Grenada insurance: a detailed guide to public and private policies

There is public and private healthcare in Grenada. Primary care is free for both visitors and residents of the country. You can obtain a Grenada passport by investment.

The private sector provides services of all kinds, including primary and preventive care.

Grenada nationals enjoy the compulsory National Insurance Scheme that covers work‑related injuries. If that’s not enough, Grenada residents can buy other policies to ensure their safety outside the workplace.

There are five public and four private hospitals in Grenada and means there’s a medical facility within 5 km of every household in this small Caribbean nation.

Like any other country, Grenada strongly recommends having travel insurance when visiting the island. Visitors engaged in active sports such as scuba diving, surfing, or yachting are advised to have life and health insurance.

The private insurance sector of Grenada has much to offer: there are insurers with offices in Grenada, such as Netherlands Insurance. The company provides insurance for businesses and individuals, including vehicle or vessel insurance.

Primary medical care is provided for free in Grenada. Public healthcare is state-funded and supported by taxation and foreign grants.

Grenada healthcare system

Nationals, legal residents, and visitors of Grenada can get free primary care in one of the three government-run acute care hospitals. They provide 24-hour emergency care, surgeries, dental care and other procedures.

Patients might still be required to pay small extra fees for support services, but children, older people, and the impoverished are usually exempt from paying any fees.

Grenada does not have public health insurance. However, it has a compulsory National Insurance Scheme that covers work-related injuries — but only for Grenada nationals.

According to the website of the National Insurance Scheme of Grenada, all employed and self-employed persons in Grenada are obliged by the National Insurance laws to contribute 5,5% of their gross earnings to the Scheme.

St George’s University School of Medicine is famous for quality education outside Grenada: the School accepts students from other countries, including the USA, the UK, and Canada. The School’s graduates often obtain US residence and work in the States.

The biggest hospital in Grenada, St George’s General Hospital, is on the campus.

Private medical insurance in Grenada is a common option since the country does not provide public healthcare. Private insurance significantly reduces expenses on private clinics’ services: paying out-of-pocket would be more expensive.

Although having private health insurance in Grenada is not mandatory, having an extended policy will not hurt — public facilities might be unable to provide services outside primary care.

The Caribbean islands have a network of medical facilities. If a patient cannot be treated in Grenada, they can be sent to another island or even the United States. Private insurance can include coverage in case of airlifting.

When choosing private health insurance for Grenada, consider the minimum coverage according to international standards. Your policy should cover at least $50,000 of healthcare expenses. International insurance packages typically include the minimum coverage and primary risks.

Insurance plans are tailored to the needs of an insured person and prices are calculated individually.

There are four private hospitals in Grenada. Check in advance what medical facility is the closest to you.

Individual cost calculation for Grenada citizenship

Get the cost calculation

Before travelling to Grenada, consider taking out appropriate travel insurance covering all your stay days.

Travelling on medical grounds can be expensive — check if your policy covers evacuation to other Caribbean islands, another country, or your home country.

If you plan on participating in active or risky sports, include possible risks in your coverage. Since Grenada is in the Caribbean Sea, visitors should take precautions related to swimming activities.

Grenada travel insurance should also cover injuries and damage caused by hurricanes, earthquakes, and volcanoes. Local authorities observe the activity of hurricanes and underwater volcanoes and provide instructions in case of an emergency.

Pre-existing medical conditions are also essential to consider and declare to your insurer. Most countries of the EU require a minimum coverage of $50,000 for emergency medical expenses.

Life insurance in Grenada can be useful for visitors who engage in risky activities; for example, diving to see Grenada’s famous Underwater Sculpture Park. Divers are recommended to have life and travel insurance with a minimum coverage of $100,000.

Life insurance cost is calculated individually; it depends on the insured person’s condition and the risks included.

For those who do not engage in active sports, life insurance coverage can be less — between $25,000 and $50,000 per insured person.

During rainy seasons, there is a higher risk of infection with the Dengue virus in Grenada through a mosquito bite. Consider adding this risk to your life or health insurance.

Insurance companies provide special packages for expats in Grenada. These packages are tailored to the needs of an expat and their physical condition and typically include health, life, and travel insurance. The cost of an expat insurance package is calculated individually.

If you work in Grenada, you already pay 5,5% of your gross earnings to the National Insurance Scheme that covers work-related injuries. So when choosing expat insurance, you can exclude this service and save some money.

Custom expat insurance is usually more affordable and beneficial: it can be cheaper than multiple separate policies and cover long-term visits to Grenada.

Grenada attracts expats from all over the world due to its citizenship by investment program. Expats can work and live in Grenada and enjoy the benefits of a Grenada passport.

How the Grenada passport can make your travels simpler and eliminate the need for visas

Car owners should have car insurance to protect themselves and third parties from damage. Basic car insurance policies typically cover damage and injuries caused to third parties.

Extended car insurance often covers damage caused to the car owner and their vehicle. The minimum coverage depends on the car and services included. Generally, it is recommended to have $25,000 per person injured and $50,000 per possible road accident.

Homeowners can ensure their property’s safety by buying private home insurance packages. These packages usually include all possible risks, such as damage caused by natural disasters.

There is a hurricane season in Grenada that lasts for two calendar seasons, from June to November. Protect your property from unpredictable damage with housing insurance.

Most insurers provide policies that cover damage caused by fire, lightning, flood, hurricane, tornado or earthquake.

Housing insurance in Grenada can also include coverage for burglary and housebreaking.

The price of a policy depends on the value of housing. The more expensive property is, the more an owner will have to pay for insurance. The average housing insurance price in Grenada is $100 a month.

If you plan to buy property in Grenada, consider buying home insurance. Extended policies often include coverage for content inside a house — in case of a hurricane, insurance covers housing and damaged personal belongings.

Examples of properties in Grenada

Grenada, Saint Davids

$270,000+

Share in a modern SPA complex resort

Grenada, St. George's

$270,000 — $350,000

Share or apartments in full ownership in an oceanfront university complex

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1

Grenada, Saint Davids

$270,000+

Share in a new resort complex managed by the Intercontinental group

Grenada has a citizenship by investment program — to qualify, an investor should be over 18 years old and with no criminal record. They also should confirm the legality of their income.

An investor can obtain Grenada citizenship in two ways:

• contribute at least $150,000 to the National Transformation Fund;

• purchase a government-approved property for more than $200,000.

The contribution to the National Transformation Fund is non-refundable. The property investment can be returned in 5 years.

Family members can be included in the application; a spouse, financially dependent children under 30, and financially dependent parents can obtain Grenada passports along with the principal applicant. Investor’s siblings over 18 with no spouse or children also qualify.

Holders of a Grenada passport enjoy these 5 benefits:

1. Travelling visa-free to 146 countries. The list includes the UK, the Schengen Area, Singapore, Hong Kong, and China.

2. E‑2 business visa to the USA. Grenada citizens can work and live in the USA with an E‑2 visa. The visa requires $100,00 of investment and establishing or buying a business in the US.

3. 10-year tourist visas to the USA. Grenada citizens can obtain a US B‑1/B‑2 long-term tourist visa.

4. Tax optimisation. Companies registered in Grenada do not pay taxes on global income outside Grenada.

5. No exams to get a passport. Investors do not have to pass any exams or reside in the country to obtain a Grenada passport — the procedure is remote.

1. A National Insurance Scheme of Grenada is available for Grenada nationals. You can get Grenada citizenship by investment.

2. Grenada has one of the best healthcare in the Caribbean. There are five public and four private hospitals in the country. Every household has a medical facility within a 5-kilometre radius.

3. Private health insurance is a good option for expats in Grenada. It can significantly reduce expenses on services in private hospitals because paying out-of-pocket can be a lot more expensive.

4. Life insurance in Grenada is a good idea for those who do risky sports. Divers, surfers, and yachters are recommended to have life and travel insurance with a minimum coverage of $100,000.

5. Expats in Grenada can live and work in the country and enjoy the benefits of a National Insurance Scheme. Grenada offers a citizenship by investment program. Investors can get a Grenada passport by contributing at least $150,000 to the National Transformation Fund or purchasing a government-approved property for more than $200,000.