North Korea
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North Korea & Life Insurance
It is highly likely you will not be able to arrange life insurance with most mainstream insurers in the UK. This is due in part to the Foreign, Commonwealth and Development Office advising against all but essential travel to the country.
You will most likely need to place your life insurance with a specialist insurer if you plan on travelling to North Korea.
To check your life insurance options we will ask:
- When will you travel to North Korea?
- How long is your stay to North Korea?
- Where in North Korea do you plan on visiting?
- What is your reason for travelling to North Korea?
Most insurers will decline your life insurance application if you travel to North Korea. Instead you might be able to get life insurance from a specialised insurer, but this route can be very expensive. You may also find that some specialist life insurance policies actually have exclusions to any claims related to your trip to North Korea.
There are some insurers that may be able to consider life insurance for you, if you are taking a short trip to North Korea. This usually means less than 30 days for a holiday or less than 7 days for work.
Our award winning advisers are here to give you peace of mind with the right life insurance policy, so that if the worst happens, your loved ones will be taken care of.
British citizens who have moved abroad can often still access life insurance and critical illness cover in the UK. There are specific rules that you must follow to be eligible for new life insurance and critical illness policies, and we are here to strip out the jargon and get you the cover that you need.
Critical illness cover pays out a cash lump sum of money, if you are diagnosed with a medical condition that is listed in the insurer’s claims set e.g. cancer, heart attack, stroke.
It is highly possible that you will not get critical illness cover when you have plans to travel to North Korea. If you are going to North Korea for a short trip there may be options, but these will be very limited.
Unlike life insurance, specialist insurers do not tend to offer options for critical illness cover. You could look at alternative cover that covers cancer only, or significant illness caused by accidents, but it’s important to make sure you look through claims exclusions on these types of policies.
Our expert advisers are trained to find the critical illness policy that matches you and your needs, so that if you are diagnosed with a critical illness, you can focus upon you rather than worrying about money.
Income protection pays you a replacement of your monthly income, if you are unable to work due to ill health.
There will be very few income protection options until you return from North Korea. If your journey to North Korea is a short trip, there might be come options to protect your income, but these will be limited.
You could look at setting up Accident and Sickness cover as an alternative, which also protects your monthly income, but these policies do come with specific exclusions when travelling out of the UK.
Protecting your income is one of the most important things that you can do to protect your financial future and our award winning advisers are here to sort it for you.
Are you planning on a trip to North Korea? We’ve teamed up with a specialist travel insurance broker who can provide comprehensive cover for most countries. Request your no obligation travel insurance quote here.
North Korea
- Primary Concerns: Duration of stay, location
- Reason for Travel: Business, leisure
- Duration of Stay: Holiday break, sabbatical, employment contract
- Popular Locations: Kaesong, Pyongyang, Mount Kumgang, Samjiyon
Fun Facts
- Our MD Kathryn’s mohican wouldn’t be acceptable in North Korea. You have to pick your hairstyle from one of 28 options that the state approve of.
- North Korea goes pitch black every night
- North and South Korea communicate at the border with red and green phones
- For more information on specific health conditions, pastimes, occupations and countries please select here:
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Cura Financial Services has been rated 5 out of 5 based on 892 reviews.
Review by Jenny on 11th March 2022
“Perfect fit for my needs. Great service, didn’t take long. Feel reassured that I’m covered should anything happen in the future” - 5
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Theodore Knowles
Author
This page was written by Theodore Knowles under the guidance of Dr Kathryn Knowles Phd, an award-winning insurance adviser. To read more about Kathryn please see her bio here
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