# International Life Insurance



## emembeth (Jan 31, 2009)

Firstly hi, sorry to join and start asking questions straight away...

My husband has life insurance through work but we would like an additional joint life insurance policy.

We are from UK living in USA. We can no longer get basic life insurance through a UK company. We would like joint international life insurance through a primarily UK based company but am struggling to find much info.

Any recommendations?

Thank you!


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## Bevdeforges (Nov 16, 2007)

Hi, and welcome to the forum. Questions are why we're here - so ask away.

I'm no expert on the subject, but I think you'll find that "international life insurance" doesn't really exist (or if it does, it's hard to find). Problem is that there is a very different notion of what constitutes "life insurance" between the US and some other countries, especially those in Europe.

In the US, life insurance is generally purchased to provide money to survivors in the family when a primary breadwinner dies - usually to keep the home running and/or to provide for funeral expenses and putting the kids through university.

In Europe, "life insurance" is very often a type of long-term investment fund, that often pays out when the insured takes their retirement, though it's certainly available should the insured die prematurely.

You might want to find yourself a good independent agent (i.e. one not tied to one particular company) and discuss exactly what type of "life insurance" you are looking for. It's possible that the type of policy you're looking for may not be available in the US as "life insurance" but rather as some sort of investment vehicle. Or it may not be available at all in the US. (An expat friend of mine found that she could not get a US life insurance policy on her French husband at all so long as they are resident in France.)
Cheers,
Bev


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## synthia (Apr 18, 2007)

I think you have to get life insurance where you live, but it will stay with you. For instance, if you had had a separate private policy before you moved to the US, you would still have it. The US has life insurance that is both a savings vehicle and insurance, but it isn't generally considered a smart option. The common opinion is that insurance should be insurance, and investments should be investments. Term insurance, which is only to provide for your survivors if you die, is much cheaper than what are called whole life policies. You can take the money you would spend on whole life, and get a much higher level of insurance, or invest or spend the difference. My experience is that insurance salespeople always push a combination insurance/investment policy. 

There should be books in the library on personal financial planning that will tell you about life insurance in the US. Or try some financial planning websites. Try Suze Orman.


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