• zTermLifeInsurance Blog

  • Thursday, July 29, 2010



Living and working abroad has many benefits, but one area where you might face problems is in term life insurance. Not only do many U.S. insurance companies reject term life applications from those living abroad, expatriates have trouble finding a reliable term life insurance quote from foreign companies as well.

However, there are a few companies that offer reliable and safe term life insurance plans especially for expatriates. One such plan is the IC+ Term Life Insurance plan. Offered by HCC Medical Insurance Services, the IC+ Term Life insurance plan offers plans with flexible options.

The basic plan pays out the policy limit to the beneficiaries on the death of the plan holder. There is also a terminal illness option, which pays out half the policy limit when the plan holder is diagnosed with a terminal illness and is medically evaluated as having less than a year to live. The diagnosis should be new (not pre-existing) and should be evaluated by a physician approved by the IC+ Term Life Insurance plan.

In addition, there is also a double indemnity coverage offered, which doubles the coverage in case the death of the plan holder is due to an accident that is covered under the plan. The IC+ Term Life Insurance can be purchased for terms from one to 10 years, making it ideal for expats who are abroad on work.


In a recent study, it was found that millions of dollars are left unclaimed in life insurance policies in the United States. This means that many beneficiaries of term life insurance and whole life insurance policies are simply not reaping the benefits of the policies taken out by their dear departed. Ensure that your dependents do not suffer the same fate by following some simple steps.

Let your family know: Sit down with your family and let them know about the term life plans that you hold. Also let them know what some of the main terms and conditions of the policy are, so they are better prepared to make a claim.

Write down details of all your investments: Whether it is term life insurance, mutual funds, or investments in stocks, write all the information down in one accessible place. This will also help you keep a tab on all your investments. Update this information as and when it changes. Let someone in your family know where this information is.

If you have a lawyer, let the lawyer know: If you have an estate lawyer, let him/her know who gets what money and how. Typically, you’d want to include information about insurance in this, up top. If you don’t have a lawyer, but have a will, let the executor of the will know about the insurance. Ensure that your hard-earned money actually benefits your near and dear ones.

Making a plan for what will happen in the event of your passing is one of those chores that no one wants to tackle, but everyone knows they must do. Here are 3 things you should do to make certain your family will be financially secure if something happens to you. We'll start with term life insurance.

Term life insurance is one of the most worthwhile investments you can make to protect your family. For a small payment, you can protect your family with enough coverage to ensure they can keep paying the bills without the help of your salary. You can buy term life coverage in increments large enough to cover both your large outstanding bills (like home and vehicle payments) as well as smaller monthly expenses (like utilities and credit cards). Unlike stocks and mutual funds, the value of term life coverage will not fluctuate, so your beneficiaries will be guaranteed a set disbursement if something happens to you.

If you are investing in stocks, then the second thing you can do to leave your family financially secure is to diversify your portfolio. This is one of the cardinal rules of investing, and the basic idea is that you want to invest your money in multiple different opportunities so that if one investment falters, you haven't lost all of your money. You may want to mix high and low risk stocks, or put some money in stocks and other money in stable bonds, or funnel some of your investments toward real estate. There are lots of different ways to diversify, and you may want to meet with a financial advisor to find the right strategy for you.

Finally, make sure that you have an official last will and testament drafted by an attorney. Without one, it could take months or even years for your dependents to gain access to what you intend to leave to them. An official will makes the task of allotting your savings as you see fit much easier. It will move your family towards financial security much more quickly.


Traditionally, insurance—whole life insurance more than term life insurance—was sold as part of a savings package that could be used for retirement as a tax-free component. While life insurance seemed to make sense in that case, life insurance became part of the insurance culture.

Now, with the arrival of term life insurance as a force to reckon with, companies are facing basic questions about the rationale behind life insurance. Most commonly, questions are related to why term life insurance, if savings are in place with the appropriate beneficiaries listed in the savings document.

Term life insurance was earlier typically used for those situations which called for huge sums of money for specific purposes—like the college fees of a child or mortgage of a home. Now, however, it is beginning to form a major component of the life insurance plan of a person regardless of the presence of extra expenses.

Those under 50 will especially benefit with appropriate term life insurance. Rates increase with age, and although 30-year term life insurance plans are also available, it might be best to carefully weigh options before going in for longer term insurance plans.


Term life insurance is on a lot of people’s lips these days as the primary method of insuring one’s life. Some old-timers may pooh-pooh term life insurance as just another fad, and in their day and age, it might have just been one.

Consider this: Until a few years ago, term life insurance quotes were very opaque. You wouldn’t really understand how the premium was arrived at, and more often than not, the rates were quite high. Today, though, with increasing competition, term life insurance rates have come down drastically. The annual premium for a $500,000 term life plan for a non-smoker is around $500. The premium for a woman is lower than that.

However, just a few years ago, the same plans might have cost around $700, with quotes around $1,000 not being uncommon. Insurance agents too, with the kind of commissions they made from whole life insurance plans, were known to highlight the negative aspects of term life insurance, and emphasize the fact that whole life insurance is an investment as well as a life insurance plan, so you’re covered no matter what. Of course, they tend to underplay the costs of whole life insurance plans.

Now, with the proliferation of the internet and a more investment-savvy public, term life insurance is growing in popularity, and some of the misconceptions surrounding it have been removed. When looking for life insurance, term life insurance should probably be your first stop.


The term life insurance industry has gained major points over whole life insurance in the recent past. The reasons are many, but the main fact is that there are many options for term life insurance than ever before. With many plans from reputed insurance companies flooding the term life insurance market, finding a term life insurance quote that works for you is no longer difficult.

One demographic, however, still has some trouble finding appropriate term life insurance—the expatriate community. Because situations and life expectancies outside the United States is not very well known, many companies that offer term life insurance shy away from extending the benefits to expatriates. In fact, many companies stipulate that the life insurance is considered null and void when a plan holder takes up residence abroad for a considerable period of time.

Plans such as IC+ Term Life Insurance offer relief in just such a situation. The plan offers international term life insurance which follows the plan holder around the world. The maximum benefit amount that can be opted for is $2 million, a reasonable insurance sum for most people.

The plan not just offers life insurance, but also features terminal illness coverage, for illnesses which determine that the plan holder has less than a year to live. The plan also provides, as an added service, travel advisory services such as baggage tracking and assistance with travel procedures.

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