Expat Life Insurance

Over 382,000 people pack their bags and escape from the UK each year to begin a new life abroad. Amidst the inevitable chaos of visas, vaccines and a thousand forgotten tasks, many people overlook a crucial factor – their life insurance. It’s important to tailor your life insurance to your new circumstances, and an ex-pat life insurance can include some subtle differences from a traditional life insurance policy.

This guide will ensure you have all the information necessary to make an informed decision about your expat life insurance before you begin your journey abroad.

Why do expats need life insurance ?

Moving to another country is an exhilarating experience and a thrilling challenge to boot.  Your circumstances are going to be quite different, and it’s hard to see exactly what the future will bring.

You may be taking on debt in a new property, usually in a form of a mortgage.  If something was to happen to you or your partner, the remaining partner will be liable for this cost.  There are also other financial responsibilities which might pass to your partner if you were to die – credit card debts, overdrafts etc.  If you were to die, how would your family cope with this payment?

If you have children, it is your responsibility to ensure they will be looked after if you were to die.
Life insurance is all about making sure that if something does unfortunately happen to you your spouse, partner or dependants will be looked after financially.

Expats frequently rush their life insurance decisions as they have their mind firmly on other things.  It is common for ex-pats to be doubled up on insurance (thus paying too much), or under-insured in other areas.