Ex-Pats Should 'Consider Life Cover'

 

Expats have been urged to consider life assurance to help their loved ones financially in the event of their death.

Property Report Asia has claimed that although moving abroad is as popular as ever, many people are failing to protect their finances when doing so.

The expat property portal warned that in the event of death, reclaiming money and assets can be a protracted and complicated process taking upwards of a year.

"The bills keep coming in, school fees still need to be paid, and in many cases the surviving partner will not be able to generate an income level sufficient to meet initial and ongoing needs," the site commented.

For these reasons, expats considering a move overseas were urged to check whether any existing life cover is still valid overseas or whether a dedicated policy is needed.

Earlier this year, the regional property portal advised expats considering a move overseas that while the market as a whole has taken a beating, property stocks, funds and real estate investment trusts can still deliver strong returns.