In its latest Life Insurance and Critical Illness Cover to British Expatriates survey, the company found that 28% of UK insurance companies would offer products to Brits living overseas, up from 16% the previous year.
Unusual Risks, which specialises in finding life assurance and mortgage products for people with pre-existing medical conditions such as HIV, surveyed 14 mainstream UK life insurance providers between September and December 2016.
It found that four would consider a life insurance application and only one would consider a critical illness cover application from a UK citizen living outside of the UK.
The remaining companies would either decline an application or require the applicant be living in the UK more than six months of the year.
The survey did not specify which companies would and would not offer life products to British expats.
Legitimate need for UK protection
Chris Morgan, lead financial adviser of Unusual Risks, said: “Over the last year there has been a marked increase in the availability of life insurance products for British expats living abroad.
“Although the majority of the mainstream UK insurers; such as Legal & General, Friends Life and Aviva, have all now withdrawn from offering this type of cover, there are now a number of new options for expats seeking life insurance.
“There are still many groups of British expatriates that have genuine reasons for needing a UK-based life assurance plan, such as those with property interests, outstanding mortgages or tax interests in the UK.
“We have also met British expatriates who require life assurance to protect family members and children who are still resident in the United Kingdom,” Morgan said.
