Reader’s Question:

I will be traveling the Middle East for about six-months next year, would that in any way impact my life insurance coverage here in Texas?

Jared

Grand Prairie, TX

Interesting question. It is possible for your life insurance policy or premiums to be affected if you are traveling outside the country. Unlike moving from state to state within the U.S, there are many factors outside the country that may not be covered by a regular term life insurance or whole life insurance policy. Being an expatriate has many associated risks (both while traveling and while living in foreign soil) and this can be recognized by life insurance companies as beyond the level of protection or insurance coverage you currently have and therefore justify an additional premium.

It would depend on who your insurance carrier is if your rates and coverage will stay the same or go up (or coverage might not even take effect at all). If your insurance carrier there in Texas has global presence, then you may be able to get an international expatriate insurance policy which can come as a term life, decreasing life or whole life policy. It works the same way as any other life insurance but would mainly be for travelers and expatriates.

It would be advisable to contact your life insurance agent or your carrier directly to inquire if your current policy covers international travel or if you would have to buy a separate life insurance policy to cover you while abroad. Remember, regardless of where you are life insurance is very important, especially for those who rely on you financially.

Tags: Life insurance, International Life Insurance, Life Insurance Advise, Insurance Information, International Life Insurance