svinnes

We have just bought our first house in Oz 2 months ago, and now are in need of life insurance, but the problem is we are only on 457 visas and every company that we have approached say that we need to be residents, anyone had to deal with this and can tell us what to do??

Cheers
Suzanne

Fardell

I'm pretty sure you do not need to be a resident to get Australian life insurance but there may be a requirement that it is "your intention" to become resident, if that makes sense. Suggest you make an inquiry through www.exfin.com - they deal with life insurance for non-resident Australians and the situation is comparable, I think. If insurance is not available here then it will definitely be from overseas, international insurers - including British probably. It may be more expensive, so best to look locally first. Note that it may also be available through the local superannuation scheme.

andrew63

On a 457 when we landed, our life insurance is deducted from our superan contributions. no problem. So, ask your super provider. We still do this and are now PR.
Dont forget, if you become PR within 12 months of signing your house contract, you can back claim the $7,000 FHOG.

Andrew