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PLANNING FOR THE WORST ENSURING YOUR LOVED ONES ARE TAKEN CARE OF PLANNING FOR THE WORST ENSURING YOUR LOVED ONES ARE TAKEN CARE OF INTRODUCTION Over the last decade more and more professionals from all walks of life are finding themselves working and living abroad. As an expatriate your specific financial objectives and requirements may require specialist adviser knowledge and training as every region of the world comes with its own set of advantages and disadvantages to contend with. An understanding of offshore financial services and products can help provide you with the kind of life that you and your family deserve along with the security of knowing that your investments are working as hard as you are. Offshore investment is no longer reserved only for the wealthy the international market has opened for all expats living abroad who wish to enjoy the flexibility and accessibility of overseas accounts. Never before has the demand been greater and the financial industry has responded in turn with more and more financial institutions offering options to the international investor. The choice of provider is thus wider than ever- with services ranging from lump sum investments and saving schemes to pension plans and wealth management accounts. Chartercross works in conjunction with the worlds leading insurance providers and investment firms. It is these powerful relationships with the top players in the industry that ensure every product offered by Chartercross is of the best value to the investor and comes backed by the highest level of protection. In this guide well provide you with some important information about insurance planning for expatriates and international investors. Well present you with the basics here- youll of course want to speak with one of our professional advisers to gain insight into more detailed options. Whatever those options may be it is vital that you start saving for your own and your familys healthcare as soon as possible. If you are planning to move abroad the most fundamental and first priority should be to secure sufficient healthcare coverage as well as income protection insurance. A critical illness can strike at any time and the costs of service may be very different from those in your home country- so it is necessary to ensure that both you and your family are covered in case the worst should happen. Being appropriately adequately covered is not only essential for your financial well-being in cases of emergency but it also affords you the day to day peace of mind from knowing that your family is protected. HEALTH INSURANCE Be sure that you and your family have health coverage not only in your new country of residence but also while traveling abroad. Be mindful of any limitations or conditions in the policy that may leave you liable should you require to make a claim. As both the costs for treatment and standards of practice vary from one country to the next it would be a good idea to compare which services are available and which you may require in your new country of residence and which services are covered by your insurance. You may find that if there is a great disparity between the two you may need to return to your home country to receive certain treatments or in the case of an emergency. There are many providers of healthcare insurance and the number is increasing. There is a dizzying array of offers available each with its own benefits conditions exclusions features and exceptions for you to choose from. Getting help from a professional financial adviser can help you choose the one that is most suitable for you and your circumstances. CRITICAL ILLNESS INSURANCE Being incapacitated by a serious illness is bad enough but the financial strain that can accompany it can make the experience nearly unbearable. Your financial expenditures continue month on month even when you fall ill and coupled with any extra medical expenses you may incur due to the illness- it is readily apparent that some financial protection is necessary. Critical illness insurance can mitigate some of this stress and pay you in the event that you are unable to work due to serious illness- allowing you to focus on getting healthy again. INCOME PROTECTION INSURANCE If you are unable to work due to serious illness or injury income protection insurance is designed to replace a portion of your income- either as a lump sum or in scheduled income payments. Should you find yourself unable to work due to an accident or prolonged illness income protection insurance may provide you with up to 75 of your salary. LIFE INSURANCE Living abroad can be an adventure but it can also full of uncertainty when it comes to financial matters. You want to be sure that your family is protected in the event of your death. There are a number of different options to choose from. The one that fits your needs and circum- stances depends on your financial objectives as well as the standard of living that your family is accustomed to. Term Life Assurance - Insurance against your death for a fixed number of years for example ending when your youngest child finishes school. Decreasing Term Insurance - Insurance used to pay off loans such as a mortgage in the event of your death. Over time and as the term nears its end the benefit decreases as does the debt of the loan it is covering. For this reason premiums for this type of policy tend to be lower than regular term of life insurance or a whole of life policy with the same face value. Whole of Life Insurance - Insurance coverage against your death for as long as you live. The benefits are paid to the person you elect as beneficiary upon your death or at an age that the policy specifies. Annual Renewable Life Insurance - Life insurance that is renewable one year at a time. Popular with expats because of their frequently changing circumstances. There are several factors to consider when deciding which option is the best for you and your family. Here are a few examples If you and your partner do not have children how important is it to know that your partner would be financially independent in the event of your death If you do have children how important is it for you to know that their costs of education are paid for should you pass away If your parents are still alive would your death cause them further financial burden or would you like to leave them funds in reserve that they could use in retirement There are many options available for you and your family when it comes to protection against the uncertainties of life. An in-depth look into them is recommended in order to choose the most appropriate policy for your loved ones. OBTAIN FINANCIAL ADVICE PLANNING FOR THE WORST ENSURING YOUR LOVED ONES ARE TAKEN CARE OF Along with your own research its a good idea to speak to a professional financial adviser to get a full understanding of what options might best suit your objectives and circumstances. The time is now to begin planning. At Chartercross we work with the worlds leading investment houses and insurance providers. Our consultants have all been trained to give the best advice and have an understanding of the local requirements of the region you plan to move to. ABOUT CHARTERCROSS We understand that every client is an individual so our approach is to help find products and solutions that are tailored to fit your unique circumstances and goals. Chartercross is a whole of market advisory and not tied to any one individual life company so we are free to offer the best advice on products from any provider. Thus our fully qualified consultants and Wealth Managers are able to provide not only accurate but Simple Impartial Advice. The advice we provide is free and without obligation. All opinions expressed in this Guide constitute the authors own judgment as of the date of the Guide. Please note that as we have only indicated the general position and whilst every effort has been made to ensure the accuracy of the information we can accept no responsibility for any act or failure to act based upon its content. The views expressed herein are purely those of Chartercross employees and are not to be construed as advice. PLANNING FOR THE WORST ENSURING YOUR LOVED ONES ARE TAKEN CARE OF This material is for information purposes only and does not contain and should not be construed as containing investment advice or an investment recommendation or an offer of or solicitation for a transaction in any financial instrument. Always seek independent financial advice before investing in any product. The information provided and contained in this brochure are believed to reliable but are subject to change without notice and Chartercross makes no representation as to the completeness or accuracy of the information or of any opinions expressed.