Expat life insurance/assurance

afghanbill

I currently work in Afghan as a contractor, I have had my mortgage 18 mnths with Lloydstsb, took out life ins/assurance with critical cover at time of Mortgage, it looked good at time when looking for quick mortgage so I took out the cover (£80 pm for me and £30 pm for my partner). I now think it is a bit steep so I am trying to drop the critical and change to life cover only.
Problem is my insurerer Scot Wids will not change as I am out the country 9 months of the year I now find it hard to get cover for myself as I am out UK more than 183 days of the year.
Can anyone offer advice on where I can get reasonable Ex Pat cover!!!

TY
Billy :cool:

dunstonh

Your lack of UK residency will hit most UK providers. Your location is also going to have an impact as its a warzone (assumption).

Ltsb Scottish Widows products are not the normal retail Scottish Widows product. They are more expensive than an IFA arranging the same with SW. However, you may find now that it is the most effective option (although your location may exclude you). I suggest you look at the policy document to see if it covers you.

When you took the policy out, did you know you would be living abroad? If yes, then the policy is probably invalidated.

afghanbill

dunstonh wrote: »

Your lack of UK residency will hit most UK providers. Your location is also going to have an impact as its a warzone (assumption).

Ltsb Scottish Widows products are not the normal retail Scottish Widows product. They are more expensive than an IFA arranging the same with SW. However, you may find now that it is the most effective option (although your location may exclude you). I suggest you look at the policy document to see if it covers you.

When you took the policy out, did you know you would be living abroad? If yes, then the policy is probably invalidated.

Thanks,
No I didn't know at that time that I would get a job here, I took out the policy as mortgage term assurance cover while still in UK. I am still covered at present as I have asked SW and have sent them a letter that I am working here from day one so that's covered. It's my own fault for incl the critical cover thats why premiums are so high for me.
I am also covered by my employer just looking for a bit extra, as a just in case scenario.
Just looking to see if there are companys who can cover for less.

OshayAway

afghanbill wrote: »

Thanks,
No I didn't know at that time that I would get a job here, I took out the policy as mortgage term assurance cover while still in UK. I am still covered at present as I have asked SW and have sent them a letter that I am working here from day one so that's covered.

Just a thought but for your own peace of mind I would encourage you to request in writing that your policy is stil valid on that premis. The fact that you did not know about your occupation changing would not normally be of interest to the insurer or problematic, regardless of how hazardous it may be perceived to be, if you were not aware of that when you took about the cover. The fact that you spend more than 6 months out of the UK in any 12 months can be.

Regardless of what you may have been told verbally is one thing, the facts can be another which is why a written reply to your notification is paramount.

The necessary research for an IFA / broker to do on your behalf is to check those that do have the minimum 6 month residency condition, compare with 'international' ex-pat policies and I would also suggest making you aware of the insurers that do not have the normal exclusion for claims due to 'acts or war and terrorism' (most do, but not all).

afghanbill

Thanks Oshaway

I have spoken with SW ref the Afghan work and they say its anotated on my file along with the over 6 months out the country however I take your point I am due homne for Xmas hols so I will email/phone them for a confirmation letter, also waiting an Ex Pat company giving me a quote for life only cover.

Thanks again