Can People Living Outside Of The UK Get Ex-Pat Life Insurance?

flags globe imageLife Insurance is a common type of arrangement for many people all over the world. Typically, this involves using a local source of cover for the country or region you live in. But what if the circumstances are more complicated than that? Is it possible to get life insurance for expats and if so what are the implications of life insurance living abroad?

Up until recently, it was very difficult to get life coverage for expatriates. International life insurance providers for UK nationals living abroad were either very expensive or unwilling to offer cover. This is no longer the case as we now have access to a UK insurance provider offering life cover for non-UK residents.

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As well as this, we can even offer a life insurance policy for foreign nationals who have an insurable interest in the UK (subject to the country they live in). So, you can be eligible for life cover for non-UK residents even if you do not live in the UK, have a UK passport or indeed a right to reside in the UK.

The rules are similar to qualify for life insurance for Brits living abroad as well as a life insurance policy for foreign nationals. That the applicants can pay the premiums for international term life insurance or mortgage protection life insurance, from a GBP bank account in the UK, Jersey, Guernsey, Isle of Man or Gibraltar. As well as this, the applicant/s for international term life cover or mortgage protection life insurance must have an insurable interest in the UK such as a mortgage, inheritance tax liability, dependants under the age of 21 or business liabilities.

These conditions are specific to our UK based providers and are not typical of most international life insurance providers or international life insurance companies. The products are specifically designed to provide both life insurance for British people living overseas, for those that require life coverage moving abroad, and for those that require life assurance while living abroad already.

Most companies will not consider these types of circumstances and are usually never as flexible in terms of the number of scenarios they will consider. An example of this would be if an applicant requires cover for moving abroad but has yet to do so.

Life Insurance For Those Living Abroad – Recent Case Studies:

Mr Traynor who resides in Hong Kong and now rents out his old property in the UK to a family needed some coverage for the £350k mortgage that was still in place on his property.

Mrs Brookes who retired a few years ago to France with her partner had an inheritance tax liability in the United Kingdom due to assets held there. She needed a UK-based insurer for peace of mind in addition to being able to benefit from the lower cost of UK cover. The French alternative was far too expensive.

Mr Drew who now lives and runs a business in Portugal. He separated from his wife three years ago and paid maintenance for his 8 & 9-year-old children. He needed some life and critical illness cover in case he was forced to stop work and unable to make the payments to his ex.

Below are some examples of destinations and the likeness of the destination being acceptable:

Life Insurance Living in France France is a country that is acceptable to both UK nationals and Non-UK nationals. So, if you require life insurance living in France or are considering moving there, the option is available to you.

Life Insurance Living in Spain Similarly to France, life insurance living in Spain is acceptable to both UK and non-UK nationals.

Life Insurance Living in Germany – As with most European countries, the cover is available to both UK and non-UK citizens.

Expat Life Insurance Dubai Dubai is an international hub and a popular work destination for people from all over the World. Due to this, the demand for policies is strong and thankfully available to both UK nationals and Non-UK nationals.

Expat Life Insurance Hong Kong As with Dubai, Hong Kong is an international destination with a large expat population and because of this expat life insurance, Hong Kong is available in both circumstances be it UK national’s and non-UK citizens.

Some Of Our Providers Include:

  • HSBC
  • AIG
  • Friends Provident
  • Liverpool Victoria
  • Aviva
  • Scottish Widows
  • Scottish Provident
  • Canada Life
  • Standard Life
  • Lutine
  • Aegon/Scottish Equitable
  • Face to Face
  • William Russell
  • Zurich

So, to round off with a question answered. Does life insurance cover you abroad?

Seems like an obvious question but one that’s worth answering. The type of cover offered will cover the insured wherever they are in the world. Residency is taken into consideration for application purposes, but the circumstances of a claim destination are not relevant. So, in short, “does life insurance cover you abroad?”, YES!