PROTECTION FOR YOURSELF AND YOUR FAMILY WHEN YOU LIVE ABROAD

If you live and work abroad it’s vital that you take the right steps to protect your lifestyle, income and family in case the unexpected happens.

In fact, if you have a family it’s essential to make sure that, even if you can’t look after them, you’ve taken steps to make sure that they will have the income they need to live on - and that means arranging the right type and level of life insurance for expats.

If you live in the UK getting life cover is straightforward but it’s not always the case if you’re living and working abroad as many UK life insurers are not prepared to cover expats.

Liquid Expat Mortgages can make arranging cover easy by arranging to find the right policy for you and it’s not just life cover we can help you with, either. We can get you advice and cover for critical illness too, or a combination of them both.

YOUR OPTIONS

Life insurance

This pays a lump sum to your family in the event of death. You can arrange it on a single or joint life basis. Many policies also include a terminal illness benefit which pays out a lump sum if anyone covered is diagnosed with any of a listed range of serious conditions.

Critical illness insurance 

This can give invaluable financial security for you and your loved ones in the event of disability, or the diagnosis of a serious illness. Expat critical illness cover can help to provide an income to cover day to day living costs and can be arranged for both individuals and couples.

Expat life insurance with critical illness cover

These plans are designed for people who need complete security and peace of mind that, whatever happens, they and their family will have the money they need to live.

Important

With all of these covers insurers require full disclosure of previous or existing medical conditions, they may seek confirmation and failure to disclose any material information could result in a claim not being paid so it’s important to check the information supplied.

Terminal and critical illnesses are defined by each insurer whose lists may vary.

The level of cover you select will affect how much of your income can be replaced or what capital expenditure can be made, you will receive advice and help on assessing your needs and the affordability of cover.

COVER THAT CHANGES WITH YOUR NEEDS 

Because most expats have needs that change over time many of the plans we recommend let you increase or reduce the amount of cover and to change how often you pay premiums. Most also let you cancel with no penalty cause, for example if you return to the UK.

We can arrange access to many leading insurers so that you are able to source the best plan that best meets your particular needs.

LIFE INSURANCE JARGON EXPLAINED

Level Term Assurance

This means that premiums are fixed for the full insurance term which you choose and a payment will only be made if a death occurs during that term.

Whole of Life Cover

This is usually the most expensive type of cover because these policies run for life of the policyholder. Many use this type of  over to help towards estate inheritance taxes.

Decreasing Term Assurance

The level of life cover decreases during the insurance term. It can be useful if you want to secure the payment of a reducing debt like a mortgage if you die during its term. It’s less expensive than level term insurance.

Annually Reviewable Policies

These are policies that are reviewed annually. They can be cheap initially but get more expensive as the policy holder grows older.