Expatriates advised to take out overseas health insurance

One in four European workers wish to retire to Spain and take up the expatriate lifestyle when they have finished work, new research has revealed.

A survey carried out by Aon Consulting found a rich source of expat health insurance opportunities for brokers in the World Cup-winning country, as a quarter of the 7,500 Europeans questioned opted for Spain as the retiree destination of choice.

France was also popular with 15 per cent of those considering becoming expatriates, while Italy and Australasia made it into the top five most popular destinations with would-be expats.

Oliver Rowlands, Aon Consulting head of retirement for Europe, the Middle East and Africa, noted that the prevalence of cheap air travel and the internet allowed individuals to remain in close contact with their family even after moving overseas.

"Not surprisingly, most people want to spend their retirement predominantly in countries with good weather and good social and government benefits, and ideally close enough so that they can get home quickly if they need to" he pointed out.

Mr Rowlands added that those thinking about retiring overseas need to consider taking out international medical insurance for peace of mind.

Online expat magazine Shelter Offshore recently advised those moving abroad to get their finances in order before they leave to save time and stress upon arrival.