Insurance Advice for residing overseas

Hi anon,

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If you ever think that you'll be coming back, keep your policies.

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Even if you're not, CI and death/TPD coverage is generally global.

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Shield plans should be kept if you're definitely coming back, as we don't want you to end up in a situation where you aren't able to reapply due to health after you return.

For this purpose, it would be good to conduct a comprehensive insurance portfolio review to assess your existing insurance policies, and whether it is relevant even though you are working overseas permanently.

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To illustrate, one may choose to keep their life insurance policies as there is no restriction on region of cover.

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On the other hand, we may wish to re-evaluate whether it makes sense to keep your local healthcare insurance policy, e.g. insurability interest vs cost of premium.

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Since there isn't much information about the types of insurance policy that you are holding onto, it is really impossible to ascertain whether you should cancel your local insurance policies. With this in mind, I would suggest you to speak to your Insurance Agent to conduct a comprehensive review to that end.