When planning a trip, travel insurance is something I always consider, especially if I’m venturing out of Europe. Many digital banks and fintech companies offer insurance coverage as part of their premium subscription plans, which makes things convenient if you travel frequently. In this article, I’m sharing my comparison of the travel insurance options provided by Revolut, Wise, and N26, highlighting what they offer, what they don’t, and a few alternative online travel insurance providers I’ve looked into.

Revolut Travel Insurance

Revolut has been a popular choice for digital banking users, and it previously included travel insurance in several of its premium plans. However, recent changes have affected its coverage:

• Available for: Revolut Metal and Ultra plan users.
• Coverage includes:
  • Emergency medical expenses.
  • Trip cancellation and interruption.
  • Lost or delayed baggage.
  • Travel delays.
• Requirements:
  • You must pay at least 75% of your transportation and accommodation costs using your Revolut account for coverage to be valid.
  • Maximum trip duration is 30 days for Metal and 90 days for Ultra subscribers.
• Recent Updates:
  • Travel insurance was removed from the Revolut Premium plan.
  • Changes to coverage limits and eligibility have been made for Metal and Ultra plan holders.

My Take: Revolut’s travel insurance is handy if you’re already on a Metal or Ultra plan, but the payment requirement adds a layer of friction. You have to remember to use your Revolut account for most of your bookings.

Wise Travel Insurance

Wise doesn’t include built-in travel insurance, which is a bit of a downside if you’re looking for an all-in-one solution.

• Available for: Not offered.
• Alternative option: You’ll need to purchase standalone travel insurance from an external provider.

My Take: I still love Wise for managing multi-currency spending, but it just doesn’t help on the insurance front.

N26 Travel Insurance

N26 offers comprehensive travel insurance through its premium accounts, N26 You and N26 Metal, in collaboration with Allianz Assistance.

• Available for: N26 You and N26 Metal plan users.
• Coverage includes:
  • Emergency medical coverage: Up to €1,000,000 for medical emergencies abroad, including dental emergencies and winter sports incidents.
  • Trip cancellation and interruption: Reimbursement up to €10,000 for non-refundable trip costs due to unforeseen events.
  • Baggage coverage: Up to €2,000 for baggage loss, theft, or damage, and up to €500 for baggage delays over four hours.
  • Travel delay: Coverage up to €500 for expenses incurred due to delays over two hours.
  • Personal liability: Coverage up to €500,000 for damages or injuries caused to third parties during a trip.
• Requirements:
  • N26 used to require you to pay with your card for some of the insurance benefits, but that’s no longer the case. Now, you’re covered as long as your premium account is active—no matter how you paid for your trip.
• Additional Benefits for N26 Metal Users:
  • Mobile phone insurance (up to €2,000).
  • Purchase protection for high-value items.

My Take: N26 is my favorite option overall. It’s straightforward, and I don’t have to stress about which card I used to pay for the trip.

Other Online Travel Insurance Options for Europeans

If you’re like me and want flexibility—or if your bank doesn’t offer insurance—there are solid standalone options available.

SafetyWing is great for digital nomads and long-term travelers. Their subscription model makes it easy to stay insured without having to buy a new policy for every trip. They cover the essentials: emergency medical, trip interruption, and lost baggage.

Allianz Travel Insurance is one of the big names in the space. They offer everything from single-trip to annual multi-trip policies. It’s reliable, well-known, and covers just about everything you’d need.

AXA Travel Insurance is another solid option. I like that you can tailor your policy depending on how much coverage you want. Their customer service reputation is strong too, which is reassuring when you’re abroad.

Europ Assistance (also known as Euros Assist) has been around for ages and has a global support network. Their coverage includes 24/7 medical help, repatriation, trip cancellations, and more. It’s a good option especially if you travel with family or have longer stays planned.

Heymondo has become a favorite among some of my friends. Their app makes it super easy to manage everything, including medical chat support. Their plans are flexible and well-priced, and they offer strong coverage limits for medical emergencies and trip issues.

American Express is also worth looking into if you already have one of their higher-tier cards. The Platinum Card, for example, includes travel insurance for cancellations, medical emergencies, lost luggage, and car rentals.

Also, don’t overlook the option of getting insurance during the booking process. Platforms like Booking.com and many airlines now offer insurance as an add-on—it’s convenient and can work well for shorter trips.

Conclusion

For me, N26 stands out as the best all-around option, especially with its no-hassle coverage and no need to use a specific payment method. Revolut is still a decent option if you already use it and don’t mind the 75% payment rule. Wise is great for money transfers, but you’ll need to look elsewhere for insurance.

If you’re not covered through your bank, providers like SafetyWing, Allianz, AXA, Europ Assistance, and Heymondo all offer strong standalone plans. And if you’re an Amex cardholder, you might already have decent coverage without needing to do anything extra.

For most of my trips, I usually rely on my private health insurance in Spain (which offers international coverage) combined with N26 You’s travel insurance that covers things that can go wrong with baggage, delays, etc. The nice thing is that if my family is traveling with me then the insurance actually covers all of us. This is way cheaper than taking out travel insurance policies for each trip. As an example, while checking for a recent trip to Asia visiting 3 developed countries, the dedicated insurance providers quoted me around €400-700 euro for a family policy, whereas with my N26 You account I would have more or less the same coverage for much less (€10 a month). The additional benefit is that I don’t need to think about travel insurance every time I go on a trip, as I know it will always be available for me as long as I’m on the N26 You plan.

No matter which route you go, make sure to check the fine print before you travel—having the right travel insurance can make all the difference when something goes wrong abroad.

Navigating Spain’s government services often feels like a test of patience, but few experiences are as universally frustrating as trying to book an online appointment with extranjería (immigration office). Whether it’s for a NIE, residency renewal, or other crucial paperwork, the process has become a source of stress for countless people. The issue isn’t just about inefficiency—it’s about fairness and accessibility.

The problem is simple: appointments are almost impossible to book. Log onto the government’s official website, and you’re likely to encounter the dreaded message: “No hay citas disponibles” (No appointments available). Refresh the page at odd hours? Still no luck. Try again for weeks on end? You’ll likely receive the same result. For many, this deadlock isn’t just inconvenient; it can delay important life plans, from securing a job to enrolling in health care or registering a child for school.

What’s particularly frustrating is the contrast between the government’s platform and third-party appointment brokers. These intermediaries, operating outside the official system, always seem to have appointments available—for a fee, of course. The going rate for securing a slot ranges from €50 to €300, depending on the service and urgency. This disparity raises uncomfortable questions about the integrity of the system. How is it that private entities can access appointments that regular citizens cannot?

Critics argue that the government’s flawed system is being exploited, either through bots or other questionable means, allowing brokers to monopolize slots. Meanwhile, those who lack the financial means to pay are left scrambling for a rare, elusive appointment. This dynamic creates a two-tier system that undermines the principles of equality and fairness.

While the government occasionally promises improvements to its online platforms, progress has been slow. Some regions have implemented reforms, such as CAPTCHA verification and random appointment releases, but these measures often fall short of solving the deeper issue.

For Spain’s digital government to truly serve its people, it must address the extranjería appointment crisis with urgency. Solutions might include stricter security measures to prevent appointment hoarding, increased transparency about the availability of slots, and the expansion of in-person service options for those struggling with the online system. Until these steps are taken, the system will remain a source of frustration and inequality for those navigating Spain’s immigration and residency processes.

The Scams

Unfortunately, this broken system has also created fertile ground for scams. Websites like citaonline-extranjeria.com and extranjeria-citaprevia.com – two websites run by the same company in Barcelona (AAN Host SL) – exploit the desperation of those trying to navigate the system. Promising quick appointments for a price, these platforms often charge fees without delivering a legitimate booking. Victims are left not only out of pocket but still without the critical appointment they need.

These scams thrive because of the deep frustrations with the government’s online system and the lack of alternatives. Some of these websites even mimic official government platforms, making it difficult for users to differentiate between a legitimate service and a fraudulent one. The situation leaves many feeling trapped: stuck between a dysfunctional public system and predatory private schemes.

If you look at the terms and conditions on these websites they claim to be charging users for information only, and not the appointment. I leave it to your judgment as to whether the screen below makes you think you are paying for an appointment or just for information:

Scam run by https://citaonline-extranjeria.eu/

A Call for Reform

The government’s flawed system is being exploited, either through bots or other questionable means, allowing brokers and scammers to monopolize slots. Meanwhile, those who lack the financial means to pay are left scrambling for a rare, elusive appointment. This dynamic creates a two-tier system that undermines the principles of equality and fairness.

While the government occasionally promises improvements to its online platforms, progress has been slow. Some regions have implemented reforms, such as CAPTCHA verification and random appointment releases, but these measures often fall short of solving the deeper issue.

For Spain’s digital government to truly serve its people, it must address the extranjería appointment crisis with urgency. Solutions might include stricter security measures to prevent appointment hoarding, increased transparency about the availability of slots, and the expansion of in-person service options for those struggling with the online system. Additionally, tackling the growing issue of scams and prosecuting those responsible for fraudulent websites is essential.

Until these steps are taken, the system will remain a source of frustration, inequality, and exploitation for those navigating Spain’s immigration and residency processes.

In an increasingly globalized world, more and more individuals are seeking ways to secure a second passport. Whether for expanded travel freedom, financial opportunities, or a safety net, citizenship by investment (CBI) programs have become a popular choice.

In the Good Life Collective, we frequently discuss second citizenships and residency programs, as many of us are expats who have moved to have a better life for their families and are continuously looking to optimize their situation. One of these optimisations and strategies to future-proof your family’s situation is to obtain a second citizenship.

Here’s an overview of some of the leading options currently available, from Caribbean islands to European nations.

Why Consider a Second Citizenship?

A second citizenship can be a game-changer for many individuals, offering a variety of benefits that go beyond mere travel convenience. In today’s interconnected world, having a second passport can provide access to opportunities that might otherwise be unavailable. Here are some of the key reasons why individuals choose to pursue citizenship by investment:

1. Expanded Travel Freedom: Many CBI programs provide visa-free or visa-on-arrival access to numerous countries around the world. This can be invaluable for business people, frequent travelers, or anyone looking to avoid the hassle of applying for visas. For instance, passports from countries like St. Kitts, Grenada, and Malta offer access to over 150 countries, enabling seamless travel for work or leisure.
2. Financial and Business Opportunities: A second citizenship can open doors to new financial opportunities, including tax benefits, greater banking flexibility, and access to international markets. Some countries offer more favorable tax regimes, which can help individuals and families protect and grow their wealth. Additionally, second citizenship can facilitate easier establishment of businesses abroad, making international trade and investments far more accessible.
3. Political and Economic Stability: For individuals living in politically unstable regions, a second passport can provide an essential safety net. It offers an escape route in times of economic collapse, civil unrest, or changes in government policies. Having citizenship in a more stable country provides peace of mind, ensuring that individuals and their families have a secure place to go if their home country becomes unsafe.
4. Better Quality of Life: Many CBI programs offer access to countries with a high quality of life, including excellent healthcare, education, and overall living standards. Malta, for example, is a member of the European Union, which means its citizens can live, work, and study anywhere in the EU. This can be particularly appealing for families looking to provide better opportunities for their children.
5. Legacy and Generational Benefits: Citizenship by investment can also be passed down to future generations, offering a lasting legacy for children and grandchildren. By securing a second passport, individuals can ensure that their family will continue to benefit from the advantages of citizenship, including enhanced mobility and access to international opportunities.
6. Access to the United States: Some CBI programs, such as Grenada’s, provide access to the United States through the E-2 visa. This visa allows citizens to live and work in the U.S. for a period of time, making it an attractive option for those who wish to maintain ties with the United States or have business interests there. This can be particularly useful for individuals who may have renounced U.S. citizenship but still wish to have a legal pathway back into the country.
7. Tax Avoidance and Wealth Protection (Controversial): One of the more controversial reasons individuals pursue a second citizenship is for tax avoidance or wealth protection. Some countries offer lenient tax regimes with no global income tax, no inheritance tax, or very low capital gains tax. This can be a huge draw for high-net-worth individuals looking to minimize their tax burdens legally. However, this can also draw criticism, as some view these practices as undermining the tax systems of one’s home country. It’s important to carefully evaluate the ethical considerations and the potential legal scrutiny that may accompany such actions.
8. Privacy and Anonymity (Controversial): Another reason that can be seen as controversial is the desire for greater privacy and anonymity. Some individuals acquire a second citizenship to protect their identity, shielding themselves from prying eyes, whether it’s creditors, potential lawsuits, or even the media. While for some, this is a legitimate need for safety, others see it as a way to hide assets or avoid accountability. The anonymity that a second passport can provide may come with moral and legal implications, especially if used to evade legal responsibilities.

Considerations for Families

Citizenship by investment can be particularly appealing for families seeking better opportunities for their children. Many CBI programs allow applicants to include their dependents, such as spouses, children, and even parents, within a single application. This makes it a more economical choice for families who are looking for a comprehensive solution.

A second citizenship can offer children access to high-quality education systems, including international schools and universities, and allow them to grow up in a safer and more stable environment. Additionally, having multiple citizenships can give young family members a distinct advantage as they begin their professional careers, opening doors to internships, jobs, and networking opportunities across different countries.

For families, the ability to live, work, or study anywhere within certain regions, like the European Union, can dramatically increase the quality of life. Malta’s CBI program, for example, allows families to reside anywhere within the EU, which means access to top-tier healthcare and education services for their children. Moreover, passing down citizenship to future generations ensures that your children and grandchildren continue to benefit from increased mobility and broader opportunities.

Case Studies: Real-World Examples

To illustrate the diversity of motivations and benefits associated with CBI programs, let’s consider a few real-world examples of individuals and families who have pursued a second citizenship:

• The Businessperson Seeking Mobility: A successful entrepreneur from a politically unstable country opted for St. Kitts citizenship. The motivation was clear: expanded mobility for business purposes. With visa-free access to over 150 countries, they were able to conduct international business more efficiently, without being bogged down by lengthy visa application processes.
• The Family Seeking Stability: A young family from a South Asian nation chose Malta’s CBI program to secure a better future for their children. Concerned about the quality of education and healthcare in their home country, they wanted to provide their children with access to the best schools and healthcare facilities that Europe could offer. By becoming Maltese citizens, the family gained the ability to reside anywhere in the EU, providing their children with unparalleled educational opportunities and a secure upbringing.
• The Retiree Looking for Tax Benefits: An affluent retiree from North America sought second citizenship in Dominica to take advantage of the favorable tax regime. With no inheritance or global income tax, Dominica offered a financially advantageous environment for managing their wealth during retirement. While Dominica didn’t provide the E-2 visa to the United States, the retiree was more focused on protecting their assets and ensuring that their estate could be passed down with minimal taxation.
• The Investor Wanting Access to the U.S.: An investor from the Middle East, who previously renounced U.S. citizenship for tax reasons, opted for Grenada’s CBI program. The key factor was Grenada’s E-2 visa treaty with the United States, allowing them to re-establish a foothold in the U.S. without fully committing to the obligations of U.S. citizenship. This arrangement enabled them to maintain business operations in America while still enjoying the tax benefits of residing in a more lenient jurisdiction.

These case studies highlight the varied reasons individuals and families pursue CBI programs, from securing a better future for children to protecting wealth and gaining business advantages. Each journey is unique, and the motivations often reflect a combination of personal, financial, and professional aspirations.

St. Kitts

Widely known for being one of the most affordable options, St. Kitts recently increased its cost from $150,000 to $250,000. This small Caribbean island has long attracted those seeking economic citizenship, primarily due to its straightforward process and relatively low minimum investment. St. Kitts also offers visa-free or visa-on-arrival access to over 150 countries, making it an attractive option for those seeking greater travel freedom.

Grenada

Grenada is gaining popularity due to its relatively low cost, which ranges from $200,000 to $235,000. One of Grenada’s standout features is its access to the E-2 visa, which allows citizens to apply for a non-immigrant visa to live and work in the United States. This benefit can be particularly useful for those who may want to re-establish connections with the U.S. after renouncing a previous citizenship. Grenada also offers visa-free access to over 140 countries, making it a strong contender for those seeking global mobility.

Dominica

Dominica offers one of the least expensive CBI programs, requiring a $200,000 donation to its state fund. While it’s the cheapest option among the Caribbean nations, it lacks certain benefits that other countries like Grenada offer, such as the E-2 visa for the U.S. However, Dominica provides visa-free or visa-on-arrival access to more than 140 countries, which still makes it a decent option for those primarily interested in travel opportunities and economic citizenship.

St. Lucia

St. Lucia presents another Caribbean option, with a total investment cost of around $240,000. It is known for its favorable asset protection benefits, providing a secure environment for wealth. However, when compared to St. Kitts or Grenada, St. Lucia falls short in terms of travel benefits, offering fewer visa-free destinations. Despite this, it remains a viable option for those specifically interested in financial security and wealth management.

Turkey

Turkey’s CBI program typically requires a substantial investment of around $1,000,000, as it involves purchasing property worth at least $400,000 and making an additional $500,000 contribution. The high cost means it may not be the most logical choice unless there is a strong personal or business reason to establish a connection in Turkey. However, Turkish citizenship comes with the advantage of a diverse and strategically located nation that bridges Europe and Asia, as well as offering visa-free or visa-on-arrival access to over 110 countries.

Malta

Malta is a popular choice for Europeans looking to secure a second passport. The cost for Maltese citizenship is approximately $660,000, though the price can rise significantly if the residency requirement of three years is not met, nearing $800,000 or more. Malta’s appeal lies in its EU membership, which allows its citizens to live, work, and study anywhere within the European Union. This benefit, alongside its strategic location and excellent quality of life, makes Malta an attractive yet costly option for those seeking European citizenship.

Montenegro

Montenegro has recently changed its requirements for citizenship by investment, shifting its focus toward developmental projects. The standard investment is around €450,000 (approximately $500,000), although a smaller option of €250,000 is available for projects in more remote areas. However, it’s worth noting that investments in government-approved projects often come with inflated costs or additional caveats, making this option potentially less appealing. Despite these drawbacks, Montenegro remains a gateway to Europe, offering visa-free travel to over 120 countries and a relatively fast-track process for citizenship.

Conclusion

When considering citizenship by investment, it’s crucial to weigh the benefits against the costs and the specific needs of your situation. Each country offers different advantages, whether it’s greater mobility, financial security, or the potential for U.S. re-entry through visas like Grenada’s E-2. The advantages of a second passport are significant, from expanded global mobility and financial opportunities to providing a safety net for you and your family. However, the decision can also be controversial, especially when motivations such as tax avoidance or anonymity are considered. Careful evaluation of the residency requirements, associated costs, ethical considerations, and the overall benefits will help in making the best decision for you and your loved ones. The world of citizenship by investment is diverse, offering many opportunities for those looking to expand their global footprint and secure greater freedom.

Have you explored other options? Looking forward to hearing from you in the comments section.