Further to our recent new bulletin announcing the withdrawal of all mainstream UK Life Assurance Companies from insuring British Expatriates, we have prepared this report detailing the availability of Life Assurance and Life Insurance to UK Citizens living abroad.

The withdrawal over the last year of Aviva, Friends Life and Legal & General from offering Life Assurance to British Expats has left many UK Citizens abroad searching for suitable Life Insurance.

As Independent Brokers who have assisted literally hundreds of Expats over the year’s we feel obliged to report the up to date situation to help the British Expat Community living outside the UK.

International Life Insurance & Global Life Assurance

We have been asked a number of times in the last few weeks to advise on several different Life Assurance products describing themselves as “International Life Insurance” and “Global Life Assurance” plans.

These tend to be short term policies, offering Life Assurance with premium rates up to four times those charged by one “UK Expat Life Assurance” provider.

These products could be very useful for people living or working in very high risk countries such as Iraq, Afghanistan, Russia or Ukraine.

However, we feel they are over-priced for people living in more peaceful areas of the world and people in those areas should take advice, from a specialist broker before deciding to apply for this type of cover.

Global Protection Plans & International Term Assurance (Reviewable and Renewable)

We have also have been asked to advise people on Global Protection Plans and International Term Assurance plans, that offer annual reviewable and annual renewable styles of Life Assurance.

Although these also can be effective for people requiring very short term cover over say 12 or 24 months, we feel that these types of Life Assurance leave the policy holder exposed to what is described as the “Claims Experience” of the Insurance Company offering the Insurance.

In one recent case we were asked to find replacement Life Insurance for a client living in Dubai, who’s existing policy had increased from £100 to £150 per month on renewal. If you are eligible to obtain a Life Assurance plan with “Guaranteed” premiums then this would be more advisable as this removes any uncertainty around future premiums.

UK Expat Life Insurance & UK Expat Life Assurance

As you can imagine we have been getting many enquiries, emails and phone calls over the last few weeks from British people living abroad, who are looking for Life Assurance and Life Insurance.  These people did not think the options previously mentioned were suitable for them and they asked us to find them an alternative.

Many of the clients that have approached us asked us to find them a UK Insurance Company that offered “Guaranteed Premiums”and is also friendly towards British Expats.

We are pleased to say that we have found such a company that is happy to insure British Expats and we are now able to offer “UK Expat Life Assurance” on a “Fee Only” basis. This means that the product you receive, does not have any commissions involved and you benefit from discounted monthly premiums for the whole duration of your Life Assurance plan.

If you are a British Expat and are looking for Life Insurance to protect your family, children, property or mortgage please contact us to speak with a financial adviser.

Please note our “UK Expat Life Assurance” Service is only currently available to people who still own a UK Property and still hold a UK Bank Account.

Be sure to read our previous news report * http://www.expatriate-life-assurance.co.uk/?p=114

Unusual Risks are the UK’s leading financial advisers offering specialist advice on Life Insurance and Life Assurance for British Expatriates and UK Citizens currently living abroad.

For more information on Expatriate Life Assurance, Expatriate Life Insurance, Expatriate Critical Illness Cover you can contact Unusual Risks by phone (Int) +44 1404 45397 (UK) 0845 474 3075.

Or contact us by Email at enquiries@unusualrisks.co.uk or visit us online at www.expatriatelifeassurance.co.uk

Are you a Broker or IFA looking for Expat Life Assurance? Visit our Broker / IFA Services page for more information http://www.expatriate-life-assurance.co.uk/?page_id=2

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