Introduction
Moving abroad is one of the most significant financial events in a person's life — and one that creates more protection gaps than almost any other. UK group schemes end. State benefits disappear. Local policies may not follow you when you move again. Wills become invalid. Powers of attorney cease to work.
This checklist is designed to help internationally mobile individuals and their advisers identify what is in place, what is missing, and what needs to be updated. It covers 28 specific points across seven areas: life assurance, critical illness, income protection, private medical insurance, legal documents, business protection, and ongoing review.
Work through the checklist systematically. Any item marked as an issue should be addressed as a priority.
Section 1: Life Assurance
1. Sum assured: is it adequate for current dependants and lifestyle?
Calculate the sum needed to provide for all dependants until they are financially independent. Include:
- Income replacement (typically 10–20× annual earnings, depending on the ages of dependants and the expected dependency period)
- Repayment of all outstanding mortgages and significant personal debts
- Education funding for dependent children
- Any specific legacies or obligations
Review trigger: any significant change in income, dependants, or debt levels.
2. Policy validity: does the existing policy remain valid in your current country of residence?
Check whether any UK or other domestic policies include residency conditions. Contact the insurer in writing to confirm the policy remains fully valid and that your change of country of residence has been noted.
Risk: policies that have not been notified of a change in residency may be voidable on claim.
3. Currency: is the death benefit in the right currency for your estate liabilities?
If your major liabilities (UK property mortgage, UK estate, trust distributions to UK beneficiaries) are in sterling, a USD or EUR policy introduces currency risk. Review whether the policy currency matches the currency of the intended use of the death benefit.
4. Policy ownership and trust structure: is the policy written in an appropriate trust?
A policy not in trust pays into the estate — subject to probate, to IHT, and potentially to the deceased's creditors. Confirm that any significant life policy is written in an appropriate trust that will operate correctly in the current jurisdiction.
5. IHT cover: is there a policy specifically to fund the anticipated IHT liability?
If you are UK-domiciled and your estate is above the nil-rate band threshold, calculate the approximate IHT liability and confirm whether there is a specific policy (whole-of-life, in trust) designated to fund it. The general life cover sum may not be sufficient for both income replacement and IHT funding.
6. Beneficiary nominations: are they current and correct?
Confirm the current nominated beneficiaries on all life policies. Check whether they reflect your current family and estate intentions. Update as needed.
Section 2: Critical Illness Cover
7. CI cover: do you have it, and does it cover you internationally?
Critical illness cover pays on diagnosis of serious conditions — cancer, heart attack, stroke, and others. Many UK CI policies cease or become invalid on long-term relocation. Confirm current policy status.
If no CI cover: as an expat without NHS access, a serious illness means privately funded treatment. The costs can be catastrophic without CI cover providing capital.
8. Sum assured: is it sufficient to cover treatment costs and income disruption?
The CI lump sum should be sufficient to: fund major private medical treatment (potentially £50,000–£500,000 for cancer treatment abroad); replace income during recovery; repay any debts that would otherwise default.
9. Conditions list: does the policy cover the conditions most relevant to you?
Review the conditions list carefully. Does it include all the conditions you would consider material? Are the definitions of cancer, heart attack, and stroke appropriate? Are partial payment conditions included for early-stage diagnoses?
10. Pre-existing condition exclusions: do any exclusions significantly limit the cover?
If any significant exclusions were applied at underwriting, assess whether those exclusions still represent the major risk or whether the policy covers the conditions most likely to affect you.
Section 3: Income Protection
11. IP cover: do you have income protection, and does it cover international residency?
Confirm whether any existing IP policy is valid in your current country of residence. Many UK IP policies exclude income earned abroad.
If no IP cover: for self-employed expats or expats in roles without employer sick pay, an inability to work for 6–12 months is a financial catastrophe. IP cover provides the monthly income floor to prevent this.
12. Deferred period: is it appropriate for your cash reserves?
How many weeks of incapacity can you fund from savings and other income before you need the IP policy to start paying? Ensure the deferred period matches this gap — no shorter (you are paying for cover you do not need) and no longer (leaving you exposed).
13. Policy basis: indemnity or agreed value?
For self-employed clients, confirm the policy is on an agreed value basis. An indemnity basis policy may pay far less than expected if income fluctuates.
14. Incapacity definition: own occupation?
Confirm the policy uses an own occupation definition — the most favourable for professional and skilled workers. Suited occupation and any occupation definitions are not appropriate for most self-employed or specialist professionals.
Section 4: Private Medical Insurance
15. IPMI: do you have International Private Medical Insurance?
Without NHS access, IPMI is essential for most expats. Confirm you have current cover appropriate for your country of residence and your likely need for medical treatment.
16. Coverage geography: does the cover include your country of residence and likely treatment locations?
Some IPMI policies exclude the USA or specific regions. Confirm that your cover extends to all countries where you might plausibly require treatment.
17. Annual and lifetime limits: are they adequate for a major illness?
Cancer treatment can cost £100,000–£500,000+ over several years. Confirm the policy's annual and lifetime limits and assess whether they are sufficient for a major illness.
18. Relationship between IPMI and CI: do the two products work together?
IPMI pays for treatment; CI provides capital for income replacement, additional costs, and discretionary spending during illness. Confirm both are in place and that neither has gaps that leave you exposed.
Section 5: Legal Documents
19. Will: do you have a valid will in every jurisdiction where you hold significant assets?
A UK will may not automatically be recognised or effectively enforced in a foreign jurisdiction. For each country where you hold significant assets (property, business interests, bank accounts), confirm that there is a valid will or that the UK will explicitly covers those assets under applicable law.
20. Forced heirship: does your will take account of forced heirship rules where applicable?
In France, Spain, parts of the Middle East, and several Asian jurisdictions, certain heirs have mandatory legal rights to a minimum share of the estate, regardless of the will. Confirm that your estate planning takes these rules into account.
21. Lasting Power of Attorney (UK): is it in force and registered?
A UK LPA for property/financial decisions and health/welfare decisions should be in place and registered with the Office of the Public Guardian. Check it has been registered — an unregistered LPA cannot be used.
22. Powers of attorney in other jurisdictions: are they in place where needed?
For each country where you hold significant assets or could plausibly require medical treatment, confirm whether a local power of attorney (or equivalent) is in place. This is particularly important for:
- Property in EU countries (Spain, France, Cyprus, Greece)
- UAE (DIFC Wills for non-Muslims)
- Thailand (assets in your own name may require local POA)
23. Trust documentation: are trust deeds, trustee lists, and beneficiary nominations current?
If any assets or policies are held in trust, confirm that the trust deed is current, the trustees are correctly identified, and the letter of wishes reflects your current intentions.
Section 6: Business Protection (if applicable)
24. Key person cover: is there a policy protecting the business against your absence?
If your business depends significantly on your skills, relationships, or knowledge, confirm that a key person policy is in place — or that the business has assessed this risk and decided it is acceptable to self-insure.
25. Shareholder protection: if you have co-shareholders, is there a shareholder agreement and supporting insurance?
Confirm that a shareholder or partnership protection policy is in place and that the shareholder/partnership agreement provides for a buyout at an agreed formula if you die or become critically ill.
26. Business loan protection: are all personal guarantees covered?
List all business loans, overdrafts, and credit facilities for which you have provided a personal guarantee. Confirm that a policy exists for each, with a sum assured at least equal to the outstanding guaranteed amount.
Section 7: Valuation and Ongoing Review
27. Last full review: when was your protection last comprehensively reviewed?
If you cannot recall a comprehensive review of all protection policies within the last 3 years — including confirmation of policy validity, sum assured adequacy, premium competitiveness, and beneficiary nominations — arrange one now.
28. Adviser relationship: do you have a qualified international protection adviser?
A UK-based financial adviser who has not dealt with international protection before may not be familiar with Isle of Man-regulated providers, offshore trust structures, or the specific needs of internationally mobile clients. Confirm your adviser has relevant international protection experience.
Next Steps
If you have identified gaps or uncertainties in any of the 28 areas above, the next step is a structured protection review. A review with a qualified international protection adviser takes approximately 60–90 minutes and provides:
- A comprehensive assessment of all existing policies
- An identification of gaps against your current needs
- Recommendations for any new or replacement cover
- A cost estimate for addressing the identified gaps
At Global Investments, we conduct protection reviews for internationally mobile clients across all major markets. We are independent — not tied to any provider — and will tell you honestly whether you need to act.
Book a free protection review to discuss your requirements.
How Global Investments Can Help
With over 32 years advising internationally mobile clients across wealth management and protection, we understand the specific vulnerabilities that arise from living and working across multiple jurisdictions. Our protection review process is designed to identify every gap — not just the obvious ones — and to provide clear, honest recommendations for addressing them.
This checklist is for general guidance only and does not constitute a personal recommendation. Every individual's circumstances are different — always take independent, qualified advice before making changes to your protection arrangements.
Frequently Asked Questions
Why do expats need a different protection review to UK residents?
UK residents have access to the NHS, state benefits, and a straightforward single-jurisdiction legal framework. Expats typically have none of these: no NHS, no meaningful state sick pay or disability benefits, and legal obligations spanning multiple countries. A protection review for an expat must consider: which country's law applies to each asset; whether existing UK policies remain valid; whether new international policies are needed; whether wills and powers of attorney are valid in the relevant jurisdictions; and whether trusts are structured to work across borders. The gap between UK residents and expats in terms of protection adequacy is very large.
How much life cover does an expat need?
As a starting point, most financial advisers recommend a sum assured sufficient to: (1) replace income for the period needed to provide for dependants (typically 10–20× annual earnings for young families with long dependency periods); (2) repay outstanding mortgages and significant debts; and (3) fund any specific obligations such as children's education costs. For HNW clients, an additional element covering the anticipated inheritance tax liability is often appropriate. The right sum is specific to individual circumstances — a needs assessment taking into account dependants, debts, income, and estate value is the correct starting point.
What is a Lasting Power of Attorney and does a UK one work abroad?
A Lasting Power of Attorney (LPA) is a legal document authorising a named person to make decisions on your behalf — either financial decisions or health and welfare decisions — if you lose mental capacity. A UK LPA is only automatically valid in England and Wales. In Scotland, Northern Ireland, and foreign jurisdictions, it may need to be separately recognised or re-executed under local law. For expats with assets in multiple countries, a separate power of attorney in each jurisdiction is often required. Some countries (UAE, Thailand, Spain, Greece) have their own equivalents with different requirements.
Do I need a new will when I move abroad?
Almost always yes. A UK will may not be valid in another country, or may need to be proved through a complex international probate process. Succession law in many countries (France, Spain, parts of the Middle East, many Asian jurisdictions) includes forced heirship rules that override the wishes expressed in a foreign will. An expat living in Spain, for example, needs a Spanish will (or at minimum, a will that explicitly elects English law under the EU Succession Regulation) to ensure their Spanish property passes as intended. Similarly, UAE succession for non-Muslim expatriates may require specific DIFC wills or statutory declarations.
How often should I update my beneficiary nominations on life insurance policies?
Beneficiary nominations should be reviewed whenever a major life event occurs: marriage or remarriage, divorce or separation, birth of a child, death of a nominated beneficiary, or a significant change in your estate structure. A nomination that was appropriate when you took out the policy may now be completely wrong — directing substantial sums to an ex-spouse, for example, or failing to include children born after the policy was arranged. Set a calendar reminder to review nominations every 2–3 years even without a specific trigger.
This guide is for general information only and does not constitute financial or insurance advice. Policy terms, premium rates, and insurer eligibility criteria change — always verify current terms with a qualified independent adviser before taking out any policy.