Does anyone know if I can have a UK life insurance but have it paid to someone in Thailand if I die
1,980
views
3
likes
40
all likes
14
replies
0
images
12
users
TLDR : Answer Summary
The consensus among commenters is that it is possible to have a UK life insurance policy that pays out to a beneficiary in Thailand. It is recommended to consult directly with the insurance company for specific requirements and to ensure the policy will remain valid if you move out of the UK. Additionally, some suggest using a discretionary legal trust to designate a beneficiary, which can simplify the process and provide tax benefits. Several users recommend contacting financial advisors who specialize in expat insurance in Thailand for tailored advice.
In the US there are financial institutions that have television commercials offering to purchase your life insurance policy. I suppose they do the math and come up with a life expectancy vs the cash value of the policy vs expected payments up till death. Since we all die someday, getting the cash at the end of life is a mathematical certainty.
The point of that is, I don’t believe you need a relative to get the value of your policy after death. The beneficiary needs to know how to navigate the claim process.
On my own, I don’t think I could do it in a foreign country unless being a highly educated person.
Sarah ******
Generally, if you take out a policy while resident in the UK, you can name whoever you like to be a beneficiary. Check to see whether the policy will cover you once you move out of the UK.
Frank **********
You should really ask your insurance company.
James *******
I don't think you will ever die so less of the 'if' please.
James ***************
Yes you can, Ive just retired from my uk business in life insurance and all you need to do is write your policy into a discretionary legal trust nominating who you would like to benefit from the monies (they can live anywhere in the world)…also means no requirements for legal involvement and the money is tax exempt…easy to download from internet on your insurance company website and there’s no time restraints…just be careful on which trust forms you complete as there’s loads of them ‘discretionary trust’ is what you need 👍