nightnurse2

Hi, my husband is thinking or getting life insurance, we are over here on a temp visa. My question is should he get it from the UK or an OZ company, or are some policies transferable? Hope someone can help!

Tracey

movetoperth

Tracey

Pm me your phone number and i'll get Martyn to give you a call (thats the bloke i was talking about yesterday )

We are paying much less on our aussie policy than we were on our uk one, for better coverage.

Lynn

BTW who says i'm mad

Sandra

Is the temp visa for you or your husband - remember to check out work related policies some are great and save heaps rather than the private ones - equally some can be crap. Ask your HR department.

I am sure you know all the following but just to state the obvious

Check each current policy carefully asking the company direct specifically about your requirements. Do not buy the insurance off the internet or without speaking directly about your case as many of the sites will have UK resident as part of the small print. I would start looking at some of the world companies like HSBC.

I was on a temp visa and had to change some UK policies to cover my husband and I and children properly as the UK ones would not cover us for more than 90 days outside the country. We had to stop the childrens school policies. Some of exsisting policies did cover overseas assignments but you have to let them know your arrangements.

Also check on endowments that may have an insurance attachment - we cashed in three for other reasons but found the insurance part of one of them would been invalidated if we did not inform them we were living outside the country! We actually planned to change from the temp visa to a PR and managed to do that luckily otherwise it would have been an even more expensive exercise starting them all back up again in the UK. Obviously I am not advocating to anyone that you cash in all endowments before checking on investment and tax implications carefully.

The house insurance (we left it for a year before selling) was also a pain in the butt, the english company wanted a heap more money because we were going to be overseas.

Sorry for the long winded response (I am very boring about insurance) ..... its very boring but better to be safe than waste money.

Jacko1

Most UK Policies are global, However, may be dificult to set up out side of UK. We have a UK policy at the moment but will be transfering to Aus Policy soon.
Most of the banks here will give free advice on this, and Australian policies are cheaper.

Paul J (Also in Ellenbrook)