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