wouldbekiwi

I'm new to the forum and have been given the 'minor issues' list to resolve for family hoping to emigrate to NZ. I'm working through a list using all resources but will post here when I'm stuck if that's OK?

Has anyone had any issues with retaining a UK life policy (with premiums paid from cash left in a UK bank account)? Do they normally give the same cover even if the person lives abroad? And what about when it matures? Anyone had a problem there?

Joshlin

welcome to the forum - feel free to ask away.
we kept our policy as an interim measure, but didn't tell them we'd emigrated so not sure what would've happened if they'd had to pay out.
We've just set up an NZ policy which is very comparable in terms of cover and cost.
Vicki

westies

Hi There
We had the same questions, we spoke to the policy provider here who informed us that so long as the policy is paid for from a sterling bank account (ours will be offshore) then the same policy with same cover can continue. All they ask is to be kept up to date with your new address, hope this helps!
Tracey

Piccolo

If your policy includes tax relief then if you are emigrating I should think you would have to inform the the Insurance company. It may mean that the payments would go up slightly.