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Life Insurance and Income Protection For Australian Expats Living Overseas

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    Life in a new country has it’s challenges. Being insured doesn’t need to be one of them.

    Getting the right cover in place while you are living overseas is something we have been helping Australian’s with for many years. We understand that your circumstances can change at a moments notice and that you have unique concerns given your lifestyle choices.

    From 1999-2003 The Australian Bureau of Statistics estimated that there were 346,000 Australians living overseas in OECD countries. Given the way the world has been trending over the past 20 years, it is likely this number has continued to grow. Living and traveling overseas has never been more accessible which has forced financial institutions have had to evolve in the way they are able to service and provide products to those living overseas.

    What do i need to consider as an Australian Expat?

    Aside from ensuring that your policy covers you while you are overseas (we will come back to this later on), there are a couple of other considerations that are unique to expats.

    When we provide insurance advice we map out the scenario that is likely to take place should something happen which results in a claim. Remember, you are only going to be able to claim on these insurances when you have passed away or suffered a significant injury or illness. As a result, you may well wish to have the means to travel back to Australia and seek care here. In addition to this, you may be earning significantly more overseas than you will when you return to Australia and will therefore need ensure that your levels of insurance account for the lifestyle you will lead at home.

    While you are overseas, you may have certain lifestyle expenses that are covered by your employer that you would need to pay for if you moved back. We need to paint a clear picture as to what your financial life looks like while you are overseas and what it will look like when you return home.

    The insurance advice that we provide you is designed to address what the rest of your life would look like should you need to claim. Although this might sound daunting, it provides you with genuine peace of mind.

    Can I get Life Insurance or Income Protection Insurance while I am living overseas?

    There are a number of insurance companies in Australia that are happy to provide cover to individuals who are living overseas or who are planning on moving abroad. The most fundamental requirement is that you intend to return to Australia within the next 3-5 years. Expats meeting this criteria are generally able to access Life Insurance, TPD Insurance, Income Protection and Trauma Insurance.

    If your intention is to return to Australia in the next 3-5 years, there are a number of options available to you. Typically insurers will require that any disability insurance policy you have be modified to require you to return to Australia within a certain period of time after being unable to work. This clause provides insurers with peace of mind that you will be receiving treatment to Australian standards.

    One of the biggest factors insurers look at when assessing applications from expats is the location you are residing in. In Australia, the most common measure of stability and safety in a region is the advice provided by Smart Traveller. Smart Traveller is branch of the Department of Foreign Affairs and Trade which offers travel advice for every country. Insurer’s are typically reluctant to offer cover to anyone that resides or works in a location with a rating equal to or worse than “reconsider your need to travel”.

    It is important to remember that regions within the same country may have different travel advice warnings and these warnings change frequently given the nature of the recommendation.

    There are many Australian’s that work as fly-in-fly-out workers in the Oil/Gas and Mining industries. These industries often require you to work in remote areas of the pacific islands or in Africa. We have had success in obtaining cover for those who have these types of arrangements.

    Our claims testimonials

    Excellent
    Curo Financial Services
    Based on 11 reviews
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    Cherie Haig
    It has been my pleasure to deal with Brent and his team over the years I have been their client. All queries have been explained promptly, intricacies of policies and decisions I contemplated explained, and the level of service Brent has provided exceeds 5 stars.
    Jen W
    Brent from Curo Financial Services has exceeded our expectations and has been a pleasure to deal with. Brent is professional, trustworthy and provides excellent service that goes above and beyond. Brent is compassionate, kind, and caring. Brent has always had our best interest at heart and really takes the time to ensure you feel supported. Brent has made the process of dealing with insurance easy and has made it a positive experience. Brent is a pleasure to work with.
    Justin Fitzgerald
    We dealt with Brent and he was an absolute pleasure to work with. He supported us in a very caring compassionate way at a time where we were very stressed.
    Brent went above and beyond and his customer service was impeccable.
    Thankyou for making a difficult time seem not so difficult.
    Vicki Taylor
    Thank you Curo Financial Services for providing me with friendly, professional services, I am very grateful especially to Behram Ali. Would highly recommend their professional services.
    Mark Crimmins
    It is my absolute pleasure being able to write this glowing review about Brent and his team.
    Brent and I have known each other for many years with Brent advising me where needed on my income protection policy. Throughout that time Brent has been very thorough in keeping me updated with any changes within the industry and how that may affect my extremely important policy.
    Life takes some interesting twists and turns and it just so happens that I unfortunately needed to call on the benefits on my amazing policy.
    Brent was right there when you needed him the most, guiding me through the entire process and following through with everything he had advised me on in the past.
    I can’t thank Brent enough for being by my side offering genuine Compassion and knowledge when needed.
    Thanks for everything Brent. You are a true credit to yourself, the company and your family.
    Warmest regards
    Mark
    Herman Bothma
    Curo Financial Service have given me out standing customers service over the years. Brent have great knowledge to what product would be the best suited for my level of cover and great advice over the years.

    From the day I took out my life insurance cover and Income protection Brent was there to answer any questions I had and
    when I was diagnosed with pancreatic cancer years later Brent made the Claim process easy with good communication clarity with what’s information is needed a piece of mind in a uncertain time for me but not only where he professional through out the process he showed support empathy, kindness and a level of care that’s hard to find these days.

    I would Recommend Brent and Curo financial Services without any hesitation. I am sure they would look after you too!
    Paul Michael Jamieson
    We have been dealing with Brent from Curo Financial Services for a while now and have found them extremely helpful and always acted in our best intrest
    So I would have no hesitation to recommend them to anyone
    Paul
    Jocelyn Jamieson
    Have dealt with this firm for many years and always received fantastic service. Would highly recommend. Nothing is too much trouble for Brent. He goes out of his way to assist.
    Ari Mitchell
    I recently had the pleasure of working with Brent from Curo, and I cannot express enough how exceptional my experience was. From the moment I reached out for assistance, Brent demonstrated an unparalleled level of subject matter expertise and a dedication to providing outstanding customer service.

    Brent's knowledge and proficiency in their field were immediately apparent. They patiently listened to my concerns and questions, providing thorough and clear explanations that made even the most complex concepts easy to understand. What truly set Brent apart was their willingness to go above and beyond to ensure I had all the information I needed. Their expertise was not just impressive but invaluable.

    Additionally, the customer service I received from Brent was nothing short of outstanding. They were not only professional and efficient but also genuinely friendly and approachable. Brent took the time to address all my queries, no matter how big or small, and made me feel valued as a customer. Their patience and willingness to assist left a lasting impression on me.

    I am truly grateful to have had the opportunity to work with Brent at Curo. Their expertise and dedication to providing exceptional customer service are a testament to their commitment to excellence. I would highly recommend Brent to anyone seeking top-notch assistance and support. Thank you, Brent, for your outstanding service – you have definitely earned a loyal customer in me!
    Vivien Reed
    I found service received from Curo Financial Services professional and stress free.Communication was easy with regular updates. A positive outcome was achieved to an insurance claim. Highly recommended.

    Don’t put off your insurance until it’s too late.
    Call Curo now to speak to your personal advisor, on 1300 665 356.

     

     

    General Advice Disclaimer

    General advice warning: The advice provided is general advice only and in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.

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