage for emergencies: SafetyWing's insurance products provide coverage for emergency medical expenses, hospitalization, and evacuation in the event of an accident or illness.
Accessibility: SafetyWing's insurance products are designed to be accessible to travelers, remote workers, and digital nomads, regardless of their location or destination.
Affordability: SafetyWing aims to offer affordable insurance options that provide comprehensive coverage.
Continuous coverage: SafetyWing's insurance products provide continuous coverage for travelers, remote workers, and digital nomads, regardless of the length of their trip or time spent abroad.
Convenience: SafetyWing provides an online platform for purchasing insurance, making it easy and convenient for customers to access insurance coverage.
Overall, SafetyWing provides peace of mind for travelers, remote workers, and digital nomads by providing coverage for unexpected medical expenses and other travel emergencies.
Hope you will consider this on your journey. I am a currently an ambassador and member. If you use my link it helps us both. Also has I am currently living the lifestyle, it really does ease the mind that I know if anything does happen, I will be okey! Hope this article finds you more clarity and insight!
Make Sure You check out my other blogs around Digital Nomad lifestyle and Working in the Metaverse.
The perks of using Crypto.com for travel and remote work in 2023
How working in the metaverse is changing my life and how it can for you too
3 top essentials for Meta Performers as a Digital Nomad
Please feel free to leave a comment, let me know if you know of another better insurence for digital nomads. Leave a Review, or any questions you may have. Feel free to also reach me on my Twitter or IG, my DM's are open.
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Serena Elis - Founder, of Daydream X Sea
Serena Elis is a Singer, Multi-Performer, 3D Artist, Blogger, and Music Producer. She is one of the First singers in Decentraland starting her journey in web 3 back in 2020. She's been featured on NBC news, and Mashable Magazine for her collaborations, and innovation in the Web 3 Space. You can find her in the Metaverse Performing weekly and working in the Entertainment World of Web3. She's also a digital native with a devotion to creating engaging content with resources and helping other artists in their Journey.