Life Life Insurance(Mortg) - Now I am non resident

Hi all,
I took out a Mortgage Life Insurance policy with ArkLife in 2008.
I have now emigrated and I am renting the house.

However, does the life insurance still cover us as we live in the UAE?

Any guidance would be appreciated.

The big thing for the providers is where you were resident at time of sale, which was Ireland, so you should be ok. You need to read the terms and conditions though, that is where all the hidden clauses are found.


Steven
www.bluewaterfp.ie

Thanks Steven,

I am only worried as certain QFA's in UAe are saying that our Mortgage will not be covered if one of dies...slightly worrying!!

Will see if I can find the T&C's

barrob said:

I am only worried as certain QFA's in UAe are saying that our Mortgage will not be covered

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Well those Qualified Financial Advisors probably want to sell you a new policy and get commission on it. How come you didn't inform your life insurance company you have moved abroad? I hope you informed the house insurance people as well that is now a rented property, and your premium will probably have gone up.

We didn't inform them as moving abroad is a big decision, and as with all people it was not crtical at the time when moving.

I take it you cannot answer my question Bronte?

Why don't you contact Ark Life and ask them?

I will, but I have not looked at the policy since 2008 and have no idea of the number. All my detailks have changed, email etc...

I only wanted to know is if someone could tell me before I call them.

barrob said:

I take it you cannot answer my question Bronte?

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Well when I moved abroad I just notified all my insurances, including Life insurance, maybe I'm not covered. But they are on notice I moved abroad and if I'm not covered I think it's up to them to inform me. The point is a bit moot now as I'm so long gone.

Incidentally, in one case, after I left I took out house insurance, and after a few years they told me they don't cover non residents. That ended up with the ombudsman but just thinking about it makes me go mad so I'm not going into it.

I would send a letter by recorded delivery to your life insurance, stating where you are and asking them to change the address, and also asking them to confirm that your new status doesn't affect the Life Insurance. There is no point any of us on here advising you as only you have the terms and conditions. I doubt there is a clause that says you cannot move country. But maybe there is. Say if you moved to Syria etc.

Bronte said:

Well when I moved abroad I just notified all my insurances, including Life insurance, maybe I'm not covered. But they are on notice I moved abroad and if I'm not covered I think it's up to them to inform me. The point is a bit moot now as I'm so long gone.

Incidentally, in one case, after I left I took out house insurance, and after a few years they told me they don't cover non residents. That ended up with the ombudsman but just thinking about it makes me go mad so I'm not going into it.

I would send a letter by recorded delivery to your life insurance, stating where you are and asking them to change the address, and also asking them to confirm that your new status doesn't affect the Life Insurance. There is no point any of us on here advising you as only you have the terms and conditions. I doubt there is a clause that says you cannot move country. But maybe there is. Say if you moved to Syria etc.

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That's more of an issue if you were intending to move at the time of taking out the policy and didn't inform them. The basis of the contract is your intention at the time and did you inform them of all material facts. If you hadn't intended to move to Syria but subsequently did.

Barrob, phone them up and ask for a copy of the T&C. They should have a copy on file and check yourself. The money involved is too big to second guess.