Written by
John Spencer
John Spencer is the founder of Compare Expat Plans, where he focuses on helping people compare health plans for life abroad. He emphasizes clear information, neutral analysis, and practical decision support.
Quick Verdict
SafetyWing
Best for Bootstrapped
Ultra-affordable coverage when you're burning runway on product, not premiums. Month-to-month flexibility matches startup uncertainty.
Learn MoreIMG Global
Best Mid-Stage
When you've raised a seed round and can afford real coverage. Solid protection without corporate pricing.
Learn MoreCigna Global
Best Funded
Premium coverage when investor money allows proper protection. Comprehensive benefits you'd expect from a well-funded company.
Learn MoreSide-by-Side Comparison
| Feature | SafetyWing | IMG Global | Cigna Global |
|---|---|---|---|
| Monthly Cost (35) | $45-56 | $150-300 | $350-500 |
| Coverage Limit | $250,000 | $1M-5M | Unlimited |
| US Coverage | Limited (30 days) | Optional | Optional |
| Pre-existing Conditions | Excluded | Limited | Can be covered |
| Mental Health | Crisis only | Limited | Comprehensive |
| Telemedicine | Included | Included | Included |
| Flexibility | Month-to-month | Annual | Annual |
| Maternity | Not covered | Optional rider | Comprehensive |
SafetyWing
SafetyWing was literally built by startup founders for startup founders. The Nomad Insurance product costs less than a typical SaaS subscription—about $45/month—making it accessible even when you're pre-revenue and watching every dollar of runway.
The month-to-month structure means no annual commitment. If your startup fails (or succeeds and you get corporate coverage), you can cancel anytime. Coverage is basic but covers emergencies, hospitalizations, and even some home country visits—essential when you're bouncing between co-working spaces globally.
Founder Strengths
- • Lowest cost in market
- • Month-to-month flexibility
- • Sign up in minutes
- • Global coverage (190+ countries)
- • Telemedicine included
Limitations
- • $250K limit may be insufficient
- • Pre-existing conditions excluded
- • Limited US coverage (30 days/90)
- • No maternity coverage
- • Basic mental health coverage
IMG Global
IMG Global hits the sweet spot for funded founders who need real coverage but aren't ready for corporate-level premiums. Their Global Medical Insurance offers $1M-5M in coverage—enough for serious medical events that could otherwise bankrupt a young company.
The US coverage option is valuable if you're building in the Bay Area or NYC while maintaining global mobility. IMG's plans can be customized—add outpatient, adjust deductibles, include wellness. You get real insurance without Fortune 500 pricing.
Founder Strengths
- • $1M-5M coverage limits
- • US coverage available
- • Customizable plans
- • Good direct billing network
- • Maternity rider available
Considerations
- • Annual commitment required
- • Pre-existing condition limitations
- • Mental health limits
- • US coverage adds significant cost
Cigna Global
Cigna Global is what you graduate to when you've raised real money and can afford proper protection. Unlimited coverage means no worrying about caps during a serious illness. Comprehensive mental health coverage matters when founder stress is real and burnout rates are high.
This is also the strategic choice if you're planning to hire international employees—Cigna offers group plans that scale. Pre-existing conditions can often be covered after waiting periods, valuable if you've delayed insurance while bootstrapping and now have documented health issues.
Founder Strengths
- • Unlimited coverage
- • Comprehensive mental health
- • Pre-existing conditions coverage
- • Scales to team plans
- • Maternity coverage included
Considerations
- • Highest premiums
- • Annual commitment
- • Overkill for early-stage
- • Complex plan options
Compare Quotes for Your Stage
Get personalized quotes based on your startup stage and coverage needs.
Get Free QuotesWe may earn a commission when you apply through our links. This does not affect our recommendations.
Pricing Comparison
Insurance cost as a percentage of runway matters—here's what to budget:
| Profile | SafetyWing | IMG Global | Cigna Global |
|---|---|---|---|
| Solo founder (30) | $45/mo | $150-220/mo | $320-400/mo |
| Solo founder (40) | $67/mo | $220-350/mo | $450-600/mo |
| Founder + partner | $90/mo | $320-500/mo | $650-900/mo |
| Family (2 founders + kid) | $145/mo | $500-800/mo | $950-1,300/mo |
*SafetyWing is month-to-month; IMG and Cigna are annual. US coverage adds 30-50% to IMG/Cigna pricing.
Startup Founder Priorities
Budget Reality
At different stages, insurance budget varies dramatically:
- • Pre-seed: $50-100/mo is realistic
- • Seed ($500K-2M): $150-300/mo reasonable
- • Series A+: $400-600/mo appropriate
- • Remember: founder health is a company asset
Flexibility Needs
Startup life is unpredictable—insurance should match:
- • Location changes (visa runs, pivots)
- • Income fluctuations
- • Company milestones triggering upgrades
- • Exit scenarios (acquisition, employment)
Common Founder Mistakes
Don't Do This
- • Going completely uninsured to save money
- • Over-insuring and burning runway
- • Ignoring mental health coverage
- • Not reading exclusions carefully
Do This Instead
- • Start with basic coverage, upgrade with funding
- • Match coverage to actual risk exposure
- • Prioritize mental health as a founder
- • Review policy at each funding milestone
Which Is Best For You?
Choose SafetyWing if:
- • You're bootstrapped or pre-seed
- • Budget is under $100/month
- • You're healthy with no pre-existing conditions
- • Flexibility matters more than comprehensive coverage
Choose IMG Global if:
- • You've raised seed funding
- • You need US coverage occasionally
- • $150-300/month is comfortable
- • You want customizable coverage options
Choose Cigna Global if:
- • You've raised Series A or beyond
- • Mental health coverage is important
- • You have or expect pre-existing conditions
- • You're planning to hire international team
Frequently Asked Questions
Can my startup pay for my insurance?
Yes, and it's often tax-advantaged. Many jurisdictions allow health insurance as a deductible business expense. Consult your accountant, but this can effectively reduce your cost by your tax rate. Even pre-revenue startups can set this up properly.
What if I get acquired or shut down?
SafetyWing's month-to-month structure is ideal for uncertainty—just cancel when you get corporate coverage. Annual plans with IMG or Cigna may have cancellation policies; check terms. If acquired, negotiate to maintain coverage during transition periods.
How do I handle insurance for co-founders?
Each co-founder typically gets individual policies at early stage. After raising, consider group plans—Cigna and IMG offer small group options starting at 2-3 people. This often provides better rates and easier administration than individual policies.
Should I include insurance in my fundraising budget?
Absolutely. Smart founders include $5-10K annually for founder health insurance in their budget. Investors understand that a sick founder is a company risk. Many accelerators (like Y Combinator) even mandate health insurance.
Disclaimer: Insurance pricing and coverage details change frequently. Startup circumstances vary widely—this guide provides general direction, not specific advice. Always verify coverage directly with providers before purchasing. This comparison is for informational purposes only.
