A) Lacking Coverage?
Too often we see that Expats do not have the preferred guaranteed Next of Kin pension or life insurance coverage.
Which is often caused by there being:
- No corporate coverage (any more);
- In the existing investment based coverage which often does not include a guaranteed Next of Kin coverage but only a modest investment capital based coverage.
Expats with a young family often prefer to have a regular guaranteed coverage if something might happen to them. Especially as governmental coverage often is not offered any more.
As a firm we strongly focus on our clients not having too high costs. In general it seems preferable to invest extra capital into Old Age Pension claims instead of paying additional risk premium for extra Next of Kin coverage. But if you really feel that you need more coverage, then it is perfectly fine to look into it. And to do it in a critical manner.
B) Analysis Current Situation
If you have the feeling that your existing coverage does not meet your needs, we will gladly assist and check among others the following questions:
- Would you qualify your Personal Risk Profile as Defensive/Neutral/Offensive?
- What is the exact amount/type/duration/exclusion of existing coverage?
- What would be the tax treatment of a pay-out?
- Does the existing coverage include a premium payment obligation?
- Can the existing coverage be extended if so desired and if not too expensive?
- Would the existing coverage remain intact if you were to relocate?
- Would there be an early and quick pay-out in case of a critical disease?
- What is the level of the General Conditions?
- What is the reputation of the current Provider?
- What is the chance that you will be employed by a company whose benefits include the usual fine corporate Next of Kin coverage?
- What is the level of your current private capital and expected growth thereof in the next 5-10 years?
In our English Life Insurance Memorandum we provide a complete oversight which includes:
- The personal facts and wishes;
- The options and details for coverage being Annuity/Lump Sum based on various amounts/durations;
- The amount of premium and coverage including tax treatment of both;
- Possibly existing medical questions/tests;
- Complete implementation.
If you might have any questions about your personal situation, feel free to call 0031 6 260 14 112 or mail to firstname.lastname@example.org
You are most welcome!