Do you have Life Insurance? Do you ever wonder what will happen to your family if anything ever happens to you? If you do have Life Insurance, you don’t need to ask yourself questions like that. The problem is not everyone has life insurance. Many don’t even see it as an option because they think it is too expensive or too cumbersome. However, that isn’t always the case. There are plenty of ways to secure your family without going broke.  

What are my Options?

There are two types of Life Insurance, Temporary and Permanent. Temporary Life Insurance covers you for a period of time such as 5 years, 10 years, etc. If you should pass away within the term, your beneficiary will receive the death benefit. Permanent Life Insurance covers you for your entire life. So, no matter when you should pass away, your beneficiary will receive the death benefit. Also, for either type of life insurance, the death benefit will pass to your beneficiaries, income tax free.

Permanent Life Insurance

Permanent Life Insurance covers you for your whole life. You should purchase Permanent Life Insurance if you have a life-long dependent or have an estate or business to protect. In some permanent plans, your money may collect in an account, and after a number of years, you may be able withdraw money, borrow cash, or surrender the policy and receive the surrendering value.

Temporary Life Insurance                        

Temporary Life Insurance, also known as Term Life Insurance, is a good option if you would like to have coverage for a certain period of time. On some temporary plans, you can be approved without a medical exam and in just a few days. Usually an individual will have this coverage during the most vulnerable time of their life. For instance, until the kids are grown and graduated from college, or your house has been paid off. The premiums are lower than the premiums of a permanent life insurance plan. One downfall of this type of plan is that it does not pay a death benefit if you outlive the term of the policy. You may be able to renew your plan once it expires, but your premiums will be substantially higher. There is another type of temporary insurance that refunds your money at the end, if you outlive the term of the plan. This is called a Return of Premium policy and may be a good option to consider.

Not Going Broke

“So how do I purchase Life Insurance without going broke?” First off, there are a number of factors to determine which plan is right for you and which plan you can afford. But in general terms, the route to go would be purchasing a Temporary Life Insurance policy. As stated before, the premiums are less than those of a permanent policy, and your family or dependents will also be protected during the length of the term.

Not for Everyone         

Buying Life Insurance is not for everyone. There may be no need to purchase it if you don’t have any dependents and have enough assets to cover your debt and the cost of dying. Death can very expensive, having to pay for the funeral, estate lawyer’s fees, etc. So, if you are unsure about the need to purchase a Life Insurance Plan, or would like to purchase one, please contact us. We would be happy to assist you with all of your questions and concerns.

Call MHG Insurance Brokers today at 954-828-1819 or visit us online at mhginsurance.com for help in selecting Life Insurance and other coverage to ensure you and your loved ones have the protection you need at every stage of life.

Let’s face it, traveling for business can be stressful. From packing and putting the final touches on your presentation, to worrying if you’ll make your meeting on time, there is a list a mile long of different scenarios, to-dos, and unexpected events that are sure to raise anyone’s blood pressure! Travelling internationally can add an additional layer of stress as well! With so many things on your mind, the last thing you need to worry about is uncertain travel details and what-ifs. Having a proper travel insurance plan can help ease that stress and let you focus on having a successful meeting.

The Unknown

People traveling abroad for business should have a good travel insurance plan for many reasons, especially for the unknown. Emergencies can happen anywhere, anytime, and most of the time there is no way to prepare for them, especially when you’re out of the country. Suppose you get into an accident and need emergency medical attention? Maybe second nature made you drive on the wrong side of the road, not being used to the driving laws of another country.

There are many other scenarios that can happen requiring emergency medical attention. Obviously, this is just one reason to get travel insurance no matter if you are traveling for business or leisure. Another unknown factor that you cannot prepare for, yet is very common when traveling abroad, is food poisoning. Food poisoning, unclean water, parasites, and changes in diet make gastrointestinal issues one of the most common medical threats that travelers face. Without travel insurance in place, expenses for treatment can be costly.

Trip Cancellation

It could be a waste of money if you don’t have travel insurance with trip cancellation coverage. For those that think it doesn’t happen, what if there was an unexpected storm that cancelled your flight? There are a plethora of reasons that a trip can be cancelled, and not many reasons why you shouldn’t have coverage for it, even for business trips.

24 Hour Assistance

Being in a foreign country can bring a lot of questions. Not knowing where to go, who to talk to, how to talk to them, etc. Having a 24/7 assistance line can give you peace of mind, once again letting you focus on your work, which is the most important part of a business trip. Also, many times when people travel for business, they are traveling alone. Knowing that you have someone to back you up and be there for you when in a foreign place can make things much easier on your mind as well.

Having proper travel insurance can help to limit your distractions and help you to have an efficient and successful business trip. Maybe having an eased mind will allow you to enjoy some of the sites while you are there! If you have any questions about your travel insurance plan, or are interested in purchasing a travel insurance plan for your next business or leisure trip please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. MHG has the insurance specialists to assist and advise you, your loved ones, group, or business, on all of your insurance needs. Safe travels!

Are you in the market for a new home? If so, there are some important things you should be doing to prepare yourself, before and after your purchase. First and foremost, buying a home is one of life’s greatest financial accomplishments. Getting approved for a mortgage is a daunting task, and those 30-40 days of the approval process can feel like a lifetime. However, once you sign those closing documents, you feel a sense of pride and joy that you were able to whether the storm, and now you can start this next chapter of your life as a homeowner! Now, just because you are done with the paper work, doesn’t mean you shouldn’t be thinking of steps you need to take in order to protect your investment. Life insurance can do just that and provide all of the coverage you need given your newly acquired asset.

Before Buying a Home

Purchasing a home is a major life decision, one that comes with an enormous amount of planning, budgeting, saving, and often forcing one to make lifestyle changes in order to be able to complete the action. If you aren’t required to have a lump sum of money to use as a down payment, count your blessings. However, no matter what route you go, it will be a challenge if you don’t have a good credit score.

Once you have your strategy in place in terms of the type of loan you are going to use, the down payment amount, and a good enough credit score, the fun part will begin. Ask anyone who has gone through the process of getting approved, and many will agree it is one of the more stressful experiences someone can experience.

After Buying a Home

So, you’ve made it to the finish line, you are officially a homeowner! Now what to do? Before you start to think about investing into your property, fixing the kitchen or adding a pool, you need to think about investing in yourself and your loved ones. You’ve just gone through an extensive process and have probably taken on an extreme amount of debt. What happens to that debt or the responsibility of paying it off if something happens to you?

A life insurance policy is a critical necessity for anyone who has debts they do not want to leave to their loved ones. Do yourself and your family a favor and protect your new investment. For example, if you just bought a house with a 30-year mortgage that was $250,000, for starters you may want to consider a 30-year term life insurance policy with a $250,000 benefit.

Preparing for the Future

The strategy of protecting your investments and assets with life insurance is something that you should be using in every facet of your life, not just when buying a home. Especially if you have a family or dependents. If you are not sure the amount you need, the type of policy to get, or what you can afford, our insurance specialists are here to help!

MHG is here to assist you and offer any advice and help we can in this exciting time in your life. If you are interested in purchasing health insurance, life insurance, or have any questions please contact us today at 954 828 1819 or visit mhginsurance.com. We have the insurance specialists to guide and assist you in finding the best insurance options for you, your family, and loved ones.

Let’s face it group insurance plan comes at a price, and there is a reason many smaller businesses with less than 50 employees elect not to offer a group plan since it is not required. However, not having a plan in place immediately makes your business less competitive when it comes to attracting the best talent to help you succeed. So, what if I told you that there are several options out there that can help you save money when it comes to offering your employees insurance benefits?

Fully-Insured vs. Self-Insured/Level Funded

Most groups with less than 100 employees are covered through Fully-Insured plans as it is the most traditional method of coverage. The premium paid to the insurance carrier is a fixed rate for the year based on the number of employees enrolled. The carrier is responsible for paying all claims while the covered member is responsible for paying copays, coinsurance and deductibles based on the plan benefits. Fully-Insured rates are based on the demographic make of the group (census), changes to that census, comparative rates within a geographic area and industry, and to a smaller degree the claims experience of the members. Any group with 2 or more employees will qualify for Fully-Insured plans (Groups with two employees cannot be a married couple).

Level Funded plan options are becoming increasingly common as more carriers are offering them, and more employers are seeing the advantages. Let’s be clear, not all groups qualify; acceptance is mainly based on the employees’ medical claims history, and carriers require a minimum participation higher than Fully-Insured. Level Funded plans are filed with the Department of Financial Services as “Self-Funded”. A true Self-Funded plan has an arrangement where the employer provides health care to the employees using the company’s own funds. Level Funded follows the same concept, but there is a stop loss in place for each employee on the plan to prevent any liability for the employer. A portion of the premium paid on a Level Funded plan is saved in a funding “pool” which is used to pay claims. After an employee uses a certain amount of the claims fund (amount varies depending on the carrier) stop loss kicks in and the carrier takes over the payment of claims for that employee for the remainder of the year removing that exposure from the employer’s remaining funding pool.

What Are the Advantages of Level Funded?

On average a business spends 7% to 9% of its budget on employee health care. If your group qualifies for Level Funded plans, it is possible that the rates may be better than Fully-Insured when comparing similar plan options. Yes, you can get money back at the end of the year! Carriers typically offer the group a specified percentage of the unused amount left from your funding pool at the end of the year. The reimbursement percentage varies depending on the carrier, and in some instances can be as much as 94%, which can be a significant amount. Carriers may also include additional features on a Level Funded plan not included on Fully-Insured options.

Are There Any Shortfalls on a Level Funded Plan?

Level Funded plans follow the federal mandate as it relates to continuation of coverage. Groups with 20 or more employees will be eligible for federal COBRA. Most Level Funded plans will not administer State Continuation (mini COBRA) for employers with less than 20 employees, this means these employees will not be eligible to continue coverage upon leaving employment.

Another area that may affect some employees is dependent coverage. In some states, such as Florida, Fully-Insured plans will allow dependent children to be covered up to age 30, while Level Funded plans will remove dependent children at age 26, which is the federal mandate. In addition, some benefits offered on Fully-Insured may not be offered on Level Funded.

What Option Is Best for Me?

MHG Insurance Brokers comprises of a team of experts who specialize in group insurance. We have unique relationships with carriers and are sometimes the first to know the plans they offer. We have a 5-star Google review rating, and an outstanding 96% client retention rate in the Life and Health Division (Employee Benefits). Our team of experts can complete a full analysis of your current plan’s offerings, and if needed, recommend a package that will enrich your benefits while keeping cost at a minimum. If you do not have a group plan in place, we have you covered! Our team can provide a proposal for your group which may be less than you anticipate. If you are interested in purchasing health insurance, feel free to contact us at 954-548-3599 or visit our website at mhginsurance.com.

Each year at SeaTrade we reminisce about how much cruising has grown since its inception, but this year, the industry is on the cusp of one of its most massive growth spurts yet. In addition to the ongoing and constant introduction of new tonnage by the mass market heavyweights, this year multiple new players are about to introduce ships into service in the premium, luxury and expeditionary cruise sectors. Cruising always offered different options to the public however the pending industry growth and expansion of riverboats, luxury, expedition and other cruise experiences means that the future of cruising is all about diversity.

The technology, innovation and imagination of the industry continues to startle and amaze. Cruising has moved beyond baked Alaska, buffets and shuffleboard to tattoos, rollercoasters and polar expeditions! Indeed, today a cruise exists to suit every preference and (almost) no destination is out of reach. The wealth of cruising options available to the public is immense. Big ship, medium ship or small ship? Alaska, Asia, Europe, Galapagos, Antarctica or a world cruise? Family fun, reunion or romantic getaway? Theme cruises? Broadway and Vegas style entertainment? The cruise industry continues to diversify and grow and so does the consuming public’s choices and options for cruise experiences.

Notwithstanding all the enticing bells, whistles, gimmicks and innovations, every new cruise ship still requires officers and crew to serve its guests and safely operate the vessel. As cruise industry technology continues to advance, the need for certain specialized training amongst the crew increases. Training and investing time to educate crew is not an inexpensive matter. For every new LNG powered vessel and innovative technologies in bow thrusters, propulsion & emission systems mean additional training and certification amongst the crew is needed. The newest generation of cruise ships crosses the spectrum of small mega-yachts to multi-thousand passenger-ships akin to a small city. For a seafarer, this diversity implies totally different work spaces, conditions and operations, thus different training.

With the expansion of the luxury sector, this creates a demand for crew that can provide superior service. Luxury brands tend to attract a repeating loyalty base of customers who acknowledge and expect consistent superior service. Many luxury operators focus on the guest-crew ratio, aspiring towards one crew member per paying guest. However, this means that these seafarers must often do multiple tasks to make up for the lack of other crew. Not every crew member is capable of delivering high-end 5- or 6-star service. To this end many luxury operators have their own schools or programs devised to provide specialized service training for certain crew to meet the high demands of its customers.

Perhaps the biggest pending expansion in the cruise industry is within the expedition sector. Traditionally these types of voyages were entirely destination driven but bare bones minimal so far as service and cuisine. The new expedition ships boast 5- and 6-star service complete with helicopters, submarines, decompression chambers and expedition leaders. The high degree of technology, service & innovation encompassed in these new vessels combined with specialized polar navigation rules and remote, isolated and longer itineraries implies a further need for specialized training and certification amongst crew.

All the above implies that as the cruise industry continues to grow and diversify the training and education of seafarers will also diversify and as a result continue to be more complex and costly. Accordingly, cruise operators should look to protect the substantial investments they are making in their crew in order to train them for these diverse cruise experiences. The LNG engineer, the personal butler and the expeditionary team leader are all seafarers, each with a unique skill set relative to the vessel they are employed on. Having to replace any of these jobs can be challenging. Accordingly, each of these crewmembers should be viewed as an asset to be protected and retained.

As part of any employee retention strategy, the offering of employee benefits should be highly considered. Indeed, many existing cruise companies have taken their obligations under the Maritime Labour Convention (2006) seriously and already provide some crew with a basic benefit package that includes insurance and retirement account(s). The new entrants into cruising should definitely take note. The diversification of the industry will require diversification of crew. Competition for competent and diverse crew will only increase over time but providing a menu of benefits to your crew can help to ensure that they remain happy in the job, and able to contribute to the company’s future successes.

MHG offers a diverse package of benefits for seafarers. Come and see us at Seartrade, Booth 2349!

The cruise industry has always provided an amazing opportunity for those looking to travel as well as expand their career to something different from the norm. However, seafarers don’t simply step onto the gangway and into a job. A cruise operator must place substantial time and expense in sourcing, recruiting and training of its seafarers.

With the cruise industry currently on the verge of a massive expansion over the next 5-7 years, sourcing, recruiting, hiring, training, and ultimately retaining quality competent and qualified crew will be a critical factor for the successful cruise operator going forward. At last count, there was a minimum of 125 new cruise vessels on order. Remarkably, this growth expands across the spectrum of this industry, ranging from gigantic mass market behemoths to small, medium sized, luxury and expeditionary vessels. Accordingly, a conservative estimate of new seafarers to be sourced, hired, retained and required to crew this influx of diverse vessels is upwards of 150,000. With all this growth, and new cruise ships of all types and designs on the horizon, what steps have you taken to get yourself ready?

Crew Will Require More Specializations Than Ever Before

Not only will a plethora of new crewmembers be required, but the future of the cruise industry will entail more advanced crew specialization, including sectors that have never been seen before. The evolution of LNG (Liquid Natural Gas) power will necessitate new specialized technical education and training for engineers. Up to 40 new luxury vessels (and counting) implies a need for staff with a higher level of white glove, concierge service experience. The over 28 new expedition class vessels will look to combine LNG technology as well as luxury service, which will result in crew that may need to be specialized in several different areas to keep onboard staffing as low as possible given the smaller capacity of these ships. In short, the cruise industry overall will need to recruit, train, and retain a new generation of specialized seafarers.

How to Set Yourself Apart from the Competition

Retaining the best crew in the wake of industry expansion will only become more of a challenge as the demand for quality specialized crew becomes more competitive. Thus, having a long-term strategy in place for employee attraction and retention will be imperative. A happy and contented crew results in higher productivity, less turnover, and as a result, hopefully, increased revenue.

There are many factors that affect overall job satisfaction: working conditions, opportunity for advancement, workload & stress level, co-workers & management and of course financial reward. Increasingly though, financial reward cannot be limited to just money in the bank at the end of the month. The solution lies in an integrated employee benefits package; and this package takes on an increased level of importance as it not only affects the officer or crew member but potentially their dependents as well.

MHG Insurance offers different insurance solutions for many areas of business. Our years of experience in working with the marine industry can assist you in maximizing the overall value that a solid benefits package brings to the table. If you would like to discuss a rolling benefits strategy, or are interested in purchasing marine crew insurance, contact us at mhginsurance.com or call us at +1 954 828 1819 or +44 (0) 1624 678668. Our insurance specialists have the knowledge and experience to assist and guide you to the best coverage for your budget. MHG Insurance will be at Seatrade Miami this year! Come see us at booth 2349!

Did you know MHG Insurance Brokers is offering Tour & Excursion Operators Legal Liability insurance, also known as Shore-Ex Insurance? Here’s more about our program.

The Basics

Shore-Ex Insurance is a package contingent liability program designed specifically for tour operators seeking to work with the cruise line industry. Depending on the nature of the business itself, the program offers three principal lines of insurance coverage that address the exposures of the operation in question.

1. Commercial General Liability- Responds to suits brought against you by third parties on the grounds of bodily injury and/or material damage caused by your negligence.

2. Contingent Watercraft Liability- Provides excess insurance coverage that sits on top of an underlying Protection & Indemnity (P&I) policy thereby increasing your overall limit of insurance.

3. Contingent Auto Liability- Provides coverage over and above any locally placed Commercial Auto policies for liability arising from the operation of your motor vehicles.

Highlights

· Includes worldwide jurisdiction, satisfying cruise line requirements.

· Limits up to $5,000,000 available.

· ‘A’ rated insurance carrier.

Types of Excursions / Tours that are Covered

The Shore-Ex policy offers coverage for a wide variety of excursions and tours. Whether your company offers sightseeing, scuba, paddle boarding, parasailing, ziplining or ATV tours among other activities, we can help!

We Work for You!

Let us focus on your insurance so you can get back to running your business. Even with the best intentions, accidents happen and it is important to have the proper insurance coverage in place to appropriately cover the day-to-day risks that you face. As a trusted partner of the cruise lines, we have been providing insurance advice and guidance to the cruise industry for over 25 years. Not only do our dedicated insurance specialists have the knowledge and expertise to pair you with the right policy, but our team consists of staff who were once underwriters for Tour & Excursion Operators Liability and who ran shore excursion companies worldwide. Whether you are setting up a new business and purchasing a policy for the first time or already have a policy in place, we can help.

Having proper insurance is important in every aspect of life. Here at MHG Insurance, we offer a variety of different solutions for many industry sectors. From Yacht Crew insurance, Property & Casualty, Ocean Marine insurance to Individual and Group Health insurance, even Life Insurance, we offer a comprehensive suite of tailored products to protect you, your family and your business. If you are interested in purchasing a Tour & Excursion Operators Legal Liability Policy, or simply need some more information contact us at mhginsurance.com or call us at +1 954 828 1819 or +44 (0) 1624 678668. Our team of brokers have the knowledge and experience to consult with you on the best coverage for your budget, and can also assist you with any insurance questions you may have.

Bon Voyage! It’s time to set sail on your dream career, and it may not have been one you originally considered!

Working as a crew member on a superyacht can be a very fulfilling job. At one point it was considered a job that you can do for a few years while you are young before settling down, and make/save as much money as you can before transferring to a position on shore. However, things are changing, and changing fast. More and more individuals are considering becoming a superyacht crew member as a career choice, find out why.

See the World

One of the most popular reasons people consider becoming a crew member because it is a means to see the world. Scratch that, get paid to see the world. How many jobs do you know of that pay you to travel to some of the world’s most beautiful locations?

Becoming More Appealing

Through the years, there have been more legislation and maritime laws put in place to make becoming a crew member more appealing. Many of the laws protect crew and require owners to provide insurance coverage and other benefits to crew, making the position more attractive.

Professionalism

Working onboard a yacht now often requires an extensive level of professionalism. There is much more to it than helping to keep up a boat while getting to sail around the world. You are serving guests who are paying for and expecting a high level of class and service, and the yachts are becoming more and more sophisticated. If you go through all the training, then there’s a good chance you will want to make it a long term career.

Room for Growth

There are many different positions on a superyacht crew. From Deckhand, to Captain, there are plenty of opportunities to move up the ladder. Yachts are being built every day, and those new positions must be filled by someone, preferably with some experience.

Great Compensation

Superyacht crew members can make a great salary. The amount of money you make usually coincides with the size of the yacht you are working on. Not only is the money great, but while working onboard you can save a large portion of it because you won’t need to spend much while on a yacht. You live on the vessel, so there is no rent, and your food is normally also covered.

While the money may be great, there is a catch. You will be required to be away from home and/or your family from home for long periods of time. This may be why a career choice is often for those who are single.

Highly Specialized Field

Anyone can become a crew member, but no one can become one overnight. Working onboard a yacht can require you to have training that is highly specialized. Whether you are the person setting the tables, or the person cooking the food, there are training and classes one must take before working at sea. Depending on the position, you may need a combination or training, licenses and certificates, and practical experience.

There are many reasons why being a yacht crew member is a great career choice, however it is a big decision to make. It will require a lot of dedication and commitment, so do your research in order to assure that this is the career of your dreams.

Having proper insurance is important whether you are at sea or docked at a shipyard. MHG is your specialized broker when it comes to crew insurance. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing, or have any questions about yacht crew insurance or travel insurance, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com.

Have you ever wanted to work on a yacht?

Being part of a yacht crew can be a fulfilling career experience. Getting to travel the world, sail the open seas and meet new people, are just a few of the many benefits of joining a yacht crew. From first glance, it seems like a no brainer, this profession may be one of the best career paths you can choose. However, there are further assessments one must take when looking into a new position. That goes for those who are looking to get into the profession, as well as those who are currently part of a crew that are looking to jump ship. Follow these tips to help you decide what you should be looking for in a new yacht crew position.

Don’t Just Look at Money

Have you ever heard the saying, “Cash is king!”? Making money in life is important, but it isn’t the only thing you should be focused on. Your happiness is as important as making money. Don’t let salary be your only motivator when looking at a new yacht crew position, or any job for that matter.

Check Out the Itinerary

For some, the itinerary of a yacht is an important dictator of whether they will want to fill a position on a certain yacht. There are parts of the world that some do not want to visit for personal reasons, and there are some who may have spent a large amount of time somewhere and want to see a different part of the world. Just remember that itineraries can easily change, so be flexible and consider all the factors before deciding.

Don’t Be Seasonal

Depending on where you’re located, the yachting business can be very seasonal, with some parts of the year being busier than others. But just because it may be a seasonal industry, doesn’t mean you should be a seasonal worker. Yacht captains like to hire individuals who have proven longevity and commitment. If you are looking for a seasonal job, you may need to look elsewhere.

More than Just a Job

Working as part of a yacht crew is more than just a job, it’s a lifestyle. Being away from family for months at a time and living in close quarters with others for long periods is not for everyone. It’s clear to see how it may be taxing for those who are not fully committed. There is a lot to be sacrificed, however the rewards can be well worth it.

Benefits are Important

Sometimes, the benefits that are offered by a job can be just as important as the income. That is because those benefits will have a variety of different coverages depending on the program the yacht has for the crew. When looking at a new position, you must try to make it a priority to review benefits such as health insurance coverage, disability insurance, life insurance, etc. That’s just one area where MHG is here to help!

Having proper insurance is important whether you are at sea, or docked at a shipyard. MHG is your specialized broker when it comes to crew insurance. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing, or have any questions about yacht crew insurance or travel insurance, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com.

Working onboard a superyacht can be a very fulfilling job. You will probably receive great benefits, have unforgettable experiences, and develop lifelong relationships. While there are many positives to working on a yacht, there are still aspects of the job that can be quite taxing on someone, and make them consider transitioning to a job onshore. If you find yourself wanting to settle down, and have a more stable position, the following is a list of things you need to consider when transitioning from a yacht crew member to working a 9-5 job!

Pay

Wages for yacht crew members are unique to each position. Crew members can make anywhere from $25,000 per year to upwards of $250,000. If you have been part of a yacht crew for an extended period of time, and worked your way up the ladder, there is a good chance that when transitioning to a corporate job, you will be making less money than what you have become accustomed to working onboard a yacht.

Expenses

Something else that must be considered by yacht crew who are transitioning to a 9-5 job is the additional expenses that you are going to incur. While working onboard a yacht, you don’t have to worry about expenses such as rent, car payments, grocery shopping, etc. These are expenses that are sometimes unavoidable in order to live. Also, many times people assume the cost of living is a lot less than it actually turns out to be in the end.

Work Environment

The work environment in an office is much different than on a yacht, so you may experience a bit of a culture shock. While working on a yacht, you are usually on call 24/7, and much is expected of you. Go above and beyond to keep guests happy, as they are usually paying top dollar. While you should still go above and beyond in any workplace, working in an office won’t require the same demands. For example, if something is broken on the vessel, you may be required to get your hands dirty and do some physical labor. Working in an office typically doesn’t require much physical labor.

Rules

Rules are rules, and they are not meant to be broken if you wish to have a successful career. An office setting has different rules than a yacht. There are privacy laws regarding clients, privacy laws regarding colleagues, local government laws that must be followed, possible federal ones, and everyone’s favorite, HR. Working in close quarters allows people to become close and maybe develop special relationships that may be inappropriate for the corporate world.

Benefits

The employee or job based benefits that people get working in corporate positions are different than those of people working on a yacht. For one, many places only cover 50% of your health insurance, while onboard a yacht it is usually covered 100%. Also, most jobs will offer some sort of retirement planning program like 401K that you can use to prepare for retirement.

Something to keep in mind if you are working for the United States for the first time is that the U.S. does not have socialized healthcare like many European countries do.

Having proper insurance is important whether you are at sea, or docked at a shipyard. MHG is your specialized broker when it comes to crew insurance. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing, or have any questions about yacht crew insurance or travel insurance, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com.