Life insurance for expats?

YC73

My husband and I are expecting our first baby next month and because he is no longer UK tax resident (we moved out to Delhi in October) we are having trouble getting a UK company to provide us with life insurance. Does anyone have any experience in getting British life insurance as an expat in India, or alternatively buying Indian life insurance? Many thanks

Nick-H

I'm too old for life insurance, medical cover, whatever, at 55. One company put me through some tests and turned me down on the basis of a successful operation over fifteen years ago.

So my experience so far: not too hot.

__________________
.


Just one member of the IndiaMike Mod Team

puchoo

Companies are willing to commit murder for you if you agree to take a policy from them these days.... the best thing would be for you to call them and ask.... they are overly-keen right now given the fact that its March....

__________________
Cheers!
Sidharth

Indiamike Mod team............the new kid on the block!

puchoo.wordpress.com

Familyonthemove

At the UK end I found that the Supermarket Life Insurance schemes (Tesco and ASDA) were happy to provide cover, whereas the banks were not willing to provide cover.

At the Indian end it seems that life is cheap here .... with some companies offering Rs 1 Lakh cover in case of death!

There were some restrictions on travel outside the major cities due to malaria concerns - and to get UK cover you may have to be in the UK to meet the rep and have a medical. You also need a UK address.

__________________
My Journal

My Photos

Aishah

Mr K has life insurance with LIC taken out years ago and on his demise there is a payout of 50,000 rupees! Might have seemed a lot in those days - still there are regular bonuses now and then accruing to it, or can be taken as cash as you go.

__________________
"Life can only be understood backwards, but it must be lived forwards."

nayan

The payout depends on the type of policy, your income and the premium that you pay. there are lots of policies where the payout will be in crores (1 crore= 10 million).
your husband can talk to the bank people related to his office. they will surely be able to provide him with proper leads.

YC73

thanks for your replies, I'll start checking it out. We are here setting up a company so my husband has no employer to help him with these things (he is the employer!) so like everything else with our relocation to India, its all up to us to find out. So your replies are very helpful.

puchoo

Not at all..... its upto the individual if they wish to take a 1 Lac or a 1 Crore option , the banks are just providing the flexibility.

]
An just to add to that (sorry i forgot) its a pretty decent marketing strategy given the distribution of wealth in India.