International Term Life Insurance
Protect Your Family No Matter What Happens
No one wants to consider what would happen to their family if the unthinkable were to happen. But knowing your loved ones are financially protected when you’re abroad can offer peace of mind for the entire family.
International life insurance policies ensure that in the sad event of death while living or traveling abroad, a lump sum is paid to members of your family. Domestic life insurance policies may not cover circumstances that happen overseas. For peace of mind for expats and travelers, you’ll need international term life insurance with a worldwide coverage.
Coverage Wherever You Are
We’ve partnered with Unilife to provide My Term Assurance, a portable expat life insurance coverage plan that meets your needs wherever you are in the world. Your beneficiary will receive a lump sum payment in the event of your death by any cause, including accidents.*
The simple application process is the first of its kind; offering international life assurance, with guaranteed premiums and cover, which can be purchased online quickly and easily, without the need for a medical examination.
International Life Insurance Benefits
Customize your expat life insurance policy and receive the following benefits:
- Your choice of currency: USD, Euros, or GBP
- Coverage ranging from $50,000 to $6,500,000 or currency equivalent
- If you become unable to work for six months or more, your premiums are waived**
- Beneficiaries can receive an additional lump sum with an add-on Accidental Death benefit
- Flexible payment options including annual, semi-annual, quarterly, and monthly
*Limits and restrictions apply. Subject to policy terms and conditions. Subject to certain country restrictions. Coverage is excluded in the United States and Canada and their territories and possessions.
**Waiver continues until you return to work or until the policy anniversary preceding 60th Birthday, whichever happens first.
If the My Term Assurance plan does not suit your needs, click the button below to complete the form and an adviser will contact you to assist further.
Simple, Transparent Pricing
The Clements standard premium accounts for age, gender, smoking status, nationality, country of residence, period of cover, and the desired sum assured. Standard premiums can be improved by a person’s socio-economic score, based on education and level of income. When you receive a global term life insurance quote from Clements, the price you see is the price you pay. There are no hidden or additional fees to pay, just the international life insurance policy you need.
Secure, Flexible Policies
Term life is life insurance coverage for an agreed-upon amount of time. Coverage starts from a 5-year term and goes all the way to a 30-year term. Other models include trusts, whole life, decreasing term, and short-term life insurance—which may only apply over a period of one year. Typically, term life is the most appropriate type of coverage and is the most affordable option for expats.
Regardless of the length of your policy, you can be sure that it’s secure and ready to deliver if required. Guardrisk Life International Limited issues all Unilife policies. Guardrisk is a wholly owned subsidiary of MMI Holdings, who is listed on the Johannesburg Stock Exchange. It operates in 18 countries, including South Africa, the United Kingdom, Hong Kong, and Singapore, and employs over 17,500 staff worldwide. Both Guardrisk and MMI are rated “Aaa” by Moody’s.
Frequently Asked Questions
We believe it's a good idea to have private coverage for a variety of reasons. More often than not, the insurance provided by an employer is not enough, and if you leave your current employment, you may lose that coverage.
Medical underwriting for international life insurance may be required, depending on the person's age, sum assured selected and where the person lives – all depending on the level of risk. The higher the risk, the more likely it is that medical underwriting will occur.
Please complete the applicable questionnaire on our website so we can better understand how often you do this, where and under which conditions in order for us to assess the risk correctly.
Any related third party such as your spouse, your company or your trust can own your term life insurance policy. If such a third party owns your policy, they will be recorded on your policy as the policyholder, while you will be recorded as the life assured.
Any related third party such as your spouse, your company or your trust can pay the premiums. If they are recorded as the Policyholder, you don’t need to do anything further. If not, please complete a Third-party payer form, which can be found on your policy portal.
Please complete a policy assignment form, which can be found on your portal.
The online application form provides for the appointment of beneficiaries. If you wish your Trust to be a beneficiary, simply record the Trust name in the relevant section.
You may at any time, and as often as you wish, appoint, change or remove as many beneficiaries as you like to your policy. To do this, please complete a Beneficiary Designation form available on your portal. The last updated nominations on record are assumed to be your appointed beneficiaries.
You may elect not to appoint any beneficiaries to your policy. In the absence of a will, it is generally preferable to have nominated beneficiaries to avoid legal difficulties that may arise if a claim is made. We would recommend that you discuss this with your personal financial planner.
In the case of a trust, we recommend that you seek advice from your personal financial planner for assistance and guidance based on your personal circumstances and needs.
Your beneficiaries should contact us and a Consultant Benefits representative will guide them through the process. Alternatively, please refer to the Individual claims process guide available on the website.
Please contact us and we will provide you with a copy.
Please contact us for assistance.
Yes you can. Please bear in mind, the additional cover applied for may be capped to comply with our maximum total benefits available. Please contact your financial advisor for advice in this regard.
Once your Policy has started, and as long as you pay all your premiums when they fall due, it does not matter which changes you make to your country of residence, lifestyle, occupation or travel obligations; your premium and cover will remain unaffected. They are guaranteed to remain the same for the duration of the Policy Term and cover you worldwide.
It is a good idea to keep us informed with your contact details of all times and you must inform us of any change to your country of residence or your occupation.
If you are not satisfied, please contact us either by telephone or email. We take client service and satisfaction very seriously and any concerns will be dealt with as quickly and efficiently as possible. If you ever need to make a complaint about your policy, please contact us in the first instance, using the address or the contact numbers overleaf. Details of our complaint handling process are available upon request.
You also have the option to make your complaint to the Financial Services Commission of Mauritius. You should obtain a Complaints Form from their website and submit this, with any supporting evidence of your complaint, to The Chief Executive Financial Services Commission, FSC House, 54 Cybercity Ebene, Mauritius
Once in force, any Unilife T100, Term Assurance or Decreasing Term Assurance premium is fixed and will not change throughout the term regardless of the country of residence, occupation and lifestyle changes.
We understand that sometimes there are circumstances beyond one's control, and we therefore provide a ninety (90) day grace period to make allowance for instances when you may not be able to pay your premiums on time. Any policy that exceeds 90 days in arrears will be cancelled, without any value. If you should die while your policy is in arrears but still in force, the policy benefits will be paid out, but we may deduct the overdue premiums from the policy benefits.
Any policy benefits paid will be paid to the beneficiary or beneficiaries without any deduction of tax. The tax treatment of any benefits taken from this policy will depend on the personal circumstances of the beneficiary or beneficiaries, including their country of residence at that time. We are unable to provide individual tax guidance and recommend that you always consult your financial adviser, insurance broker or tax adviser, particularly if you are in any doubt as to the extent to which you may be liable for any tax under this policy. If the policy is held in trust, then different taxation rules may apply.
The tax and legislative information contained in this document is based on Unilife Limited's understanding as of February 2017 and may change in the future.
Policy Coverage Chart
Our extensive coverage gives expats the flexibility they need.
|Minimum and Maximum Coverage||
Minimum Sum Insured US $50,000.00 or currency equivalent
Higher sums insured can be considered. Please call us.
|Waiver of Premium||Benefit waives regular premiums where the life insured is disabled and unable to work for a continuous period of at least six months. Policy premiums are waived until a return to work or until the policy anniversary preceding 60th Birthday of the life insured, whichever happens first.|
|Accidental Death||This Benefit provides an additional lump sum in the event of accidental death.
Benefit ceases at age 70.
|Premium Options & Frequency||
Annual, Semi-annual, Quarterly, and Monthly
Frequency premium loads:
Please note Premium frequency can only be changed at each policy anniversary. Payment Term Premiums are paid for the full term of the policy.
Non-payments may result in the cancellation of the policy.
US Dollars, British Pounds Sterling and Euros.
The choice of policy currency automatically determines the currency in which the benefits will be stated and paid. Premiums must be paid in policy currency.
|Minimum Premium Payment||
US $50 or the equivalent in Pounds Sterling or Euros.
(Applies to Annual & Monthly premiums)