What should I do if I have a Life insurance policy from the UK?
Following Brexit, the UK’s relationship with the EU has changed, and expat residents should realise that this new situation could have an effect on their life insurance policies or pensions, for example.
In some cases, you will be able to keep your life insurance policy even if you have moved to another country, as long as you continue to pay your premium from a UK-based bank account. This will mean retaining your account in the UK. In some cases, some insurers may also require proof that you still hold a valid UK address.
When in doubt, the European Insurance and Occupational Pensions Authority (EIOPA) advises all expats living in the European Union to pay close attention to the small print in their policies. Particularly, those who took out life insurance policies with an authorised insurer in the UK or Gibraltar and have ordinary residence in Spain now.
EIOPA suggests contacting your UK or Gibraltar insurance provider. You should know if they have put in place measures to ensure that your policy will continue to be maintained while you reside in Spain. Or, if there might be any obstacles in maintaining your policy or other ongoing services here.
Aware of this fact and striving to make life a little easier for all UK citizens who find themselves in this situation, Generali has designed its life insurance cover to meet these new needs.
With policies available in English, excellent premiums and additional discounts, life insurance from Generali can be taken out from as little as 10 euros per month.
The advantages of having life cover with Generali really are extensive, leaving policyholders safe in the knowledge that nothing will prevent them and their loved ones from being protected.
For example, the upper age limit regarding death cover has now been extended to 70 years of age, and the upper age limit for renewals is now 80 years of age. Generali also offers a capital advancement to cover burial expenses and inheritance tax payments – and, upon death, beneficiaries receive 100% of the contracted capital as standard, regardless of the cause of death.
What’s more, life cover with Generali now boasts a wide range of additional new extra options too. For example, you can take out extended cover for repatriation to any country; and, if you have children under the age of 18, beneficiaries can receive double the insured capital in the event of death of both spouses in the same accident, without having to take out an additional policy.
There is also new cover for serious diseases for women (such as malignant tumours in the breast, uterus, etc.). As well as cover for other serious diseases for both genders (such as myocardial infarction, by-pass, coronary artery surgery, kidney failure, among others.)
For the convenience of our customers, life insurance policies from Generali can now be fully taken out online, in English and without the need for copious amounts of paperwork or signatures. All you need is a mobile phone and an email address.
Not only that, but for your peace of mind and privacy, Generali brokers and agents never retain any paper documents with information pertaining to your health themselves. Privacy is respected and guaranteed, and certificates are issued digitally by an external party.
With this new, more modern and more professional online sign-up service, taking out a life policy with Generali is completely secure. The application process is verified through a digital signature with a PIN sent to the customer by SMS mobile text message. The whole process is quick and easy, with a shorter and simplified health screening questionnaire. Plus, once again, it’s all in English.
At Generali, we understand the importance of securing your future with the right insurance cover. Our commitment to providing personalised solutions extends to our tailor-made insurance policies, which offer exceptional benefits at affordable prices.
For expert advice, simply contact one of our over 200 expat brokers and agents. These qualified professionals have the knowledge to provide personalised advice tailored to your specific circumstances. Fluent in several languages, our brokers and agents provide friendly and expert recommendations on the most appropriate insurance cover and options.