Can I Buy UK Life Insurance if I Live Overseas?

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How to Choose a Life Insurance Policy?

For people who live and work abroad, protecting their income and lifestyle is crucial if something unfortunate should happen. According to recent statistics results, more the 13 million British nationals live abroad, out of which over 5 million are abroad on a permanent basis. There is an apparent trend of more people leaving the UK now than a decade ago. If they have a family, then it is vital that they are financially secured in the event of death of the breadwinner. It is important that there is adequate international insurance to support the family’s well being, independence and lifestyle. For most UK residents, purchasing a life insurance policy is a simple task but this is not the case for the non-resident citizens living overseas. Unfortunately, many UK insurance companies are not ready to cover insurance requirements of expats. But there are some who do and proper research and sources, it is possible for an expat to enjoy the same benefits as the UK residents.

The number of consumers whose policies will continue to protect them when they move to another country is very tiny. The implication of this is that a high percentage of expat consumers (especially the ones who are moving on a permanent basis) have bought insurance policies they will never be able to use. Another implication is that a large number of British nationals are living abroad without any kind of insurance coverage.

Where to find expat insurance provider in the UK

The first initiative one must take is to analyze the residency conditions of the insurance company. Many will present a clause that requires one to stay in the UK for 6 months out of 12. This means that the consumer is covered for a time period abroad that is shorter than that. If a clause of such kind is not clearly stated than one needs to call the provider and inform them of the personal circumstances.

If it is not possible to find an acceptable offer with a regular UK life insurance company, then there are two choices: 1) to find a company that offers policy specially designed for non-resident UK nationals. 2) To go with an international insurance company that provides worldwide coverage. An example of a reputable provider that specializes in insurance for expats is “Expatriate Healthcare”. They provide a comprehensive any-cause cover and insure UK nationals anywhere in the world. In addition, they are underwritten by Lloyds of London so a consumer can have peace of mind and safely assume that they will pay out when there is a need.

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