Understanding Insurance Policies

Posted on: 1 October 2018

If you are a military contractor who is employed to work overseas, then you may be asked to get a special type of insurance. The insurance is called DBA insurance, and you will often need to acquire it before you start working overseas.

What Is DBA Insurance?

DBA insurance is a type of workers' compensation insurance that is specifically meant to protect contract workers who are working for the government in places outside of the United States. The insurance is mandatory based on the Defense Base Act enacted in 1941, and it indicates that individuals in a wide variety of different positions and jobs are required to carry the insurance. 

The DBA insurance must cover you for a variety of different situations and injuries that include disability, general injuries, and even death. It also allows you to see a physician or other professional of your choice if you are injured in some way. 

Since you will be required to sign up for an insurance policy before you start working, your employer will inquire about the insurance coverage and will also make sure that you are covered for the entirety of your employment or contract. The employer will also make sure that you are using the insurance if the situation mandates and you are receiving the appropriate treatment according to your injury or illness. 

Keep in mind that you can retain a waiver for your DBA insurance, but this is only possible if you have coverage elsewhere. Make sure to look into your insurance plan carefully to see if it covers you completely before signing a waiver.

Where Do You Get DBA Insurance?

If you need DBA insurance, then you can purchase the insurance coverage from most major companies within the United States. The insurance coverage falls under multinational insurance coverage, so ask about this with your life or health insurance company. 

You will be responsible for paying the DBA premiums, and the premium can vary a great deal. In general, the cost is based on your compensation and how much you are paid as an employee. Most insurance companies will have calculators to help you figure out premiums if you want to know about how much the insurance will cost you.

Like other types of insurance, you will need to renew your policy yearly. So make sure you are doing this on time so you are covered according to the DBA requirements.

If you want to know more about DBA insurance and how to purchase insurance coverage, speak with an insurance provider.