annqldau

We have some British life insurances we need to cancel before our UK cash left behind to pay them runs out, anybody got any ideas who is good to go with for life insurance and approx how much this costs in Aus???

Hafan

If you are working your Superannuation scheme may offer Life insurance which is usually a lot cheaper and the payments come out of your employers contribution to the scheme, so you don't even miss the money. Otherwise I think the big companys like ING do online assesments to find out how much. If you have a policy with Norwich Union in the UK it is still valid while you are a resident here.

annqldau

We were told our UK ones still valid but when I totted it up we are paying nearly 700 quid a year in life insurance and endowments so thought we may be able to get it cheaper here. Plus if anything happens probably more hassle claiming here when your address is in UK...this emigration thing is complicated.

GinaUK

Just bumping this back to the top, as I'd also be interested in the answer.

Gina

annqldau

So would I as busy having sleepless night with sums going around my head now i've realised how much i'm paying out still in UK for life insurance will have no money left here for sending it back to UK at this rate... .

annqldau

Talking to people at work not many of them have life insurance they all seem to have accident cover but still think I would prefer both.

bal56

I've just switched my various policies from the UK to Oz. The old ones were still valid in the main in Oz, but I determined that I could get the same cover for less here. (Some of the premiums are tax deductible). I needed coverage as I'm the sole wage earner supporting seven, and we've also taken some coverage for my wife as I couldn't do a quarter of what she does and work if something happened to her. We ended up with all policies with Aviva (an Aussie arm of Norwich Union, with whom to be honest I wasn't much impressed back home). I can supply more detail by pm if you wish - our policies cover Death, Critical Illness, Trauma (a daily occurrence!) etc.

Brian

Stitch

Interested to hear if anyone else has any comments?

Cheers

Ginny

Abject_Rage

I'm keeping my policy with Norwich Union for the time being but may switch. My policy covers everything inc. critical illness for GBP 68 for my wife and myself. Before leaving for Oz, I tried to get quotes but they were all more expensive than my existing UK policy. I'll look some more but, may just stick with what I have.

purple swatch

[FONT=Comic Sans MS]ann,here is our qoute from"www.edcwm.com.au" not sure which ins co it is though,only got the email this week.
andy age 40 non-smoker $38.84 for $500,000 life ins plus $24.57 for trauma worth $100,000($12.29 for $50,000)
me,age 35 non-smoker $21.98 plus $15.22 trauma worth $100,00 ($7.61 for $50,00 trauma)
total $100.51 per month if we take the trauma worth 100k,works out cheaper than uk for us
hope it reads ok.[
/FONT] ps the trauma covers approx 35 medical conditions,cancer/stroke/MI/parkinsons/MS etc

Abject_Rage

So that's only 50k for you or 100k for husband if you get a trauma (cancer, etc)? My policy in the UK is for GBP 165,000 for life or trauma...meaning the house gets paid off even if I get trauma and survive. I wonder how much more your quote would be if it was $500,000 life and trauma?

Big Galah

$70 per month from ING. 37 YO non-smoker.

Don't know exactly how it breaks down (papers at home) but it's definitely 500k life and cover for trauma and terminal illness diagnosis.

Sold through ANZ, who I have several accounts with, so I got a discount on premiums.

cheers,

big.

annqldau

Would be interested to hear what you were quoted here we are paying to 25 quid for critical illness plus death ones in uk plus a straight forward life one for 10 quid

elksa

All I know is that life insurance over here is costing me around 2 times more than it did in England for a very similiar policy and payout. Almost fell off my chair when I received quotes from the life insurance companies over here. In England I was paying around 25gbp for life insurance for both me and the mrs here in Oz it's costing me over $150 per month. Got it chreaper as well because the cover is for both of us would have worked out even more expensive if I'd have taken out separate policies.

CornishPasty

I pay $37 a month for $290k of life insurance. I am a 31yr old single male smoker. Its with ING, but I got the insurance through a broker from ApogeeFP who was a really nice chap! I would be happy to pass on his name.

It would have been about $22 if I wasnt a smoker!