Britons living abroad can only get quotes from 28 per cent of the market
A recent article published by International Adviser found that Britons living abroad are now able to get quotes from 28 per cent of the market. Although a significant increase from 2016, when just 16 per cent of the market was accessible to British expats, the limitations of the types of cover continue.
Whilst more providers are now offering life policies to expats, just one of 14 UK Life Insurance providers is able to consider a critical illness cover application. The report found that the majority of expat Life Insurance providers require the applicant to reside in the UK more than six months of the year.
“Often for British expats considering life insurance cover, they’ve limited choice in the market, the product often comes with a marked-up price tag and the process can be more inconvenient for expats” commented Liquid Expat Managing Director, Stuart Marshall.
The problems only continue for expats as international companies and offshore IFA Groups offer expensive annual renewable and reviewable premium products. Although the choice of insurers that extend their services to the expat market is still limited, British expats reasons for requiring a UK-based life insurance plan are growing. From outstanding mortgages in the UK, to protecting family members who are still resident in the UK, the need for life insurance cover for expats is increasing.
“As expat mortgage specialists, it was a natural development that we carried out the research to source a life policy provider for our clients. We’re delighted to introduce our new expat life insurance offering”, added Stuart.
The recently launched expatlifequotes.com website from Liquid Expat allows British expats to find a life policy that suits their requirements. Unlike the few others occupying the expat life insurance space, there are no fees and no biases for expats. In addition to providing the tailored service, British expats could see typical savings of 50% when compared to quotes from offshore IFA groups as well as a streamlined online process and no lengthy paperwork. Expats can benefit from fixed premiums throughout the policy term from reputable UK insurers.
“Expat protection services are becoming increasingly difficult to come by. For many offshore IFA Groups, researching protection for their few British expat clients is often time consuming and inefficient. Thus, the expat is often faced with additional fees and charges, or an overall higher premium. We’re able to offer expats a free, no-obligation quote in addition to an application process without additional fees or biases”, concluded Mr Marshall.
Start your quote today and save up to 50% on British expat life insurance, it only takes a minute and your policy can be in force within 24 hours with telephone underwriting for a streamlined and expat-friendly process.
Begin Your Quote and see how much you could save!