Life Insurance Query?

consumer

Hello,

I want opinion from fellow moneysavers regarding term life assurance policy.

If the policy holder moves abroad after being UK resident when the policy was taken,

1. Does the policy stay in place or does it get cancelled?
2. If the policy stays, what will be premium paying options? Because after moving abroad, UK bank account gets closed....

I contacted Legal and General and they say the policy gets cancelled when you leave UK...

OshayAway

Depends on the provider and several factors including:
- If you had knowledge of the move when you applied for the cover
- What country you are moving to
- If the move will be temporary, if so how long
In any case you will need to either maintain a uk bank account or pay annually by another means.

Your best bet is to inquire to your insurer in writing and give as much info as possible, you will then get an 'on the record' reply. If you just ring up, you can get conflicting information depending on who you speak to.