A New Social Safety Net for Entrepreneurs

Should you’re a digital nomad or a location-independent enterprise proprietor, you’re both overpaying for fragmented insurance coverage protection (journey, medical, and so forth.) or simply badly underinsured. You might have a well being plan, journey insurance coverage, and perhaps some medical evacuation protection. However, if you work for your self, you lack the form of security web protections you get with a company job. And you can’t use a rustic’s social security web as a result of, nicely, you’re not a citizen, proper? You’re simply roaming the world!

So what do you do?

The journey insurance coverage firm Security Wing is seeking to change that. They’ve all the time wished to create this all-in-one package deal for digital nomads that features insurance coverage, worker advantages, and a social security web.

I take advantage of their journey insurance coverage on a regular basis they usually have simply launched what they name Nomad Citizen that seeks to deal with the gaps in protection.

What’s Nomad Citizen?

Nomad Citizen is an annual membership that bundles well being protection, journey safety, revenue safety, and life insurance coverage advantages right into a single plan. It’s for location-independent entrepreneurs and enterprise house owners who spend greater than half the yr outdoors their residence nation and whose lives and revenue cross borders as a default.

Nomad Citizen covers you globally with no residency restrictions (aside from Puerto Rico).

Who can enroll?

Nomad Citizen covers individuals below 56 and incomes at the very least $4,000 USD per 30 days. You enroll on-line, select your begin date, declare that you just’re in good well being, and ensure you’ll be outdoors your passport nation for greater than half the yr. You may as well add your companion and any kids below 18.

However who ought to sign-up? That is an attention-grabbing product. I positively assume there’s a distinct segment for it. In spite of everything, let’s say you’re an entrepreneur in Bali and don’t have entry to any social security web. What occurs for those who get sick or actually harm and also you’re out of labor? A buddy of mine in Mexico was hit by a automotive and severely hospitalized and ate into his journey insurance coverage limits actually shortly. Afterwards, he couldn’t work for months whereas he was in rehab and began a GoFundMe for assist. A product like Nomadic Citizen would have helped him. Or helped any of the opposite digital nomads who get injured on the highway and have to lift funds.

I feel this product is nice for somebody who resides in a rustic outdoors their very own with out entry to social companies and a strong social security web. For instance, for those who dwell in Sweden and have entry to all the advantages of the State, this product most likely isn’t for you as a result of they’ve tons of companies however for those who dwell in Thailand, Mexico, Indonesia, or France however don’t have entry to advantages, or are simply roaming the world, have a excessive revenue, work by yourself, or have a household, then this product can be one thing to contemplate.

How a lot does it value?

For these signing up on or after July 1, 2026, the Nomad Citizen membership prices $443 per 30 days for these 18 to 39. Should you’re 40 – 49, it’s $665 per 30 days, and $875 per 30 days for 50-55. Kids value $143 per 30 days ({couples} on the plan can add their first youngster below 10 for free of charge). You possibly can pay month-to-month or yearly.

A word about US protection: Nomad Citizen is actually worldwide, together with the US, though it must be famous that protection limits weren’t designed for in depth use there…as a result of nicely, the US well being care system is only a mess.

What’s Included?

Earnings safety: The revenue safety profit might be the only most compelling motive Nomad Citizen exists. Conventional revenue safety or incapacity insurance coverage requires a hard and fast employer, a everlasting deal with, and residency in a selected nation. Freelancers and sole merchants working throughout borders are primarily uninsurable for revenue loss by way of typical schemes, equivalent to authorities help.

Should you’re a freelancer or distant employee and also you lose your revenue (you’re laid off, your contracts dry up, or you may’t work as a result of a medical situation), Nomad Citizen pays you as much as $4,000 per 30 days for as much as 3 or 6 months when you get again in your toes. That profit doesn’t exist wherever else!

Medical health insurance: As much as $1.5 million in annual protection for inpatient, outpatient, prescriptions, dental, imaginative and prescient, psychological well being, maternity, preventive care, wellness therapies, and extra. This is rather like medical insurance the place you reside and covers every part you want. It’s much more strong than common journey insurance coverage, which is simply there for emergencies.

Journey protection: Journey delays, cancellations, stolen electronics, misplaced baggage, evacuation, theft, household visits throughout hospitalisation.

Parental go away: If in case you have a child or develop into a authorized guardian of a kid, they pay US$4,000/month so you may take break day work with out worrying about cash. There’s a ready interval of three years to entry this profit. 

Lengthy-term incapacity: If one thing actually critical occurs to you and you’re completely compelled to cease working as a result of, for example,  you lose your eyesight, you’re recognized with most cancers, you’ve a serious stroke, or you may not do staple items like stroll, gown your self, or eat by yourself, they pay you US$4,000/month as much as age 75.

Visa help: Members can browse and apply for various governments’ variations of long-term visas designed for nomads (i.e. they’ll work on these visas) instantly by way of our app interface with out having to use by way of the federal government web sites. They deal with all of the direct communication with the federal government and high quality verify your software earlier than submission to maximise the probabilities of approval.

Nomad Care Map: Discover the perfect suppliers by way of their member-powered database of greater than 4000 healthcare suppliers everywhere in the world, with rankings for service and English degree.

Cost playing cards: Use your SafetyWing card to pay for coated companies as much as $500. This auto-generates a declare that has already been paid so that you do not need to attend for reimbursement. The SafetyWing card is a worldwide pay as you go debit card that’s despatched to each Nomad Citizen member, which they’ll use to pay for physician’s appointments or prescriptions with out utilizing their very own cash.

24/7 human assist: You’ll have entry to 24/7 dwell chat so you will get a solution from an actual individual inside a couple of minutes.

The whole lot in a single app: Claims, protection particulars, buyer care, supplier search with Nomad Care Map, and visa help are all managed by way of a single app. There isn’t a want to change between a well being insurer, a journey insurer, and a separate revenue safety supplier (if one existed).

Making claims

For well being protection, you both pay out of pocket and file for reimbursement or contact the 24/7 staff to rearrange direct fee with the supplier. For journey claims, you gather documentation (police reviews, provider delay notices, receipts) and submit a declare. For revenue safety, you’re employed with SafetyWing to confirm the loss and supply proof that you just’re actively in search of new revenue. The whole lot is managed by way of one app they usually make it actually easy and straightforward to do.

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I really like SafetyWing’s mission and use their journey insurance coverage on all my journeys. This new Nomad Citizen product is ideal for people who find themselves full-time digital nomads and need some form of revenue safety in addition to extra strong well being and journey protection and the form of social security packages you’ll get for those who lived in a single place. In spite of everything, when you find yourself a solopreneur, you do fear about what occurs for those who get injured, can’t work, or have a child. It’s all on you, proper? Nomad Citizen is this system that ensures that you just gained’t have to fret about this sort of stuff anymore.