Expatriate Insurance Survey 2015 …

Unusual Risks, the UK Life Insurance advisers, are today announcing the results of their second Expatriate Insurance Survey. After conducting this latest survey into the availability of Life Insurance and Critical Illness Cover to British Expatriates, they can now confirm that only 33% of UK insurance companies offer Life Insurance products to British Citizens living abroad.

Their survey asked UK Life Assurance companies to indicate if they offered insurance products to British Citizens who spend more than six months abroad per year. Only 33% of Life Assurer’s were prepared to accept insurance applications from people living abroad and only 8% prepared to accept an application for Critical Illness Cover and only in certain circumstances.

Speaking about their survey, Chris Morgan, Lead Financial Adviser of Unusual Risks Said;

‘Obtaining Life Assurance and Critical Illness Cover for British Expatriates living abroad continues to be extremely difficult, with only a limited number of UK Life Assurance Companies now prepared to offer cover to applicants. Many of UK Insurance Companies require an applicant to be resident in the UK for at least six months of the year’. 

‘There are many groups of British Expatriates that have genuine reasons for needing a UK based Life Assurance plan, such as those with property interests, outstanding mortgages or tax interests in the UK. We have also met British Expatriates who require Life Assurance to protect family members and financial dependents still resident in the United Kingdom’.   

Within the survey it was also established that several Insurance Companies who initially said they would consider an application from a British Expatriate, in fact had specific rules around the maximum number of years an applicant can spend outside of the UK. This made their product unusable for the majority of British Expatriates who were unable to confirm how long they would be outside of the UK.

Chris Morgan and Unusual Risks have been helping the British Expatriate community for the last five years to arrange all types of Life Insurance and Critical Illness Cover policies for their needs. They are experienced at finding suitable insurance companies and completing all of the correct insurance paperwork for British Expatriates that are living abroad.

Visit www.expatriatelifeassurance.co.uk for our free British Expatriate Life Assurance Factsheet

If you require more information on Life Insurance, Life Assurance, or Critical Illness Cover for British Expatriates living abroad you can contact Unusual Risks Mortgage & Insurance Services on UK 0845 474 3075 or International +44 1404 45397, email at Enquiries@unusualrisks.co.uk or web at www.expatriatelifeassurance.co.uk

PLEASE NOTE* All applicants should be able to offer some form of interest in the United Kingdom such as a UK Property Address. All policies are arranged through leading UK Insurance Companies who collect the premiums from a UK Bank Account.

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