Skybound Wealth Management | Insurance Planning Strategies for Expats

For the second episode of the Expat Investor podcast, Tom Pewtress is joined by Senior Financial Adviser Max Gerstein to discuss the important role Expat Insurance plays within wider financial planning.

As well as the regular review of the past month’s market news, Max tells the story of a successful critical insurance claim that almost went so horribly wrong.

Over the last 12 months both Tom and Max have witnessed scenarios where insurance has been needed for expats, however it has not been in place. Fortunately this time there was a positive outcome.

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Max's Clients Story

Being of the belief that he and his wife were too young to need it, and with a policy in place through work, Max’s client was initially reluctant to take Critical Insurance Cover when he raised the subject initially. However, after further discussions which highlighted the limitations of their existing policy he agreed to set up a new policy.

A few years later as part of an annual review, the client mentioned his wife had been diagnosed with Thyroid cancer, but having discussed with friends and family, they had reached the conclusion that their insurance policy wouldn’t cover them.

At this point Max suggested they at least try, and after some resistance, the client agreed to give it a go. Fast forward a few months and a successful claim has resulted in Max's clients receiving a cheque for $350,000; a life changing amount which gave them some breathing space while she underwent treatment and has allowed them to purchase a home in Australia without the need for a mortgage or additional borrowing.

Listen to the full story now

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Disclosure

This was recorded on the 28th February 2024 and all information was correct at the time of recording. As always this podcast is for educational purposes only and is not a personal recommendation. If you’re unsure what’s right for you, you should seek advice. Past performance isn’t a guide to the future, and investments rise and fall in value so you could get back less that you invest.

Written By

Maximillian Gerstein

Financial Advisor - Global Partners

Max Gerstein is a seasoned financial advisor with an exceptional track record spanning over five years. With a diverse professional background that includes working in prominent financial hubs such as Geneva and Dubai, Max has honed his expertise in navigating various jurisdictions and catering to a global clientele.

Tom Pewtress

ASCI

Global Head of Proposition

A dynamic international Financial Advisor who has spent many years providing cross border advice to expats, focussing on holistic financial planning across different jurisdictions. Tom works alongside international workers like you to create and implement a comprehensive plan designed to ensure your long-term goals become a reality and your future lifestyle is protected.