Living abroad is an exciting adventure, but it’s important not to neglect your financial security, especially when it comes to protecting your loved ones. International life insurance for expatriates is a crucial component of any global financial plan. At Expat Financial, we understand the unique needs of individuals living outside their home country, which is why we offer comprehensive life insurance and accidental death and dismemberment (AD&D) plans specifically designed for expatriates.
Key Benefits of Expat Term Life Insurance
Our expat term life insurance plans provide a range of benefits to ensure that you and your family are covered:
- Comprehensive coverage for death from illness or accidents
- Flexible term options ranging from 1 to 30 years
- Global protection once the plan is established
- Premiums guaranteed by the provider for the contract term
- Coverage designed specifically for expatriates and global nomads
- Available to residents of up to 170 countries
Choosing the Right Global Life Insurance Policies
Finding the right global life insurance policy can be overwhelming, but we’re here to help. At Expat Financial, we work with well-known, financially secure, and reputable insurance companies to provide you with customized quotations based on your unique circumstances. Our team can guide you through the process and help you determine the right amount of coverage for your needs. Please note that our expat life plans are not available to local nationals or expatriates currently living in certain countries, including the USA, Canada, and the UAE.
Who Buys International Life Insurance?
A wide range of global citizens purchase life insurance for expatriates. Here are some common examples:
- Single expatriates with financial dependents
- Expatriates with mortgages on overseas or domestic properties
- Expatriate couples relying on two incomes
- Expatriates with children, seeking financial protection for their education and future
- Companies with a single expatriate employee
- Individuals needing coverage to pay estate taxes or protect their businesses
Expatriate Disability Coverage
In addition to life insurance, we also offer expatriate disability income insurance plans. These plans provide valuable protection against accidental death, permanent disablement, and temporary disablement. The policy pays a monthly income in the event of total disability, ensuring that you and your loved ones are financially supported during challenging times.
Expat Insurance Needs Analysis
To determine the right amount of coverage for your specific situation, we recommend completing an expat life insurance needs analysis. This analysis takes into account your debts, final expenses, and desired income replacement for your partner and children. Sun Life offers an excellent online life insurance calculator that can help you assess your insurance needs.
How Do You Buy International Life Insurance?
To get started, simply complete our expat life insurance quote form. We will review your information and connect you with one of our insurance providers, who will then provide you with a quote if you are eligible. After reviewing the quote and completing any necessary paperwork, such as answering medical questions and providing proof of identity and residence abroad, you can finalize your application. The process can take a few weeks or months, so it’s best to start as early as possible.
FAQs
Can I cancel my expat life insurance policy?
Yes, most expat life insurance plans allow you to cancel the policy at any time and for any reason. Simply provide written notice to the company’s Head Office.
What are common exclusions in expat life insurance policies?
Common exclusions may include death resulting from active participation in war, criminal activities, intentional self-inflicted injuries, or certain acts of violence. It’s important to provide accurate and complete information about your health history when purchasing expat life insurance.
Will domestic life insurance plans cover expatriates?
Coverage varies by country. Some countries may provide coverage to expatriates, while others may not. In some cases, domestic life insurance options may be financially unreliable or not portable to other countries. It’s best to consult with an expert to determine the best insurance options for your specific situation.
Which countries and nationalities are excluded from expat international life insurance plans?
Exclusions may vary depending on the insurers we work with, but some countries and nationalities are typically excluded. These may include Afghanistan, Albania, Benin, Burkina Faso, Burundi, Central African Republic, Djibouti, Eritrea, Guatemala, Guinea, Guinea-Bissau, Guyana, Iraq, Lebanon, Liberia, Libya, North Korea, Palestine, Rwanda, Sierra Leone, Somalia, South Sudan, Syria, Switzerland, and Yemen. Some insurers may have additional restrictions. If you are living in the USA or Canada, we recommend obtaining a plan from a local insurer.
Conclusion
International life insurance for expatriates is essential for safeguarding your loved ones and providing peace of mind while living abroad. At Expat Financial, we offer a range of comprehensive life insurance and AD&D plans tailored to the unique needs of expatriates. Our team is here to guide you through the process, helping you find the right coverage and ensuring that you and your family are protected, no matter where in the world you call home.
