need a Term assurance that's valid if I leave UK...

VixxAnn

We are planning to emmigrate to New Zealand and I'm trying to think through all the "stuff" that needs sorting. This includes Life assurance.

We took out a Nat West life 20year term assurance approx ten years ago that would finish when youngest child hit 21 yrs age. However we have since had a younger child (she is now 4) so I was thinking of taking out an additional policy anyway.

I have enquired with Nat West today if the policy is still valid if I leave UK (but continue to make monthly payments from a UK bank account) and they have told me it is only valid for five years once you've left the country. (don't know why five years?!)

So I think we really do need to take out an additional policy now that will cover us adequately once the first has finished (with justfive years it would finish whilst kids were 18, 16 and 9)

BUT...
I need to find a company that has no problem keeping the policy running if we emmigrate. How can I do this, short of ringing them all up? I was considering using Cavendish online as I got my mortgage protection insurance through them earlier this year - but I don't want to have to pay the commision fee until I know all the details etc.

HTH

VixxAnn

bump bump

could really do we some help on this ... anybody??

jasonking

You will struggle with most insurers if you definately plan to move abroad, best to seek advice from an IFA...or call around all the insurers yourself

Debt_Free_Chick

Why not arrange term assurance when you get to NZ? To be honest, if you ever need to claim, then dealing with a UK insurer from NZ could prove to be a bit of a nightmare.

Anyway, wouldn't you want the sum assured in local currency, rather than Sterling?

VixxAnn

have been adviced (by folks in New Zealand) that the policy will be more expensive to buy in NZ and also the premiums there tend to go up every year so it gets more expensive to hold insurance.

Wanted to take out policy whilst still in UK - just need to find a company that I know will continue policy if I leave country but continue to make my payments.