Life insurance provides your loved ones protection from financial hardship in the event of an unfortunate accident—but do you know if your current policy provides coverage if you die abroad? The answer may not be as simple as it seems and depends on several factors. Domestic life insurance policies will most likely not cover you if you relocate abroad or even travel to certain countries. To avoid causing your family financial hardship, and to give your loved ones protection and security in the event of your death, international life insurance is essential for anyone going abroad.

At ASA, we’re here to guide you through the many international life insurance plans available to find the policy that fits your unique needs and circumstances.

Understanding when life insurance is necessary

Rates generally increase with age so the earlier the better when it comes to purchasing international life insurance. When you purchase a term policy for a certain amount of time, you lock in the premium for the duration of that term. For example, if you purchase a 10-year term policy, you’ll lock in the premium for 10 years. Some policies also guarantee the same premium for life. However, if you find yourself getting a late start on purchasing a life insurance policy, don’t worry. Just because you put off purchasing plans until you’re older, doesn’t mean you can’t buy international life insurance at an affordable price. We can help you explore your options and find the right policy for you.

Finding the right amount of life insurance

The amount of life insurance you should buy varies for every person and depends on several factors, including age, income, debts, funeral expenses, and the ages of your spouse and children. If you have no dependents and have enough assets to cover the costs of funeral expenses, you may not need as much life insurance as someone with several dependents. If you have questions regarding how much life insurance to purchase, we can help you find the answers and get the right amount of coverage for your individual circumstances.

How traveling abroad impacts international life insurance

With most international life insurance plans, some countries will be excluded from coverage due to factors such as terrorism or war. Some specialized policies will cover these countries; however, the cost is higher. Any limitations or exclusions in a given policy are disclosed at the time of proposal and referenced in your policy documents.