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Any expats with UK life insurance?(17 Posts)
We're moving this summer and I am having a hell of a job getting life insurance because apparently my nomadic lifestyle makes me a higher risk. But others must have faced this and found a solution. Can anyone here recommend a sympathetic company?
dh is resident in UAE and is in the process of getting UK life insurance - he had to have an extra (pointless) medical and quite a few companies wouldn't touch him but his financial advisor has got him a policy with Royal Liver
We've got life insurance with Norwich Union (or whatever they're called now). We had it for some years before moving, and they were quite happy for it to continue when we moved to Switzerland, as long as we were keeping a UK bank account to automatically pay the premiums.
We are british expats living in KSA and have our life insurance via Scottish Equitable. Got it via a broker called Chase Devere - email email@example.com HTH
DH says it tool a lot of chasing around to find someone to insure us
Thank you so much to all of you for replying; off to research these options.
I tried the email addy from mumoverseas but it is now invalid. Phoned chase de vere and they won't even talk to me as we are not on UK soil
Has anyone else got recommendations please?
We have life insurance through Lutein (I think). Arranged by Bellwood Prestbury, google for their website. We arranged it while we were overseas too.
We had policies with Friends Provident and Scottish Provident, arranged through an expat IFA where we were living. Depending on where you are, you could try asking other expats if they have a reliable financial advisor, or there are some companies specialising in expat cover, eg William Russell (I haven't used them myself but it's a name I remember hearing mentioned for this kind of thing).
If you are an expat yuo will pay more since the risks of dying will be higher especially if you live abroad in certain places. There are companies in the Uk that insure expats and you can google them but as an IFA I have found it quite hard to get life assurance for UK residents who move overseas.
Blame, where are you moving too?
We have insurance with Norwich Union, took it our before moving, they are happy we are no longer in the UK, each time we've been abroad to live rather than on holiday, that's covered Pakistan and Russian, we've been obliged to tell them, plus we've been working outside the UK since 2004 in France and Belgium, even when still living in the UK, they were happy with that risk too.
We've got a few months to go of our term assurance, we'll soon find out if it is hard to renew, now that we are more permanently abroad. We're still paid from the UK, so fingers crossed the "abroad" won't make a difference.
Mmm we were thinking of getting this- i know this is a bit of a silly question but roughly what kind of monthly payment is it for lower cover- if you start it in your mid 30's. My husband has only 3 years salary from his company and i was thinking even i should be covered, in case something happens to me....but have never had it before.
lala - it will depend on how much cover you want, your age, health history, whether you smoke etc. The cheapest way is to get fixed term, eg 20 or 25 years to cover you until the mortgage is paid off, children leave home etc.
You can get rough quotes from all sorts of online places - just google life insurance - but prices will vary slightly depending on personal circumstances (and you may not be able to buy online if you are not in the UK). The tesco insurance page gives an example of a 42-year-old man with £307,000 of cover over 20 years for £34.71 a month - if you're younger and want less cover obviously it will be cheaper.
Can I also say from experience that you should both be insured. DH died suddenly at the age of 41 leaving me with two small children. If we hadn't had substantial life insurance I would suddenly have had to go back to full-time work to pay all the bills, at a time when the children needed me to be around more, not less.
And even if you are not working, you only need to think of all you do in terms of childcare and household stuff, and how much it would cost your DH to pay someone to do it all, to realise that it's a good idea for both partners to be insured.
Here's just our example. We started a 10 year term assurance at aged 32 in 2001, non smokers, opted for 250,000 if either or both of us died, within the 10 year period. Insurance expires the end of this year with Norwich Union. It costs us £16.50 a month. It wouldn't surprise us if a new policy we are about to research costs us double, given the passage of 10 years and that we are older and more likely to die!
I'd definitely insure both parents. We have separate life insurance which pays off the amount of mortgage we started off with many years ago. We opted for the additional 250k term assurance to cover costs of then 2 children for a few year. I think now there are 4 children, when we look for a new policy, we may go for a higher amount.
Thanks exexpat(I am so sorry life dealt you that sad card exexpat) and natation - that is really helpful. I wonder if i can take out cover when overseas.Will check it out. My husband gets about 150K coverage via his company so maybe we just do me for now whilst we are overseas.Never had it before but now i have a family it is different. I guess 300K coverage would be about right with a 1 year old.
I don't think you can take out the cover when overseas. Probably best do it from UK and UK address and Bank and then write and inform when you move. I am also one who has Norwich Union happy so long as its a UK bank (and I tell them where I am, etc)
We have it with Friends Provident who have a specialist expat policy. It's expensive but worth it. You can only get it via a broker I think. PM me for details of the guy we used - he also did an expat mortgage for our UK house.
Thanks for your message but I can't work out how I find it on here?Will keep probing around the site to find where messages go.