kiwinow

What are you all doing with about your life insurance policies? Are you keeping your UK one going or taking out a new policy in Oz?

Nu-Shooz

I don't think you can bring them to OZ not sure though.

We left ours in the UK.

gavstrad

I wrote to my UK policy holder (Scottish Widows) and told them I was moving to Oz and wanted to keep it going. They said they would honour the policy, as long as premiums were paid in the UK (I got them to confirm it in writing before we left to make sure...).

I did this for 2 years and have now got a new policy attached to my Super fund out here.

Hope that helps

bridie

I dont have super so I took out a policy with Zurich...

kiwinow

I thought super was compulsory in Oz.
Anyway, we just wondered whether anyone kept their UK one and kept paying into it and how you did that. Not sure it's worth it for us, but you do feel like you lose everything and start again if you take up a new one.

Scubaemma

Yeah we've kept ours in England and just keep paying it from our bank account over there (we are letting out flat out so still have a bank account over there). We checked and were told that was fine.

bridie

I'm self employed.... havent been told I have to have it...

kiwinow

OK. I guess it's up to you if you're self-employed.
Hmm. We're hoping to have sold our house and closed bank accounts. Is it worth keeping our policy and sending money back? Probably not.
In half an hour an estate agent is coming to tell us if he thinks we can get enough for our house at present to contemplate moving. We are so wanting to move to Oz but if we have to drop tens of thousands we can't do it - although someone has to win lotto this weekend.

medwaymark

Kept ours in UK. As you are older when you take out a new policy, good chance premium will be higher.

I had the option to pay the premiums annually or monthly.

Rosscarbery

We kept ours and now pay premiums annually, they need to be paid from a UK bank although the companies know we are in Oz permanently and that's fine.

Comparable insurance is a lot more expensive here, probably because we're now getting on a bit