Expatriate Healthcare has developed an international term life product for expats that allows them to transfer the cover from country to country, even if they move overseas permanently.
The worldwide policy can be applied for and approved online and monthly debit or credit card premiums can be collected in three different currencies – sterling, euros and US dollars.
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The policy can cover corporate groups with employees in multiple locations, which simplifies the administration of employee benefits or key man protection.
Capacity for the new international term life policy is provided by ANV’s Lloyd’s of London Syndicate 779.
The launch comes at a time when Expatriate group manager, Lee Gerry, said domestic insurers do not provide life cover to policyholders who move abroad full-time.
Gerry said: "Today, more people than ever have flexible lifestyles, deciding to live and work overseas for short or long periods of time, often moving from country to country."
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By GlobalDataHe explained: "As we understand it, all the other life term policies currently available to expats would restrict them from getting cover if they decide to live overseas for a while."
Gerry added: "This latest innovation is part of Expatriate’s mission to become a one-stop shop providing complete protection for expats, whether it be healthcare, life, travel, income protection, or all of these products."
