Did you know that we can now offer life insurance cover to Australian Expatriates (Ex-pats)?

xLife, together with AIA Life is now offering life insurance cover to Australian Ex-pats. This is an excellent offer which enables Australian Ex-pats to protect the things that really matter with a life insurance policy.

The following Q & As may assist you when considering whether or not you are eligible.

Q. Who is considered an Ex-pat?

A. An ‘expatriate’ for insurance purposes is defined as:
‘Those who maintain and continue to hold Australian Permanent Residency or Citizenship status but intend to work overseas for short periods and return to live in Australia in the near future (3–5 years).’

Q. I know someone who is currently residing overseas.  Can they get cover?

A. Yes, however, AIG Life must be able to establish the following:

• The country where the ex-pat is already working. In some countries it can be illegal for foreigners to purchase a policy within their country of residence (due to reasons such as inappropriate licences).
• How long the applicant has already been overseas and how long they will remain overseas.
• What the applicant’s intended occupation is while overseas.
• The relevant country category from the Department of Foreign Affairs (DFAT). AIG Life will automatically defer those applicants residing in a country on DFAT 5 (high risk countries). AIG Life will consider DFAT 4 countries on an individual consideration basis.

Q. What type of life insurance cover can an Ex-pat get?

A. The following products are available for Ex-pats:

• Term Life insurance
• Total and Permanent Disability (TPD)
• Crisis Recovery
• Disability Income
• Business Expenses

Q. What level of life insurance cover can an Ex-pat get?

A. The following levels of cover are available to Ex-pats:

• Term Life – up to $5 million
• TPD – up to $3 million subject to age and occupation), and
• Crisis Recovery – up to $2 million (subject to age and occupation) from all sources
• Disability Income – up to $360,000
• Business Expenses – up to $300,000

Q. Are there any conditions that apply for an Ex-pat?

A. Under AIG Life’s Term Life, TPD and Crisis Recovery plans the following conditions apply:

• The applicant must be an Australian citizen or a permanent resident
• The applicant must intend to return to and reside in Australia within 5 years of taking the policy
• Any medicals or blood tests must be completed in Australia or performed by an English speaking doctor
• All premiums and claims proceeds will be made in Australian dollars

Under AIA Life’s Disability Income and Business Expenses plans the following conditions apply:

• The applicant must be an Australian citizen or a permanent resident
• The applicant must intend to return to and reside in Australia within 3 years of taking the policy
• DFAT 4 (high degree of caution) and below will be considered on an individual basis
• Minimum 30-day waiting period; to age 65 indemnity contract only
• Copy of contract outlining length/term of the contract if available
• Open ended contract – defer until returned
• Any medicals or blood tests should be completed in Australia or performed by an English speaking doctor
• All premiums and claims proceeds will be made in Australian dollars

This is a summary only to get further detailed information and quotes please contact an xLife adviser on 1300 135 205 or request a life insurance quote.

Exclusive Offer! Call xLife on 1300 135 205 today and
save up to 20% on your first year’s life insurance premium.

August 2008