Many industries like oil and gas, power and construction, tend to hire contractors in lieu of employees. The employer needs are often shorter term and tied to particular phases of a project they may be working on. Benefits may not be required and at times are offered in a limited capacity.

The nationality of the contractors plays a large role in the decision process as many contractors hail from around the world. Benefit package expectations may be greatly reduced depending on the contractor’s home countries.

Things to consider:

• Nationalities of contractors
• Work location/s
• Is cover supplemental to a Nationalized Health System?
• Is limited coverage acceptable?
• Will contractors be working on rotation?
• Is the insurer able to conduct business in all countries you will be working in?

The Kent International Group has experience custom designing these plans to suit a certain industry or project. Contact us to see if we can help you with your requirements.

The amount of insurance is secondary to making sure you utilize a group Life insurance carrier that can cover contractors anywhere in the world including Iraq and other unstable, problem areas.

As we stated in the (Expatriate section), American insurers tend to only cover U. S. based employees. Rehabilitation is difficult in a foreign country and many insurers insist the employee return to the U. S. When companies employ non-American contractors, disability can be offered in a different format from the traditional American style LTD plan. Shorter term, European style, benefits can be offered that can be designed to suit an individual project.

Important things to decide when purchasing cover.

• Nationality of contractor
• Duration of benefits
• Salary only or include bonuses?
• Terms of coverage?
• Can carrier pay and process claims in multiple currencies?
• On or off the job cover or both?

Placing the business with the right insurer is essential. Kent International Group works with insurers both in the U. S. and outside in order to obtain the correct cover.

Traditionally contractors willing to work overseas have been responsible for providing their own retirement income. Employers have seen the opportunity to recruit the most talented and experienced contractors by making available an International Retirement Plan. Contractors on overseas assignment tend to be higher paid and are looking for alternative or additional savings vehicles. These plans are very flexible and can be customized to aid recruitment, and become key retention tools.

• A vast array of investment funds available
• Unlimited contributions (whilst outside of the U.S.A.)
• No discrimination testing
• Accumulation of funds tax deferred
• Custom design for employee retention
• Funds in “Trust” for contractor protection

As with any retirement program, a full disclosure and explanation must be reviewed prior to purchase.