Friends Provident International (FPI) has over 40 years of international experience and a heritage that dates back over 300 years.
Based in the Isle of Man, FPI also have offices in Dubai, Hong Kong and Singapore with staff worldwide.
We recommend individuals who are directed to FPI by banks or brokers carefully garner the opinions of their peers on forums such as https://www.simplyfi.org/ before incepting any policies or plans.
The International Protector is an international term insurance plan from Friends Provident International.
International Protector Middle East is an award-winning protection product. It offers you peace of mind should the worse happen with a tailored protection solution to suit your needs.
The options are:
Friends Provident International allows you to choose from three different cover options, these are: stand-alone life cover; stand-alone critical illness cover; life cover or earlier critical illness cover.
You also have the choice of level or decreasing term assurance depending on your needs.
Level term insurance can be right for protecting your loved ones in the event of your death and the decreasing term can pay off any liability such as a mortgage in the event of an unplanned event.
All the normal expat life insurance restrictions apply to this plan (such as territoriality changes, hazardous sports exclusions, cancellation of cover if premiums are unpaid or voiding if inaccurate information is provided).
We would recommend getting professional guidance when buying international insurance.
Given the high level of commission its sale can create for advisers, we recommend advice is sought from an independent financial planner who charges a fee for the advice given, and rebates you the commission, so you have peace of mind that no conflict of interest exists.
Friends Provident International International Protector - Level or Decreasing International Term Assurance - key features and benefits:
1. Guaranteed premiums:
FPI says that premiums will remain the same for life cover and life cover with TPD. CIC premiums are guaranteed for the first 5 years. Meaning you can budget effectively as life cover premiums will never increase.
2. Monthly or annual premiums:
Premiums can also be paid monthly or annually. FPI gives you the freedom to choose.
3. Accelerated premium payment (APP):
For international professionals who prefer not to continue paying premiums throughout the policy term, the APP provides a range of payment terms.
Covers and premiums can be in: US Dollars, Sterling, UAE Dirham and Euro. Once you choose a currency that suits your needs, this can be the currency you use throughout the plan.
Single and joint life:
FPI offers single or joint life basis covers.
Cover available for any term:
The cover is available for any number of years, providing the client is under age 80 at the end or age 70 for critical Illness cover. This cover can be customised. So, if a mortgage is for 25 years, the life cover can have a 25 year term.
Level or decreasing term:
Both types of covers offered by FPI provide you with an option of lump sum payment should you die. Decreasing Term provides a lump-sum at the time of claim that aims to cover the outstanding liability on a repayment loan.
It's portable, which means you can take it with you if you ever decide to move or your circumstances change.
We highly recommend reading the 'expert verdict' section of this review to learn why our team of experts gave Friends Provident International - International Protector 4 out of 5 stars.
FPI's international cover provides financial support to your loved ones.
It gives you peace of mind knowing that your loved ones could survive financially.
The critical illness cover offered by Friends Provident International provides adults protection against 35 different types of critical illnesses.
The critical illness cover also provides protection against 26 different types of illnesses and disabilities under the Children’s Critical Illness and Disability Benefit.
The life or earlier critical illness policy pays a sum in case you die or are diagnosed with one of Friend Provident International's list of defined critical illnesses - depending on what occurs first.
Yes, FPI will pay a sum if you are diagnosed with any of the terminal illnesses listed.
This is included at no extra cost, for life cover policies with terms of 3 or more years and all of FPI's life or earlier CIC policies.
Yes, FPI does offer disability cover.
This is optional to your life cover. It pays out if you are diagnosed with a TPD.
FPI says that you would receive financial support, if you become totally or permanently disabled.
FPI says that the cost of an insurance policy will depend entirely on your personal circumstances.
They recommend you seek a personalised quotation.
Beware the risk of hidden commissions being added on by a financial adviser however.
I'm happy with the flexibility, portability, cost and cover. Would recommend it.
In our view, it's unwise to purchase insurance from your bank and potentially risky to limit yourself to a domestic insurer in your current country of residence.
As a global insurer, Friends Provident International is a market leader in the provision of international term insurance. The International Protector is an excellent plan when professional, objective advice with regard to its inception and maintenance is sought.
However, there is the risk an adviser may add on hidden commissions so ensure you seek advice from a fiduciary. If you’d like a Second Opinion on your international portfolio, including your insurance products, request it here today.