Life insurance money transfers advised

Brits settling into life in new countries have been advised to make international money transfers to life insurance policies.

Financial advisor Shelter Offshore recently issued tips to expats who are unsure as to whether they need the added expense of paying insurance premiums.

The company explained that Brits with dependants who need to protect assets abroad, such as property, should consider making money transfers which will safeguard their investments.

In addition, life insurance policies will ensure that repayments of other debts and loans will not become the responsibility of surviving spouses.

"If you have a spouse and/or dependents it is far more important for you to seriously think about getting life cover in place," said the company.

"How would your family cope without you on an emotional level, let alone on a financial level?"

The Telegraph recently suggested that Individual Savings Accounts are ideal for expats wishing to build up their tax-free savings prior to moving.

Click here to make an International Money Transfer.

By Linsey Summers.