scotsista

We are planning to take out life insurance policies in the near future.

Bearing in mind we will be coming over to live in Australia for at least 2 years, possibly more, should we buy here in UK or Australia?

heldownunder

Dont know which is best but ours (uk) are happy that we will live in Australia even though its against the mortgage ...

scotsista

Thanks for your reply. We already have life insurance and critical illness for our mortgage. We're planning on taking personal life insurance on top of that.

Gems

We have life insurance here, Im with medibank and premiums were good.
Basically I will be pretty wealthy should my hubby pop his clogs
I have no relatives here so wanted to finacially secure should anything happen.

We have also take a big policy out on me too.
All organised online with medibank.

However both of us are intending to live to at least 100

Gems

spottydog

You can often get life insurance through your super fund, would certainly be worth checking as often when you first join after starting with your employer they will cover a certain multiple of your salary with no medical etc.

James516

Some UK life insurance policies will cover you when you move to Oz (assuming you still pay the premiums!) and some won't. Check before you buy.

In general the youger you are, the cheaper life insurance is. I'd be inclined to buy now rather than wait.

mark213

This is the most cost effective way and is tax free

fish.01

Mine (SunSuper) pays you double the default amount if you do submit to the medical though. Worth checking.