A friend is asking my opinion as to what type of insurance she should get. She wants to get life insurance but she will be migrating to another for good so she’s not sure if it’s the right thing to do. Her papers are already being processed but of course, she still wants to insure herself in case anything happens between now and the time that her papers are all processed and she’s ready to go.
What’s holding her back from getting life insurance is the fact that she’s not sure if the traditional insurance would have out-of-the-country restrictions placed on it. So I just told her to get a term life insurance instead.
At least with the latter, her coverage based on a fixed rate of payments is only good for a limited period of time. Once the term expires, she has the option to forego it and just apply for personal life insurance once she gets to the country she’s migrating to.