If you haven’t ticked this box, maybe it’s time you crossed it off your to-do list! As an expat living and working abroad, protection of your lifestyle and income should be paramount if anything unforeseen happens to you.
If you have a family, it’s vital that their financial security is assured in the event of your incapacity or death—and with adequate international insurance, your family’s lifestyle, independence and well-being will be protected.
For most expats obtaining life cover in their home country is a simple task but this is not always the case as an expat living overseas.
You may find your current company offers a form of life insurance known as death-in-service benefit. In this case, you will usually receive four times your salary should you die while employed by the company. Even if you do have some form of cover at work, it will likely not be enough and, of course, if you moved countries with your company you may find your employer’s scheme does not cover you whilst working overseas.
Essential Expat Life Insurance
The basic expat Life Insurance plan will provide financial security for your family and it will pay out a lump sum in the event of death. Life insurance cover is available on a single or joint life basis and most now include terminal illness benefit.
Expat Critical Illness Insurance
Expatriate Critical Illness Insurance can provide cover in the event of permanent and total disability, or the diagnosis of a serious illness. In the event of incapacity your future plans are likely to dramatically change. Financial security is therefore crucial to maintaining your family’s lifestyle.
Expat critical illness cover will help provide an income to cover day-to-day living costs, mortgage repayments or medical expenses. As with expat life insurance, expat critical illness plans can provide cover for both individuals and couples and can be added to the basic life insurance policy.
For more information on how to provide your loved ones with financial security, do contact or connect with anyone of our financial Expat Experts listed on our expat expert directory page.