Link to Lee Doran user page Lee Doran Underwriting Manager 15 June 2026 When it comes to life insurance, there’s a lot of misinformation flying around. From who life insurance is meant for, to how much it costs and the process of claiming, you’re sure to encounter a number of myths and rumours over your lifetime. In reality, life insurance has been around since ancient times, and over the years has played a crucial role in helping people protect the financial security of their loved ones. We hear a lot of misconceptions about life insurance, so we’re here to set the record straight. In this article, we’ll take a look at the top 10 common myths about life insurance, to help reassure you that the right life insurance policy really can provide the security and protection you’re looking for as an expat living abroad. Life insurance myths I won’t benefit from life insurance I’m too young to need life insurance I’m too old to get life insurance You only need life insurance if you have kids Only the main earner needs life insurance Life insurance never pays out Life insurance is too expensive Life insurance costs more for men I’m covered by work, so I don’t need cover I need to pass a medical exam to get life insurance Frequently asked questions about life insurance misconceptions Myth 1 I won’t benefit from life insurance Truth Your beneficiaries will benefit from your life insurance payout if you die. Until then, your policy provides peace of mind that your loved ones will be protected. It’s true that life insurance primarily benefits your loved ones, but that doesn’t mean you don’t also benefit from having a policy. By ensuring your family or dependants are protected financially in the event of your death, you’re providing peace of mind for yourself. This assurance allows you to focus on the present without the constant worry about what might happen if you’re no longer around. Some life insurance policies also offer early payment for terminal illness. At William Russell, we will pay your life benefit early if you’re diagnosed with a terminal illness that reduces your life expectancy to 12 months or less. This gives you everything you need to put your affairs in order. How does life insurance actually work? Learn more about international life insurance Myth 2 I’m too young to need life insurance Truth It’s better to take out life insurance when you’re young. You may think that life insurance is only for older people, but that doesn’t mean you should wait until later in life to consider cover. In fact, there can be advantages to taking out a policy while you’re young. For instance, as you grow older, your risk of experiencing a major illness increases. Conditions such as cancer, heart disease, and stroke can affect the availability and cost of life insurance if they occur before you apply for cover. By taking out a policy earlier in life, you may be able to secure cover before any future health issues arise. If you later develop a medical condition, you won’t be re-underwritten or charged additional premiums for the cover already in place, provided you continue to renew your policy. It’s worth remembering… As you grow older, you are more likely to experience life-changing events. You may: Have children Take out a mortgage Start a business See your parents go into care Your life insurance policy is there to ensure that yours, and your family’s financial interests will always be protected, no matter what life throws at you. William Russell offers a guaranteed option to increase your life benefit, allowing you to increase your cover by up to 10% each year (up to US$50,000) without further medical underwriting. This means your cover can grow alongside your needs as your circumstances change over time. Finally, you must remember that you could pass away at any time. Life insurance is simply there to ensure that, when that time comes, your loved ones will be looked after. As a policyholder, you are free to choose who will receive your benefit, whether that’s your family, partner, children, friends, or even businesses, societies, organisations and community clubs you’re attached to. No matter what age you are, life insurance can give you total peace of mind that your loved ones will have one less financial worry during an already difficult time. How much life insurance do I need? Use our life benefit calculator to work out the level of cover you need Myth 3 I’m too old to get life insurance cover Truth There are life insurance options available for all ages, including affordable plans specifically designed for older individuals. It’s never too late to consider life insurance. While it’s true that premiums may be higher for older applicants due to increased risk, there are still options that provide meaningful protection later in life. Even if your children are grown up or your mortgage is paid off, life insurance can still provide benefits such as cover for funeral costs, helping to settle outstanding debts, or as an inheritance to help your loved ones financially. People approaching retirement may also consider life insurance to help them cover death duties, or to provide for their partner’s old age care. At William Russell, we offer life insurance to expats up to the age of 70. As you’re not over this age limit, there’s still time to think about life insurance – even if you’re taking it out for the first time. What are pre-existing medical conditions? Learn more about what counts as a pre-existing medical condition Myth 4 You only need life insurance if you have kids Truth There are many reasons for people to buy life insurance. Leaving something to your children is certainly a good reason to have life insurance. But there are plenty of other benefits too. For instance, if you’ve taken on financial liabilities during your life, such as a mortgage, your life insurance can be used as collateral for these debts. This prevents your debt being passed on to another person. You may also want to think about older relatives, such as your parents or spouse. Your life insurance benefit may help them with the cost of care as they get into old age, especially if you’re not around to help them. You are free to name whoever you wish as an beneficiary of your life insurance policy. While many people name their children, you may wish to name a partner who relies on your income, friends, parents, business partners or even a charity or cause that is important to you. You can also name any creditors to ensure your benefit will cover outstanding debts. Sign up to our email guide to choosing expat life insuranceNo spam, just helpful content for you! NameThis field is for validation purposes and should be left unchanged.Enter your email address Myth 5 Only the main earner needs life insurance Truth Partners earning less can still purchase life insurance, even partners who don’t work. Lots of people think that life insurance is only for the ‘breadwinner’ of the household, but this is far from true. Even if you earn less than your partner or have no income, your death could still have a huge financial impact on your family. If you pass away, your responsibilities – whether it was for looking after the house or the children – will pass on. Your life insurance benefit can therefore help your partner to afford additional help in your absence. They may need to pay a nanny, nursery costs, or staff to help around the house. This is especially true if someone in your family has special needs. This is why, at William Russell, we can insure people for up to US$200,000 even if they have no income. Life insurance isn’t just about protecting a person’s income. It’s about making sure that the ones you leave behind will still be able to have the support and opportunities you wanted for them. Have you thought about international income protection insurance? International income protection provides a replacement income if you’re unable to work due to illness or injury. This policy is tailored specifically for expats and digital nomads living and working abroad, giving you peace of mind that you and your family will have financial support if an illness or injury prevents you from working. Learn more about international income protection The cost of life insurance can be a significant expense We look at some tips to help lower your life insurance premium Myth 6 Life insurance never pays out Truth The majority of life insurance claims are paid out as long as the policy terms are met. The idea that your provider won’t pay out can understandably make people hesitant to invest in life insurance. The truth is that reputable life insurance providers have high claim settlement rates, with the vast majority of policies paying out as expected. In fact, most insurers pride themselves on their ability to honour claims, ensuring families receive the financial support they need. Claims are denied only in rare circumstances, such as when the policyholder fails to disclose important information about a pre-existing medical condition during the application process, or when the claim is ineligible. Your claim may be ineligible if: Your death was caused by an excluded cause, such as a hazardous sport You died in a location not covered, or excluded by your policy You were found to have lied on your application, e.g. you did not disclose a previous heart attack and later die of heart disease But so long as you are honest during your application, and you understand the limitations and exclusions in your policy wording, you should have nothing to worry about. When you purchase a policy from William Russell, you can be sure there’ll always be money to pay your claims. The insurer behind our life insurance is a company in Allianz group – one of the largest financial services companies in the world. Why might claims still be denied? Even if you know and trust your insurance provider, you may still find your claims denied. This can happen in situations where you have misread the terms of your policy or if you weren’t entirely truthful in your application. To mitigate the chance of this happening, you should make sure to read all of your policy wording carefully when taking out a policy, and be honest and transparent in your application. If you need help or advice, you may benefit from speaking to an insurance broker. You may also find the answers in our life insurance FAQs. Life Insurance FAQs Unsure about taking out international life insurance? Here are 8 reasons why life insurance is important for expats Myth 7 Life insurance is too expensive Truth Life insurance can be tailored to suit almost any budget, and the cost is often lower than many people expect. The cost of life insurance depends on a number of factors including your age, health, and the level of cover you choose. For younger and healthier individuals, premiums are particularly low, bringing added peace of mind for as little as US$7 per month. When compared to the financial security it offers, life insurance often proves to be exceptional value for money. Here are some example costs to give you an idea of how much international life insurance might cost around the globe: 25 year old from the UK 30 year old from the USA 40 year old from India 45 year old from Australia Life insured for US$250,000 US$250,000 US$250,000 US$250,000 Country of residence Mauritius Estonia Norway Indonesia Monthly premium US$14.96 US$16.34 US$32.29 US$50.60 Why do you need life insurance as an expat? Find out more about international life insurance Myth 8 Life insurance costs more for men Truth It’s illegal for insurance companies to use gender as a factor when calculating premiums. Since 2012, both the European Union and UK regulations have prohibited insurers from using gender as a basis for calculating insurance premiums. At William Russell, the cost of your life insurance premiums depends on a number of factors, including: Age Lifestyle Health Family medical history Level of cover you choose Remember It’s important to answer any questions your insurer asks you accurately and honestly during the application process. Life insurance provides invaluable financial protection for loved ones Understand more about what is and isn’t covered by our life insurance Myth 9 I’m covered by work, so I don’t need cover Truth Workplace policies can be limited and temporary, so personal life insurance ensures you have comprehensive, lasting protection. Many people assume that the life insurance offered as part of an employee benefits package is enough. However, while workplace cover can be a great starting point, it’s important to consider whether it provides enough protection for your individual circumstances. Group life insurance policies often offer a payout that’s limited to a multiple of your salary, such as two or four times your annual income. This may not be enough to cover your family’s long-term financial needs, such as paying off a mortgage, funding education, or maintaining their lifestyle. Additionally, your workplace cover typically ends when you change jobs or retire. As retirement often comes later in life, obtaining new cover at that stage may be more expensive or involve additional medical underwriting. Having a personal life insurance policy ensures that you’re in control of your cover. You can therefore tailor your policy to your needs and keep it in place regardless of changes in your employment. Writing a will as an expat can present unique challenges We look at some things worth considering when writing a will abroad Myth 10 I need to pass a medical exam to get life insurance Truth Not necessarily! While some life insurance policies may require a medical exam, it depends on factors like the amount of cover you’re applying for and your age at the time of the application. With William Russell, applicants under the age of 50 can apply for up to US$750,000 of life cover before a medical assessment is required. If a medical assessment is needed, there’s no need to worry about the cost – we’ll reimburse the fee if you later become a William Russell member. Additionally, you only need to complete this assessment once during your application, so there’s no need to repeat the medical exam each time your policy renews. Unsure if you’ll need a medical when applying for life insurance? Find out when a medical might be required when you apply for a policy Protect what matters most At William Russell, our life insurance includes terminal illness cover as standard, along with annually renewable cover and a guaranteed option to renew without the need to provide new medical information. You can also tailor your policy with optional benefits, including critical illness cover for adults and children, accidental death and permanent disablement cover, and funeral and repatriation cover. For added peace of mind, we also provide free accidental death cover for up to 30 days while we process your application. If an applicant dies as a result of an accident during this period, a lump sum benefit of up to US$100,000 may be payable. Before committing to a policy, make sure you understand the cover available and choose the protection that’s right for you and your family. If you have any questions, please don’t hesitate to get in touch with our friendly, award-winning team—we’d be happy to help. Get a Quote At William Russell, we’re proud to offer fair and transparent services to all our members. We have paid out 100% of all legitimate claims, and we will continue to do so. We’re incredibly proud of our reputation for great customer service What does customer service mean to us and why does it matter? Frequently asked questions about international life insurance misconceptions How does life insurance work? Unlike a life insurance policy you purchase in your home country, international life insurance insures you wherever you live or travel to worldwide, within certain limits. In the event of your untimely death, international life insurance pays a lump sum to your family or nominated beneficiary, ensuring they can continue to meet their financial obligations without you. So long as you adhere to the terms of your policy, it won’t matter where in the world you pass away. With expat life insurance, you’ll be covered. Read our full guide to international life insurance Is life insurance worth it? Whether life insurance is worth it depends on your personal circumstances. Many people choose life insurance to provide financial support for loved ones, cover outstanding debts, or help protect their family’s standard of living if they die unexpectedly. Here’s how to know if it’s right for you What age should you get life insurance? There is no perfect age to take out life insurance, and many people don’t consider it until they have children, buy a home, or take on other major financial responsibilities. However, life insurance can provide value at almost any stage of adulthood. Some people choose to take out cover when they are younger because they want to help protect a partner, cover shared debts, support ageing parents, or lock in cover before their circumstances change. Others wait until they have a family or a mortgage. The right time to consider life insurance depends on your personal situation, financial commitments, and the people who may rely on you. Rather than focusing on age alone, it’s often more useful to think about who could be affected financially if you were no longer around. Can I get life insurance with a pre-existing condition? In many cases, yes. Having a pre-existing medical condition does not automatically prevent you from obtaining life insurance. Insurers will typically assess factors such as the type of condition, its severity, treatment history, and overall health before offering cover. Note: You must disclose all pre-existing medical conditions when you apply for a life insurance policy. Pre-existing medical conditions & life insurance Does life insurance cover death from illness? Most life insurance policies cover death resulting from illness as well as accidents, provided the policy terms and conditions have been met and all relevant information was disclosed during the application process. Can life insurance be used to pay off a mortgage? Many people use life insurance to help ensure outstanding debts, including mortgages, can be paid if they die. This can help reduce financial pressure on surviving family members. Learn more about life insurance and mortgages Can stay-at-home parents benefit from life insurance? Many families choose life insurance for stay-at-home parents because they provide valuable support that may be costly to replace, such as childcare, household management, and caregiving responsibilities. Do I need life insurance if I don’t have children? Life insurance is not just for parents. While many parents take out life insurance to help protect their family’s financial future, having children is not a requirement for life insurance. People without children may choose cover to help support a partner, cover a mortgage or other debts, provide financial assistance to relatives, or leave money to loved ones. Some also use life insurance as part of their broader financial planning. Whether life insurance is right for you depends on your personal circumstances and financial responsibilities, rather than your parental status. Can I have more than one life insurance policy? Yes. Depending on the insurer and your circumstances, it may be possible to hold multiple life insurance policies. Some people do this to supplement employer-provided cover or to meet different financial protection needs. Does life insurance cover terminal illness? Some life insurance policies include terminal illness cover as a standard feature or optional benefit. If a policyholder is diagnosed with a qualifying terminal illness, the benefit may be paid before death, subject to the policy terms and conditions. Find out more about terminal illness cover Am I covered while my life insurance application is being processed? Yes. William Russell provides free accidental death cover for up to 30 days while your life insurance application is being processed. If an applicant dies as a result of an accident during this period, a lump sum benefit of US$100,000 (or the amount of cover applied for – whichever is lower) may be payable, subject to the policy terms and conditions. Many life insurance myths are based on outdated assumptions or misunderstandings about who can get cover, how much it costs, and when a policy will pay out. Understanding the facts can help you separate myth from reality and choose a policy that provides the right level of protection for you and your loved ones. Choose William Russell for your international life insurance At William Russell, we have over 30 years’ experience providing international life insurance to expats like you. We are proud of our exceptional customer service, which has earned us the Feefo Platinum Trusted Service Award. We believe in offering a personal touch with every policy, providing all members with their own dedicated account manager and access to our 24-hour claims line. Read why so many of our members recommend us here. Take the stress out of life insurance by choosing William Russell. Find out more about our international life insurance policies and get a quote online in under two minutes today. Terms & conditions apply to our insurance products and services. You can find full details of what our plans cover (and what they don’t cover) in our plan agreements. Looking for international life insurance? Get a Quote Related articles Read More Insurance A Family Health Emergency Abroad: An Expat Family’s Experience What happens when both your children are hospitalised abroad? One expat family… Read More Insurance Notice On The Conflict Across The Middle East We’re aware that the current situation in the Middle East and Eastern Mediterranean… Read More Insurance How Much Does Medical Treatment Cost Abroad? 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