Does moving abroad affect my existing life insurance policy?

It depends. There are a few different scenarios that we need to consider and so let's look at each one in turn:

Is my existing UK life insurance policy valid if I move abroad?

Typically, yes. Life insurance is assessed according to the details provided during the application process. As long as the information provided is accurate at that time, coverage should remain valid even if your situation changes. It is advisable to verify with your insurer, but as long as you did not have any awareness or plans to relocate overseas at the time of application, you should be fine. Certain insurers may require premium payments from a UK bank account and a UK address for correspondence to be maintained, so keep this in consideration.

Is my existing UK life insurance policy valid if I work abroad?

Generally, yes, in most situations. If you have started a new job or if your job requirements have changed, such as needing to live or work overseas, as long as you provided truthful information during your initial application, your existing life insurance policy should remain intact. You should still be fully covered even if your residency changes in the future.

Essentially, once your life insurance policy is active, you are free to switch jobs, alter your lifestyle, or even pursue risky activities, provided that you were transparent and had no plans to do so when you applied. However, an insurance provider might scrutinize how recently these changes occurred compared to your application date, so keep that in consideration.

I am intending to move abroad, do I need to let my life insurance company know?

While it is not mandatory to inform your current insurance company about your plans to relocate abroad, it is advisable to contact them, even if it is just to update your address. Keep in mind that certain insurance providers may require premiums to be paid from a UK bank account if you plan to use a different account while overseas.

Can I get life insurance if I move abroad permanently?

Yes, but the cover you get may depend on where you end up moving to and the reasons for doing so. If you would prefer to have life insurance with a UK provider then, ideally, you should try and get your life insurance sorted as soon as you can. Most life insurance providers will be able to offer life insurance cover, so long as you are not moving overseas within three months and so long as there are no specific high risks with the country you are moving to.

If your move is likely to happen within the next 3 months, then it becomes a little more tricky, but that doesn't mean to say you won't be able to get cover.

I currently live overseas, can I get life insurance from a UK provider?

Yes, but you'll likely need to have a UK bank account, correspondence address, as well as an 'insurable interest' in the UK. An insurable interest is another way of saying that you need a reason for the insurance, typically this would be a mortgage, business or inheritance tax liability, although it could also refer to family members who depend on your income. The application would be subject to the usual underwriting process and so you should expect the life insurance company to take a keen interest in your reasons for residing outside of the UK, whether it be for work or pleasure.

Can I get a UK life insurance policy if I live abroad for half of the year?

Yes, however, the insurance company is likely to take a keen interest in your reasons for living abroad, what you do while you are there and how long you stay there for at any one time; this will usually be in the form of a short questionnaire.

Broadly speaking, you should be able to get UK life insurance if you live abroad for half of the year, so long as:

• there are no associated risks with the country you live in, including the risk of war, political unrest or any health-related risks

• you have not spent more than 90 consecutive days in Africa, the Caribbean, Russia, Thailand or Ukraine