zTermLifeInsurance Blog
Tuesday, September 07, 2010
- 01
Jun
2010 -
Expat Term Insurance: Do You Need It?
Filed Under: Blogging
When you’re starting life as an expat, there are several things you will have to do before moving to a new country and culture. One of those decisions will be your term life insurance plan. First, you need to figure out whether your current life insurance plan will be valid abroad.
If your current insurance plan is valid even when you pass on when abroad, think about whether you really need extra insurance cover. You may actually not need any more insurance than you currently have. Check that first with your current insurance provider.
If the country you are posted in has a higher cost of living than the U.S., you may want to consider a minimal increase in coverage. If the country you are posted in has a lower cost of living than the U.S. (Brazil, for example), you may choose to remain with your current level of cover.
If your current is not valid abroad, you will need to get a new term life insurance policy for the period that you are abroad. A specialized international term life insurance plan such as IC+ Term Life Insurance will serve you well in this situation.
