Expat Life Insurance News

Latest 10 news items tagged Life Insurance

25 Apr at 6 PM 2017

How to avoid common expat financial mistakes

Wherever in the world you’re planning to go and whatever your financial status, there are common money-related mistakes made by almost all expats when they move overseas. Obvious financial must-haves and must-do’s aren’t included here, as most expats are aware of the need to save as well as spend, plan for retirement and allow for unlooked for medical emergencies by having private insurance. Unfortunately, ignoring the less obvious errors of judgement can easily lead to money problems for even the most careful expatriate....
28 Feb at 6 PM 2017

New law enforces inheritance tax on UK expat properties

A new UK law due to be introduced on 6 April means the families of deceased UK expats will be forced to pay 40 per cent of total property and asset values in inheritance tax. The rule will apply to non-UK domiciled investors who’ve purchased UK property via an offshore corporate structure and will overturn previous laws on the issue. Prior to the new law’s introduction, property holdings acquired in this manner by non-domiciled UK citizens were exempt from inheritance tax when the expat owner dies. The offshore corporate structure...
6 Feb at 6 PM 2017

New FCA alert focuses on domestic and international investment irregularities

The British Financial Conduct Authority is planning to crack down on both domestic and international investments and pension transfers, in a move which may benefit expats in the UAE as well as in the rest of the world. Information on the long overdue move by the FCA comes in the form of an alert based on the growing number of expat investors being persuaded into unsuitable products or downright scams. Over the last decade, the worldwide Brit expat community, many of whom are retirees unused to investing, has been at risk from...
13 Sep at 6 PM 2016

Brit expats in Spain sue Rothschild over mis-sold equity release schemes

According to a recent article in the Sunday Times, a group of four expats living in Spain have filed a lawsuit alleging mistreatment in the matter of an illegal equity release scheme. The lawsuit due to be heard in Britain’s High Court is being seens as a test case for more than 800 British retirees in Spain, Portugal and France who were drawn into remortgaging their homes in order to re-invest the capital in offshore funds. Representatives of the unregistered financial advice company Henry Woods, blacklisted from operating in Spain...
15 Jul at 6 PM 2016

UK insurers pull out of expat health and life insurance

A recently-released survey of UK insurance companies has revealed that only 16 per cent now offer expat life insurance and only 8 per cent offer critical illness cover. The annual Expatriate Insurance Survey’s results make it plain that high-street insurers such as Friends Life, Aviva and Legal and General now have no interest in servicing expat life and health insurance needs. According to authors of the survey, Unusual Risks, there are a number of British expats’ groups with UK property, tax interests or outstanding mortgages...
17 May at 6 PM 2016

UK expat contractors with own companies face tax shock

New Inland Revenue regulations governing personal service companies may cause increased tax burdens for expat single owner businesses. The new tax laws, brought in on 6 April this year, will affect oil workers on contracts as well as other single-owner businesses.The focus of the changes is on the individual whose right it is to ‘supervise, control and direct’ (SDC) the contractor on-site, even if the right is not used. Should a third party have an SDC right, a raft of new tax measures will apply. Firstly, contractors working...
12 May at 6 PM 2016

EU plans for European personal pension under fire from insurance giants

A trade body serving the insurance and pensions industry has attacked the EU’s plan to introduce a Europe-wide personal pension. The EU’s new personal pension proposal would benefit not only EU citizens but also expats living, working or retiring in EU member states. On offer to consumers would be the same benefits at the same cost, irrespective of their country of residence. Presented as the Pan-European Personal Pension (PEPP) it’s offered by the European Insurance and Occupational Pensions Authority and would mean pension...
12 Apr at 6 PM 2016

Expats in UAE unprepared for rainy day scenarios

A new study by HSBC reports that expats living and working in the UAE are the least financially prepared for illness, death and other disasters. The international bank’s Confidence in the Future report may well have been undertaken to boost its sales of life, health and other such insurances, but it casts a dim light on UAE expats’ sense of responsibility to their nearest and dearest. Apparently, 65 per cent of expats surveyed expected a third party to provide for their families in the event of their being unable to work....
1 Sep at 6 PM 2014

LM expat investors launch lawsuits against FAs and insurers

Expatriates who lost millions due to the failure of the massive LM Managed Performance Fund, now declared a Ponzi scheme, are banding together to take legal action against dodgy FAs, pension fund trustees and their associated offshore life insurance firms. The LM scandal is now regarded as the offshore financial industry’s biggest mis-selling scam in several decades. Overall losses across Asia are estimated in the hundreds of millions, with many smaller investors now bereft of their life savings and pension income. Recent online...
25 Jul at 6 PM 2014

Price comparison sites using shady tactics to make you buy

Expat online shoppers are being warned to watch out for online shopping tricks on price comparison websites. Almost all expats, wherever in the world they’re located, find themselves using online sites to order items they can’t find in their host countries. Whether it’s foodstuffs, pharmaceuticals, comfortable clothes or shoes in expat sizes or the latest in technology at the best price, online shopping is a way of life in the 21st century. Other favourite online purchases include health and life insurance, and offshore...