Life insurance in Oz & UK?

[boogaloo]

Hi guys

 

We have been in Perth now for 9 weeks and are loving it - we are very lucky the kids have settled in a good school and hubby is in work full time as a brickie - but I am getting a bit stressed about finances!

 

We have a financial advisor in UK telling us to keep all three life insurance policies (they advised us to take out more than we already had) and a financial advisor in Oz with whom we have taken out life insurance here - the UK are saying that we should not cancel the UK policies but are unable to advise on whether the Oz policies are suitable for our needs and the Oz advisors not prepared to comment on the UK policies and it is costing us a fortune - I am getting really stressed surely a policy in OZ and one in UK to protect mortgage there is enough!

 

Has anyone else any experience of this please?

[Andrew from Vista Financial]

Hi there

 

Firstly I am not sure why it is costing you a fortune as most Financial Advisers do not charge a fee in relation to Life Insurance as we are paid a commission by the Life provider.

 

If you are living and settled in Australia why are the UK Financial Advisers adamant that you should keep them going? If you have a shortfall in cover then surely you can top that shortfall up in Australia.

 

Are they straight forward life insurance contracts only or are they built into endowments?

 

I would be happy to have a chat with you free of charge over the phone if you like to try and help you understand your options.

 

I was a Financial Planner in the UK for a number of years and am a fully qualified Adviser here in Australia and Principal of my own practice.

 

My email if you would like to send me your contact details is andrew@vistafs.com.au

 

Regards

 

Andy

[Andrew from Vista Financial]

Sorry just re-read your post, do you mean costing you a fortune in premiums?