Life insurance when moving abroad

17 July 2018

The decision to move overseas can offer exciting new opportunities, and with 5.5 million UK citizens living abroad, you’re in good company. Understandably, you’ll want to know how this big decision affects the finer details of your life, from tax planning and health coverage to whether you can get life insurance if you live abroad. So, whether you’re moving for work, retirement or simply sun, sea and sand, here are the key things you need to know about overseas life insurance.

Does moving abroad affect my application for life insurance?

Yes, the short answer is that moving abroad can affect your life insurance policy. This is because your life insurance terms are based on the risks associated with your residency and travel status. Many people take out life insurance when they’re younger – often when buying a home or starting a family – but even if you have no relocation plans, it’s worth thinking about the implications of life insurance if you live abroad.

What factors affect my life insurance terms?

Your life insurance acceptance terms can be affected by your past, present and future residency and travel plans. Here are some of the factors that may influence your life insurance quote:

  • Personal and health risks, such as living in areas affected by armed conflict, political instability or a high risk of certain diseases or infections.
  • Tax rules and legislative requirements in the country you’re moving to.

Am I eligible for life insurance overseas?

It’s always a good idea to consider whether you need to protect your loved ones with life insurance cover and whether you can apply for cover if you’re moving overseas. In most cases, you are eligible for Legal & General Life Insurance if you’re a permanent UK resident; in other words, you currently live in the UK and have spent at least 183 days in the UK in the last tax year. In addition, if you’re temporarily travelling within the EU, USA, Canada, Australia and New Zealand – and other countries on a case-by-case basis – you should be eligible for Life Insurance. You will also be considered if you’re a Crown Employee or employed in the Merchant Navy.

If we’re able to offer you a policy it will remain valid as long as you continue to pay your premiums from a UK bank account.

Life Insurance for permanent moves abroad

If you’re certain to be moving abroad, you can apply for Life Insurance so long as you’re not moving in the next three months. We should be able to offer Life cover provided there are not any specific risks related to the country you are planning to move to.

Of course, everyone’s circumstances differ, and Legal & General will consider all reasonable applications.