Expat Life Insurance News
Latest 10 news items tagged Life Insurance
18 Apr at 6 PM 2018
A British pensioner living in Malaga’s Alhaurin el Grande has been refused an insurance payment for her storm-damaged gate.
British expats moving to Mediterranean retirement hubs are often concerned about the reputations of European insurance companies, whether for health, home coverage or life insurance
. There’s the language problem to be dealt with, and making a claim is often a nightmare for elderly expats. Even using insurers linked to or recommended by a local bank can go wrong, as 80-year old Sylvia Rush found when her gates...
31 Jan at 6 PM 2018
In spite of UAE regulations on compensation for financial irregularities involving investments, expats in the UAE are still at risk from dodgy IFAS.
A recent report in Dubai’s English language media confirms many expats living and working in the Emirates are losing tens of thousands of dirhams to unprincipled independent financial advisors. One British lawyer who’s lived in Dubai for 11years tells it like it was when, around a year after he’d arrived, he was mis-sold a regular savings pension plan by a rogue expat presenting...
9 Nov at 6 PM 2017
The British boss of a failed pension advisory company has fled to Australia after losing his British expat clients some €20 million by the use of an all too familiar scam format.
The 300 Brits who’d invested with Alicante-based Continental Wealth Management are mostly expats living in the popular Spanish resort of Alicante, and are now struggling to retrieve their lost money after the IFA firm closed its doors in September and its CEO Darren Kirby left for Australia with his ill-gotten gains. Those affected, spread across Spain...
6 Oct at 6 PM 2017
With retiring outside the home country becoming ever more popular, it’s common sense to be aware of protocols needing to be followed when a UK citizen dies abroad.
Death isn’t considered a suitable topic of conversation for many, including elderly expats, but according to the old saying it’s as inevitable and unavoidable as income tax. At least for the sake of their friends and families, older expats should at least leave a list of must-dos in the event of their demise. After all, there are only two options to be decided,...
1 Aug at 6 PM 2017
The UAE’s Central Bank is being praised for its recent clampdown on the mis-selling of unsuitable investments to the emirates’ expat community.
The Central Bank began its attack on unscrupulous sales of dodgy investment plans to its expat population by instructing finance companies and banks under its jurisdiction to amicably settle mis-selling complaints within a period not exceeding 90 days. The notice was issued in response to the ever-increasing number of complaints about investment and savings products being offered to...
25 Apr at 6 PM 2017
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
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
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
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
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...