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Life Insurance policies sold by UK Insurance Companies can
only be sold to people living permanently in the UK at the
time the policy is sold. There are no exceptions to this guidance.
Naturally, this doesn’t mean that when you go on holiday
abroad your policy will be voided. Nor does it mean that if
you take temporary work abroad your policy will be invalid.
You will still be insured.
When you completed the insurance { home insurance } company’s application
form you will have answered questions about where you live
and whether you have, or expect, to travel or work abroad.
So long as you answered those questions truthfully, then all
is well. As with all insurance, if you did not complete your
application accurately, then the insurance company will cancel
your policy and refuse any claim.
What happens to my UK life insurance
policy if I go to live abroad?
If you go to live abroad then you must contact your insurance
company to enquire whether they will keep your policy in force.
You should do this before you leave the UK.
Most insurance companies will decide that the policy has
to be cancelled – but not always. That’s why you
should speak to them. For example, they will consider which
country you are emigrating to and what you are going to do
when you get there. They may be more inclined to keep the
policy in force if you are taking early retirement in Spain
but will certainly cancel if you are going mining in Africa!
How do I get life insurance if I
become an expatriate?
Most big UK insurance companies have international divisions
which specialise in insuring expatriates – it’s
called international life insurance. Typically these companies
are based offshore from the UK – usually in the Channel
Islands or The Isle of Man. Policies can arranged with them
through agents and brokers throughout the world. You can also
arrange this insurance through the Internet.
The premiums for International insurance policies are accepted
in all major currencies. One of the big advantages of these
international policies is that if there is a claim, the money
paid will not be subject to the laws and regulations of your
new country of residence – it is subject to the laws
of the country in which your insurance company is based (typically
the Channel Islands or The Isle of Man). This provides useful
flexibility in how the money is handled.
If you do need a medical,
the insurance company will make all the arrangements for you
to be examined locally, in your new country of residence.
If you are still in the UK waiting to go abroad, the medical
will take place in the UK.
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