Am Loolah

Can anyone advise us on whether we can transfer existing UK life insurance and critical illnes cover to New Zealand?

Our situation is slightly different to most in that my husband is a Kiwi and so he can sponsor me (although have clearly stated - in writing - that I'm not losing any weight or running! And I apply straight off for a residency, despite having to go through the same forms, police check, medicals etc. My medicals and x-rays are on Tuesday ... smoke, drink, do no exercise, am very good liar!!

Any advice would be great. Hubby left when he was 7, we went to visit in April/May, but he never learnt about the essentials in relocating at that age! Lazy I say!!

Joshlin

we were led to believe that they weren't transferable, so we set up new in NZ for comparable cover / comparable cost and then cancelled the UK ones. We went through a finance advisor.
Vicki

danny.f

Same,we were led to believe they are non-transferable. Pensions accrued to date are frozen and paid on maturity wherever you are in the world, but life assurance is void.

Am Loolah

That's soooo unfair!! Does it make any difference that it's with a bank that has branches in New Zealand do you think? Can't believe that's all that money lost?! How rude!! Thank you very much for the pension info - hadn't even thought about that it's been so long since I could last afford to make a payment into it!

Am Loolah

That's soooo unfair!! Does it make any difference that it's with a bank that has branches in New Zealand do you think? Can't believe that's all that money lost?! How rude!! Thank you very much for the pension info - hadn't even thought about that it's been so long since I could last afford to make a payment into it!

P18PPS

I sem to have been told the opposite to everyone else. I was told that as long as I kept paying my premium from a UK bank account and let them know my address in NZ I could keep policy going. I wold suggest you ahve a chat wih them.

waynepfry

I was also told this, but if i missed a payment it would be cancelled.
It didn't include critical illness payment though.
best check again, ours is with Legal & General.
I also have a pension with Scottish Widows and they will let me keep this going for the next five years and then it stops, somthing to do with the tax man!!!
jane

Am Loolah

Had that thought about continuing with monthly premium, sadly have critical illness cover too - but not as much invested in that due to the wine & fag consumption! Am here for a good time, not a long time!!

Hmmmm, going to have to consider making maximum payments into pension out of lump sum from sale of house then methinks!

Thank you, all good to know. Will phone & go see scary bank manager!

Caroline