life insurance from UK does it payout in Malta?

g4jnw Active member

93POSTS

11 years ago

As we are considering a move to Gozo and we have paid into life insurance in the UK for years I was wondering, as we will be a non resident in the UK if it affects the insurance and indeed the payout if needed?

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robpw2 ViP

1574POSTS

11 years ago

Check your policy but if you continue to pay the premiums it should still cover you , things like critical illness etc may not be available聽 but if in doubt you really should ring your insurance company

1 member reacted to this post

g4jnw Active member

93POSTS

11 years ago

can't see anything in the policy but its standard life insurance with Aviva without critical illness cover, will call them this week.

g4jnw Active member

93POSTS

11 years ago

Just as a feedback, just off the phone from Aviva and providing I continue to pay from a UK bank nothing is affected, which is great as it gives me piece of mind

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Toon Cyprus Expert

10235POSTS

11 years ago

We have ours with Legal and General and all is ok both here in Cyprus and in Malta too...

1 member reacted to this post

New Horizonz Serial expat

327POSTS

11 years ago

Just a thought:

I know car insurance is a lot cheaper here, is it possible that life insurance is equally cheaper here??

Significantly lower car insurance, even if that defies logic at first due to seemingly carzy driving style over here, is aparently because fatal accidents are rare due to relatively lower speeds.

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g4jnw Active member

93POSTS

11 years ago

interesting about car insurance!
I have had the life insurance since 2009 and am happy with it, wouldn't want to change it but thanks anyway

georgeingozo ViP

3703POSTS

11 years ago

New Horizonz wrote:
I know car insurance is a lot cheaper here, is it possible that life insurance is equally cheaper here??

.

life insurance is based primarily on life expectancy, the earlier you are expected to die, the sooner they pay out, so the more expensive it is - life expectancy is the same in Malta and the UK, so wouldn't expect big difference

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New Horizonz Serial expat

327POSTS

11 years ago

Life expectancy is only one facor in the equation. Operating costs, average salaries, rents, corporation tax regime can affect the premiums significantly.

My landlord in Malta has a fully comp car insurance and pays 80 euros a year in premiums = 拢60 pa

Who can get fully comp csr insurance for 拢5 per month anywhere in the UK?

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Toon Cyprus Expert

10235POSTS

11 years ago

#10

with respect New Horizons ...am finding that difficult to believe!!!!

one further note an accident is an accident but all have costs whether fatal or otherwise...... and i saw far too many of them on my stretch of road whilst living there 6yrs (Mellieha) to believe that the risk is less.....

tearnet ViP

2179POSTS

11 years ago

#11

New Horizonz wrote:
Life expectancy is only one facor in the equation. Operating costs, average salaries, rents, corporation tax regime can affect the premiums significantly.

My landlord in Malta has a fully comp car insurance and pays 80 euros a year in premiums = 拢60 pa

Who can get fully comp csr insurance for 拢5 per month anywhere in the UK?

Just proves that landlords will tell you anything!!!

1 member reacted to this post