Brits abroad 'need insurance'

Brits living abroad for a sustained period of time need to ensure they not only have travel cover but also health and home insurance, it has been suggested.

Opening an offshore bank account could be one way of receiving a certain level of insurance, said Shelter Offshore.

One of the offshore banking options it recommends to expatriates is the NatWest International Personal division, which includes travel insurance in its package.

The website also states that companies that provide health cover might also be able to offer an insurance plan that includes travel as well.

Recently, Shelter Offshore described some further benefits of opening an offshore bank account.

If wages are paid directly into a bank account based in the country where the person is working, then they do not have to worry about a fluctuating currency exchange.

Brits that want to purchase a mobile phone, rent a house or buy a car may also be required to have a valid account based in the region.

The website added that Brits should shop around online to find the best deals.