Protect Your Loved Ones with a Global Life Plan
This article explains how these global plans work, who they are for, the main types of policies, key benefits, and how to determine the coverage you need. You’ll also find practical examples, insights into premium calculations, and information on leading providers to help you choose the right plan for your situation.
Living, working, or spending significant time abroad comes with unique challenges, including ensuring your loved ones are financially protected. International life insurance provides coverage for individuals with global lifestyles, offering peace of mind that your beneficiaries will be supported, wherever you are.
This article explains how these global plans work, who they are for, the main types of policies, key benefits, and how to determine the coverage you need. You’ll also find practical examples, insights into premium calculations, and information on leading providers to help you choose the right plan for your situation.
Moving Abroad? Make Sure Your Life Insurance Moves With You
Secure financial peace of mind with international life insurance tailored for globally mobile individuals and families. Get expert advice and compare top-rated plans today.
TL;DR—Key Takeaways
- International life insurance ensures your beneficiaries receive financial support wherever you live, work, or travel.
- Choose from term life, whole life, or renewable plans, with add-ons like accidental death, disability, or critical illness riders.
- Plans are designed for globally mobile individuals, allowing coverage to follow you across borders and premium payments in different currencies.
- The right coverage depends on immediate, ongoing, and future financial obligations, from funeral costs and mortgages to education and retirement planning.
- Leading insurers like Unisure, William Russell, and Atlas Life offer reliable global life plans backed by strong financial ratings and international expertise.
What Is International Life Insurance?
International life insurance is a policy that provides financial protection to your beneficiaries across borders.
It works like a plan you would purchase in your home country, whereby you pay regular premiums, and the insurer guarantees a death benefit when you pass away.
These global plans are designed for individuals whose lifestyles take them beyond a single country, including expatriates, frequent travelers, and those with global connections.
The unique advantage of a global policy is that it provides worldwide coverage. Unlike a domestic plan, it ensures your beneficiaries receive the death benefit even if you die overseas.
If you already have a life insurance policy and plan to move abroad, review it carefully. Any exclusion for death outside your home country could leave your loved ones unprotected.
In that case, purchasing an international plan ensures your beneficiaries remain financially secure, wherever you may be.
Key Benefits of Global Life Insurance
The Different Types of Global Life Insurance
Expatriates typically have two main options when considering a policy: term life and whole life.
Term life plans are the most popular among expats and global travelers due to their economical premiums and flexible coverage terms.
Whole life plans provide lifetime coverage with a guaranteed death benefit. They are often chosen by expatriates concerned about future health changes who fear they may not qualify for a policy later.
Already have life insurance? Read about The Importance of a Life Insurance Review for Expats to learn why you might need a global plan.
Term Life
Term life insurance is a straightforward policy with level premiums and a consistent death benefit. Coverage durations typically range from 5 to 30 years, after which the policy expires.
Most term life plans are not renewable, so if you need further coverage after your term ends, you must purchase a new policy.
Our providers, Unisure and William Russell, offer an annual renewable plan – continue reading to learn more.
The sum insured, or death benefit, is only paid to the beneficiary if the policyholder dies while covered under a term life plan. If the policyholder is still living after their coverage term ends, no death benefit is paid, and premiums are not returned.
Whole Life
Whole life insurance provides permanent coverage for the policyholder’s entire lifetime. As long as the policyholder continues to pay the premiums, the coverage remains in force until death.
While whole life plans are generally more expensive than term life plans, they offer the peace of mind that the death benefit is guaranteed to be paid out to the beneficiaries when the policyholder passes away.
This permanence and financial security are some of the key advantages of a whole life plan, making it a popular choice for individuals who want lifelong coverage and value the certainty of a payout.
Moving Abroad? Make Sure Your Life Insurance Moves With You
Secure financial peace of mind with international life insurance tailored for globally mobile individuals and families. Get expert advice and compare top-rated plans today.
How Much Life Insurance Do You Need?
Determining how much coverage you need depends on your individual financial circumstances, responsibilities, and goals.
Consider what your family would need if you were to die today to cover immediate, ongoing, and future expenses.
There is no one-size-fits-all answer, but the following factors can help you calculate your coverage needs.
Immediate Cash Needs
- Funeral Costs
- Loans
- Medical Bills
- Mortgage
- Legal Fees
- Debt
- Estate Duties
Ongoing Cash Needs
- Food
- Housing
- Healthcare
- Utilities
- Transport
- Insurance
- Schooling
Future Cash Needs
- Tertiary Education
- Spouse Retirement
When calculating how much coverage to purchase, consider the resources you already have in place, such as your spouse’s income, savings, investments, and any existing policies.
The difference between these resources and your family’s needs is your coverage gap.
Immediate Cash Needs
Funeral Costs
Loans
Medical Bills
Mortgage
Legal Fees
Debt
Estate Duties
Ongoing Cash Needs
Groceries
Housing
Healthcare
Utilities
Transport
Insurance
Schooling
Future Cash Needs
Tertiary Education
Spouse Retirement
Helpful Calculation Tip
While calculating how much coverage you should purchase, consider what resources you already have in place. For example, your spouse's income, savings, investments, and any life insurance plans you already have. The difference between these is your coverage gap.
How are International Life Insurance Premiums Calculated?
Premiums are calculated based on several factors, similar to domestic life plans. This helps providers assess the risk associated with insuring an individual living abroad and determine a fair premium.
Some of the key factors that influence the calculation of premiums are age, nationality and country of residence, coverage amount and term length, lifestyle habits such as smoking, and whether you include any additional riders.
Below are some helpful examples based on expatriates who have purchased a global policy.
Ben E. Ficiary, a 28-year-old U.S. citizen, is moving to France for a job opportunity and plans to travel around Europe.
He purchased a 30-year term life plan with a $250,000 death benefit and AD rider. Each month, Ben will pay $39.78.
Ann Uity is 35 years old and married with two young kids. Her family is moving from Spain to Thailand for 5 years to experience a new lifestyle.
Ann purchased a 5-year term life plan with a $1M death benefit. Each month, Ann will pay $74.66.
Bill and Sara N. Surance are 65-year-old Irish citizens retiring overseas in Panama. They purchased a yearly renewable joint life plan.
For a $100,000 death benefit policy, Bill and Sara will pay $49.71 per month for the first year.
Our Global Life Insurance Providers
Our partners, William Russell and Unisure, are two distinguished life insurers known for their commitment to offering comprehensive and reliable solutions to individuals and families worldwide.
With a rich history and a strong reputation for excellence in the insurance industry, both providers share a common goal: to provide their clients with peace of mind and financial security.
Unisure Global
Unisure is a leading provider in the international life insurance industry.
All Unisure life policies are primarily reinsured by Scor, the world's fourth-largest reinsurance company and the largest in the United States.
Scor is rated A+ by Standard and Poor's and A1 by Moody's, reflecting its strong capacity to meet financial commitments.
Unisure's most popular plan among expatriates is its Term Life plan. They also offer Decreasing Term, Life or Critical Illness, Whole Life, and an annually renewable life plan called Global Protector.
Unisure's individual plans can include additional rider benefits, such as Accidental Death and Waiver of Premium riders.
If you are interested in a global policy from Unisure, click the Get a Quote button below, and our expert representative will provide an accurate quote.
Unisure Life Insurance
- Fairly priced and supported by first-class service.
- Coverage is guaranteed for the entire policy term.
- Insure your life up to $6.5m.
- U.S. coverage valid when issued prior to entry
William Russell
William Russell is a leading provider in the global life and international health insurance industry.
It is an excellent choice for expatriates looking to purchase both life and health, as the plans can be included in one policy.
William Russell's Personal Protection plan is an annually renewable term life plan. Applicants can include an Accidental Death benefit rider and an Income Protection benefit rider.
The Income Protection rider can also be purchased as a separate policy by those looking to protect themselves in case of short or long-term disability abroad.
If you are interested in William Russell's Personal Protection plan, click the Get a Quote button below, and our expert representative will generate an accurate quote for you.
William Russell Life Insurance
- Cover when living & working abroad.
- Insure your life up to $2m and safeguard your family’s financial future.
- Insureds can include expat income protection insurance in their policy or purchase as a standalone policy.
Atlas Life
The Atlas Life Insurance plan offers comprehensive international coverage designed for globally mobile individuals seeking long-term financial protection, no matter where they live.
The plan includes a lump sum death benefit and an automatic terminal illness benefit if diagnosed. You can enhance your policy with optional critical illness and disability benefits for additional peace of mind.
These added protections help safeguard your finances in the event of serious illness or injury and are available when bundled with life coverage.
Atlas Life Insurance
- Fixed Term lengths between 5 and 35 years and Defined Term length to age 80, 90, or 99.
- Level premium with option to add premium guarantee.
- There is no maximum cover limit.
- Option to include Disability and Critical Illness cover.
International Life Insurance for Groups and Employers
An international group life insurance policy is an enticing incentive to attract and retain your top employees.
It is particularly valuable for a global workforce that might not have access to the full array of benefits provided to local staff.
Your team will undoubtedly value the supplementary advantages, including:
- A choice of Whole and Term Life options
- Tailored to meet the unique needs of international employees, remote teams, and expatriates
- Comprehensive coverage for both illness and accident-related fatalities
- Flexible terms ranging from one to 25 years or more
- Global protection that transcends borders and boundaries
Our Recommended Global Life Plan for Groups
William Russell Group Life Insurance
- Cover up to 10x an employee's salary (up to $2M maximum)
- Guaranteed option to increase benefit at renewal
- Early payout for terminal illness
- Worldwide cover
Frequently Asked Questions
International life insurance provides coverage and financial protection to individuals who live or work in a foreign country or have ties to multiple countries.
This insurance is designed to offer policyholders and their beneficiaries financial security in the event of the insured individual's death, regardless of where that event may occur globally.
These global plans can be tailored to meet the unique needs of expatriates, global travelers, and individuals with international connections.
It can help cover expenses such as repatriation, estate planning, and maintaining a consistent standard of living for beneficiaries.
Expatriates and global travelers might need a global life plan if their domestic life plan does not provide coverage for death abroad.
These plans ensure that loved ones are financially protected, regardless of the policyholder's location.
It's important to work with an experienced insurance advisor or financial planner when considering a global life plan, as individual needs and circumstances can vary greatly.
If you want to procure a plan, click here for a free quote!
Insurers offer various global life coverage options designed for individuals with international lifestyles.
These policies provide tailored financial protection and peace of mind for those who live, work, or have financial interests in multiple countries.
Common options include term life, whole life, and renewable term policies.
Policyholders can choose to pay their international life insurance policy monthly, quarterly, semi-annually, or annually.
They also have the option to pay in USD, EUR, or GBP. The selected premium currency is typically the same as the policy's death benefit.
It's essential to read and understand the terms and conditions of your global life policy regarding premium payments.
Consistently paying premiums on time is crucial to maintaining coverage and ensuring that your loved ones receive the intended benefits in the event of your passing.
Your global life policy should generally remain in force as long as you continue to pay your premiums, regardless of where you live.
It's crucial to inform your insurer about changes in your country of residence. They need to be aware of your change in residence to ensure your policy remains compliant with local regulations and to make any necessary adjustments to your coverage.
Yes, you can name beneficiaries who live in different countries.
The life insurance provider will pay the death benefit to your beneficiary or beneficiaries in the country where they are currently residing.
The insurer does not tax the death benefit when it is paid. However, different countries may have legal or tax rules that could affect the payout, so beneficiaries should be aware of these regulations.
Tax treatment of international life insurance death benefits can vary depending on the country where your beneficiary or beneficiaries reside at the time of your death.
The life insurance provider will not tax the sum insured at the time of payout.
You should consult legal and tax advisors in your beneficiary’s country of residence to understand any applicable laws or tax obligations.
Moving Abroad? Make Sure Your Life Insurance Moves With You
Secure financial peace of mind with international life insurance tailored for globally mobile individuals and families. Get expert advice and compare top-rated plans today.
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About the Author:Mackenzie Manning, Director of User Experience at International Citizens Insurance, specializes in optimizing customer journeys and providing seamless experiences for clients seeking international insurance solutions. With expertise in global health, life, and travel insurance, she helps expatriates and global travelers find the right coverage, ensuring a smooth, informed decision-making process for their international needs.