Travel Risk Management

What Digital Nomads & Expats Need to Know About Life Insurance

You may have thought about life insurance and decided that really there is no need for it in your circumstances, or you can’t get it due to your lifestyle. Let’s dive into this a bit deeper since there are a number of reasons to reconsider, such as:

  1. You want to leave a legacy. If you got a policy with a $/£/€100,000 benefit and you were able to give a large portion of it to a charity, school, fund or someone who had impacted your life you would be impacting beyond your years.
  2. Someone could be depending on your income later in life. If you end up with a disabled relative or aging parent that needs your money to provide for their needs then the money from your life insurance could meet that demand.
  3. Debts paid off. Have you thought about university education that your parent/guardian co-signed with you, a loan that your business partner got with you? Leave funds to pay these in full.
  4. Later in life your health could restrict you from getting life insurance or cost much more. Your health could be great now, so get it locked in at a lower price. If your health changes, especially considering your family history, then there could be the chance of not being able to get a policy later, or it being too expensive to afford.
  5. You may have kids or loved ones later in life that you would like to provide for at that point. As of today, you may or may not have those people in your life that you may want to leave an inheritance to but in the future they could come along. Invest in them today with a policy.


A vital point though when you are considering when to purchase a policy is the certainty of your future travels.  If you are dreaming of someone day spending most of your time outside your home country, get your life insurance while it’s still an unknown and you can honestly answer that you don’t anticipate spending much time outside the country this year. They look at the risk when issuing a policy, so the cost is typically much lower when you will be staying ‘home’.

If you know you will be outside your passport country the majority of the year then an international term life insurance policy is the only viable option. These policies are in place for the period of time that you will be living outside your passport country and no longer valid once you return ‘home’.

Do you have a life insurance policy through your work? When you leave employment with them the policy usually cannot continue, it is terminated. If it’s a group policy, it is often a value that is much less than you actually need. Consider purchasing a separate, larger policy to give certainty that your needs are taken care of in the future.

Are you living the globally mobile lifestyle of the location independent, remote worker or expat and need an int’l term life insurance policy? You can get started online with Insured Nomads, medical exams are usually required but the rest is online. Let us answer your questions and walk with you into peace of mind about your legacy you leave behind.