What is sum assured in expat life insurance?

With expat life insurance, the sum assured is the monetary amount paid to your beneficiaries if you die during the policy term. It is shown in your Policy Schedule and agreed at the outset, ensuring that it does not change over the course of your cover, and it is guaranteed not to decrease for the full policy term provided premiums are maintained.

The right level of sum assured depends on your personal financial situation and what you want the money to do for your family, such as outstanding mortgage obligations, dependants’ living costs, children’s education fees, existing debts, and the income your family would lose.

The right figure will vary depending on your circumstances.

The minimum sum assured is $50,000. With our Easy Life insurance, the maximum is $500,000 (or the currency equivalent), whereas with our Term Life insurance, you can insure for up to $6,500,000 (or the currency equivalent), making it suitable for higher earners or those with larger financial commitments.

You can request a decrease in your sum assured at any time, provided the revised amount does not fall below the minimum sum assured and the resulting premium does not fall below the minimum premium. You can also apply to increase your sum assured at any time, subject to the increase not taking the total above the maximum sum assured. Speak to the Expatriate Group team to review your level of cover.

Expatriate Group international life insurance is built to give you control over how much protection you put in place, and to keep that protection exactly where you set it for as long as the policy runs.