What does “guaranteed cover” mean in an international life insurance policy?

Guaranteed cover means that the death benefit shown in your Policy Schedule is fixed and will not be reduced for the full duration of the policy term. Once your  international life insurance policy is in force, the sum assured your beneficiaries will receive cannot be decreased – regardless of changes to your country of residence, your occupation, your health, or your lifestyle after cover begins.

Expat life involves a level of change that domestic policyholders may not experience. Relocating between countries, taking on different roles, or adjusting your lifestyle over the course of a long policy term would, with some providers, create grounds for reviewing the terms of your cover. With Expatriate Group’s guaranteed cover commitment, none of those changes can be used to reduce your sum assured.

Guaranteed cover means the sum assured cannot be reduced during the policy term, but it does not prevent the policy from being terminated in other circumstances, such as premiums remaining unpaid for more than 90 days, the policyholder cancelling in writing, or the policy being cancelled under the circumstances described in the terms and conditions, including misstatement of fact, sanction limitations, or changes in governing law.

The guaranteed cover is also subject to the death benefit exclusions set out in the policy, specifically death resulting from active participation in war or civil unrest, breach of criminal law, non-commercial aircraft travel, and suicide within the first two years of the policy.

Both guarantees apply for the full policy term. The sum assured is guaranteed not to decrease, and the Selected Premium is guaranteed not to increase. Together, they ensure both sides of the policy remain fixed from the start date for as long as you remain covered.

Get a quote to find out more about Expatriate Group’s international life insurance, or contact the team with any questions.