Expatriate Life Insurance will provide a certain amount of financial security for your family as it will pay out a lump sum in the event of death. Life insurance cover is available on a single or joint life basis.
Level Term Assurance
Premiums are set and fixed for the duration of the insurance term. Payments will only be made if a death occurs during the insured period. Usually taken out for a fixed term level term insurance can be a useful way for younger cliental to provide security for dependents up to a certain age.
Term Assurance (Decreasing)
The bones of this policy means that life cover decreases during the insurance term reducing the cash payout the longer the term runs. This policy could benefit expatriates who want to secure the payment of a reducing debt if they die during the term.
Whole of Life Cover
Normally and usually this cover is the most expensive type of life insurance as the policy will run the whole life of the policy holder and will pay out on their death. It is usual for this type of insurance to be used by expatriates to help pay estate inheritance taxes.
Annually, Reviewable, Policies
These policies are reviewed annually and can be cheap initially but will become more expensive as the policy holder's age increases.